Exponent acquires $400m CEB Talent from Gartner

The deal values the division at 10.5x its 2017 EBITDA, according to a statement issued by the vendor.

Exponent is currently investing from its £1bn third fund, which held a final close in April 2015. The latest deal comes five months after the GP acquired a majority stake in Bullitt Group, a manufacturer of mobile phones and audio products, in a deal reportedly valued at around £100m.

Gartner acquired Virginia-based business research and analysis company CEB in January 2017 in a deal valued at $2.6bn. The sale of CEB's talent assessment division comes after Gartner concluded a review that determined the asset was not aligned with its "core focus of providing research and advisory services".

According to an earlier report by Unquote sister publication Mergermarket, Epiris was also in the bidding for the division.

The acquisition by Exponent is scheduled to complete in the first half of 2018.

Company
Headquartered in Thames Ditton, CEB Talent Assessment provides tests and software designed to enable companies to assess, select and develop talent. According to Mergermarket, the business generates slightly less than $40m in EBITDA.

People
Exponent Private Equity – Chris Graham (founding partner).
Gartner – Gene Hall (CEO).

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