European tech investor Tenzing has announced an agreement with WTW, a leading global advisory, broking and solutions company, to acquire its talent assessment business, Saville Assessment ("Saville").
The investment will see Tenzing acquire a market leader in psychometric assessment at a time when hiring and retaining the right talent has never been more critical for organisations. With nearly 20 years of experience in this fast-evolving industry, Saville is ideally placed to support its clients for growth through innovative talent strategies.
International law firm Osborne Clarke advised Tenzing with a private equity team including Partner Tim Hewens, Senior Associates Alex Littlefield, Alec Bartlett and Lottie Brewster and Associates Harry Stewart and Demi Joannides. Tax advice was provided by Partner David Nisbet and Associate Director Rob Thomas. Employment advice was provided by Associate Directors Lara Flynn, Claire Bowles and Associate Sarah Smith. Commercial and transitional services advice was provided by Senior Associates Daliah Haughton, Jaskirat Singh, Katherine Douse and Matt Suter and coordinated by Commercial Legal Manager Ian Solomon. Real estate advice was provided by Senior Associate Les Gray.
Saville provides a suite of award-winning assessment tools, including Wave, its flagship personality questionnaires, as well as aptitude tests, talent analytics and situational judgment tests to accurately predict workplace performance and identify high-potential talent. Its products are available in over 35 languages, sold in 80 countries, and utilised by global brands, including Jaguar Land Rover, Ricoh and Perfetti Van Melle. The business’ reputation for superior scientific validity and predictive accuracy has earned Saville the industry-leading rating from the British Psychological Society (BPS).
Tenzing was also advised on the investment by Alantra, RSM and EY-Parthenon. Boxington and CMS acted as advisors to WTW, with Liberty Corporate Finance advising management.
The transaction is expected to close in the first half of 2023.
Osborne Clarke’s private equity team is a go-to practice for companies in the technology and professional services sectors, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.
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