Spire Capital, a lower middle market focused private equity firm specialising in investments in the business services, information services, education, media and communications sectors, has acquired Performance Assessment Network (PAN), a technology-enabled provider of human capital management assessment solutions.
Spire Capital, a lower middle market focused private equity firm specialising in investments in the business services, information services, education, media and communications sectors, has acquired Performance Assessment Network (PAN), a 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.
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 catalogue 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 centres across the US.
"I am very excited to be leading pan as we enter this phase of significant growth," says 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 organisations view human capital as an asset to be developed and optimised," says 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 catalogue and vast test centre 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."
