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Ceridian HCM Holdings sold by Thomas Lee Advisors: $437.57m-June 8 (reported today)
Ceridian HCM Holding Inc. is a human capital management (HCM) software company. The Company operates in two segments, HCM and LifeWorks. Through the HCM segment the Company develops its flagship product Dayforce. Dayforce is a cloud HCM platform that provides human resources (HR), payroll, benefits, workforce management, and talent management functionalities. The platform optimizes the management of entire employee lifecycle in an organization. The Company also provides Powerpay, a cloud HR and payroll solution for the Canadian small business market through HCM. Through the HCM segment, the Company also offers Bureau HCM solutions through the service-bureau model. It includes three services lines, such as payroll, payroll-related tax filing, and outsourced HR solutions. The Company, through the LifeWorks segment, offers employee assistance, wellness, recognition, incentive programs, and employee engagement analytics. Number of employees : 5 011 people.
https://www.marketscreener.com/quote/stock/CERIDIAN-HCM-HOLDING-INC-43133651/company/
Thomas H. Lee Partners, L.P. is an American private equity firm based in Boston, Massachusetts specializing in leveraged buyouts, growth capital, special situations, industry consolidations, and recapitalizations. Founded in 1974 by its namesake Thomas H. Lee, Thomas H. Lee Partners, often referenced as THL or THL Partners has raised approximately $22 billion of equity capital, investing in more than 100 businesses with an aggregate purchase price of more than $150 billion, completing over 200 add-on acquisitions. In 2012, Private Equity International ranked THL Partners 22nd of the top 300 private equity firms based on funds raised. Thomas H. Lee Partners’ team includes 21 senior partners led by Anthony DiNovi and Scott M. Sperling, who became co-presidents of the firm in 1999. The firm's namesake, Thomas H. Lee, left the firm and formed Lee Equity Partners in 2006.
Thomas H. Lee Partners is also known for its leveraged buyout acquisition in 2004 of Refco, a financial services company specializing in commodities and futures contracts, which collapsed suddenly in October 2005, only months after its IPO. Refco's collapse cost investors more than $1 billion sparking multiple suits for negligence against the firm. Thomas H. Lee Partners in turn sued Refco's auditors and former executives claiming they hid the fraud which caused Refco's collapse. Thomas H. Lee Partners has since settled all claims by Refco’s brokerage customers, bankruptcy trustee and shareholders. In more recent news, Thomas H Lee partners purchased Art Van Furniture (a 58 year old company) in 2017. In just 3 short years, the once profitable business was bankrupt. Over 3500 employees were terminated with no notice and immediately stripped of health benefits. Customers who had made purchases were denied the ability to receive their merchandise and no refunds were given.
https://en.wikipedia.org/wiki/Thomas_H._Lee_Partners
https://www.finviz.com/insidertrading.ashx?oc=1260943&tc=7&b=2