H.I.G. Capital Completes Sale of Salary.com
BOSTON – October 13, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce the sale of its portfolio company Salary.com (the “Company”) to Accel-KKR. Terms of the transaction were not disclosed.
Based in Waltham, Massachusetts, Salary.com is the market leader in cloud-based compensation software and data solutions, serving more than 8,000 software subscribers and 60 million employees globally. The Company’s software products and analytical capabilities enable enterprises, small businesses, and individuals to be on the cutting edge of compensation trends, best practices, and policies.
H.I.G. acquired Salary.com from IBM Kenexa in December 2015. During H.I.G.’s ownership, Salary.com relaunched its entire product suite, bringing the Company back to category leadership and creating a roadmap for developing the next generation of compensation data, analytics and software. The Company expanded its sales force, creating the highest-performing team in the industry and driving 30%+ annual growth.
Kent Plunkett, Salary.com’s co-founder and CEO, said, “This is a terrific endorsement of our team and the value of our award-winning products, consulting and services. We are very excited for our next phase of growth. We developed a fantastic partnership with H.I.G. The support H.I.G. provided, has played a significant role in defining our success. We have built a strong foundation for even more growth opportunities ahead.”
Todd Ofenloch, Managing Director at H.I.G. Capital added, “We have enjoyed the partnership with Kent Plunkett, Yong Zhang and the rest of the Salary.com team. It has been incredibly rewarding to collaborate with such talented entrepreneurs, and witness their passion to fulfill the company’s mission while also achieving our ambitious financial goals. We are proud to have been a part of this chapter of Salary.com’s story and look forward to following its continued success.”
Salary.com® is the leading provider of compensation market data, software, and analytics, bringing more of the trusted data and intuitive software organizations need to get pay right. The industry’s fastest-growing compensation management company, Salary.com serves over 30,000 survey participant organizations, over 8,000 business-to-business software subscribers, and over 60 million employees globally. HR professionals rely on Salary.com’s 360° view of their compensation practices so they can efficiently and accurately achieve pay equity and adapt to market changes. Salary.com’s state-of-the-art CompAnalyst® accelerates compensation workflows, delivers real-time data, and powers accurate, equitable and competitive compensation through one intuitive platform. For more information, please visit www.salary.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.