H.I.G. Capital, a global alternative investment firm with more than $50 billion of equity capital under management, sold its portfolio company Salary.com to Accel-KKR. Terms of the transaction were not disclosed.
Based in Waltham, MA, Salary.com is a provider of cloud-based compensation software and data solutions, serving more than 8,000 software subscribers and 60 million employees globally. The company’s software products and analytical capabilities enable enterprises, small businesses and individuals to be on the cutting edge of compensation trends, best practices and policies._x000D_
H.I.G. acquired Salary.com from IBM Kenexa in December 2015. During H.I.G.’s ownership, Salary.com relaunched its entire product suite, bringing the company back to category leadership and creating a roadmap for developing the next generation of compensation data, analytics and software. The company expanded its sales force, creating the highest-performing team in the industry and driving 30%+ annual growth._x000D_
“This is a terrific endorsement of our team and the value of our award-winning products, consulting and services. We are very excited for our next phase of growth,” Kent Plunkett, co-founder and CEO of Salary.com, said. “We developed a fantastic partnership with H.I.G. The support H.I.G. provided, has played a significant role in defining our success. We have built a strong foundation for even more growth opportunities ahead.”
“We have enjoyed the partnership with Kent Plunkett, Yong Zhang and the rest of the Salary.com team,” Todd Ofenloch, managing director at H.I.G. Capital, said. “It has been incredibly rewarding to collaborate with such talented entrepreneurs, and witness their passion to fulfill the company’s mission while also achieving our ambitious financial goals. We are proud to have been a part of this chapter of Salary.com’s story and look forward to following its continued success.”
