Spire Capital to Acquire Performance Assessment Network

NEW YORK, Feb. 4, 2013

Spire Capital, a leading lower middle market focused

private equity firm specializing in investments in the business

services, information services, education, media and communications

sectors, today announced the acquisition of Performance Assessment

Network (“pan” or the “Company”), a leading technology-enabled provider of human capital management assessment solutions. Spire Capital and pan management have acquired all of the issued and outstanding stock of pan from Equifax Workforce Solutions, a subsidiary of Equifax Inc.

Founded in Carmel, Indiana in 2000, pan

is a software provider of assessment solutions that allow its customers

to more effectively and efficiently evaluate workforce recruits.  The

Company offers a comprehensive online catalog of professionally

developed talent assessments including content from more than 50 leading

publishers as well as proprietary content web-enabled for customers.  pan

services a growing base of more than 2,500 clients by providing

convenient online delivery of talent assessments leveraging their

best-in-class technology platform in both remote as well as proctored

testing environments through an expansive network of more than 600 test

centers across the United States.

“I am very excited to be leading pan as we enter this phase of significant growth,” said Doug Cole , Chief Executive Officer of pan.

“Our goal has always been to provide the best quality content, superior

technology and the highest level of service to our customers.

Partnering with Spire will provide the strategic focus and resources to

fuel our growth in the coming quarters and years.”

“Today’s organizations view human capital as an asset to be developed and optimized,” said Bruce Hernandez , Partner of Spire Capital. “We absolutely embrace this line of thinking and believe pan

is perfectly positioned to benefit from our partnership which will

leverage the Company’s unique technology platform, publisher agnostic

assessment catalog and vast test center network to grow with both new

and existing customers.  Spire brings significant industry expertise to

the partnership and looks forward to working with the team at pan to accelerate growth.”

About Performance Assessment Network

Performance

Assessment Network (pan) is the leading global provider of online

talent assessments and testing technology solutions that aid both

corporate and government organizations in hiring and growing top talent.

Founded in 2000, pan offers a single point of access to the most

diverse collection of online talent assessments available including

100’s of professionally developed employment tests from more than 50 of

the most respected publishers in the industry. With a technology

platform that sets the standard for online testing innovation and

security, pan delivers millions of talent assessments

annually in both remote and proctored environments leveraging its vast

testing center network of more than 600 convenient locations. For more

information, please visit www.panpowered.com.  

About Spire Capital Partners

Founded

in 2000, Spire Capital is an active and experienced private equity firm

with an investment focus in companies within the business services,

information services, media, education and communications sectors. Spire

Capital leads buyout investments in its areas of expertise and believes

its deep industry experience and network of relationships are

invaluable in helping its portfolio companies to grow and succeed. Spire

Capital is currently investing out of its second fund of $320 million. For more information please visit www.spirecapital.com.

SOURCE Spire Capital Partners

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