ALIGHT TO SELL PAYROLL AND PROFESSIONAL SERVICES BUSINESS FOR UP TO $1.2 BILLION

21 March 2024

On March 20th, 2024 Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital technology and services provider, announced that it has signed a definitive agreement to sell its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment (the “Payroll & Professional Services business”) to an affiliate of H.I.G. Capital for up to $1.2 billion, subject to certain adjustments.

According to company, this values the Payroll & Professional Services business at a multiple of approximately 10 times its estimated 2023 adjusted EBITDA and 24 times its estimated unlevered free cash flow.

ALIGHT ANNOUNCES AGREEMENT TO SELL PAYROLL AND PROFESSIONAL SERVICES BUSINESS FOR UP TO $1.2 BILLION


Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.

www.etalon-capital.com