On August 22nd, 2018, an investment fund managed by H.I.G. Capital completed their previously-announced acquisition of Buck, formerly the HR consulting division of Conduent (NYSE: CNDT), through an LBO for an undisclosed sum. The transaction also includes Buck’s Canadian- and UK-based businesses. Conduent will retain certain assets in line with its core technology platform business.
View Clearsight’s full deal profile here: HIG Capital Acquires Buck
Clearsight believes that this acquisition further demonstrates how the HR consulting space is being disrupted: transactions like this suggest a strong exit environment for PE firms that are interested in the HR services space, and Clearsight expects this trend to continue.
We anticipate that H.I.G. will continue to grow via an add-on acquisition strategy and believe they will target both HR services and software assets that are market leaders in their niches.