Spire Capital has acquired Performance Assessment Network, a provider of testing and management assessment services, from Equifax Workforce Solutions, a subsidiary of Equifax Inc.
Performance Assessment Network (PAN) is the provider of online talent assessments and testing services that aid more than 2,500 corporate and government organizations in hiring and growing top talent. PAN delivers millions of talent assessments annually in both remote and proctored environments and has a testing center network with more than 600 locations. The company was founded in 2000 and is based in Carmel, IN (www.panpowered.com).
“I am very excited to be leading PAN as we enter this phase of significant growth,” said Doug Cole, Chief Executive Officer. “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.”
Spire Capital invests from $15 million to $40 million in companies with revenues of at least $10 million and EBITDAs of $5 million. Sectors of interest include business services, information services, media, education and communications. Spire Capital is currently investing out of its $320 million second fund. The firm is based in New York with an additional office in West Conshohocken, PA (www.spirecapital.com).
“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.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-5-13
