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
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
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