Private equity firm Palamon Capital Partners has acquired a majority stake in Thomas International, which provides psychometric assessment solutions to small and medium-sized businesses.
Thomas International was founded in 1981 by the Reed family and provides online psychometric assessments, consulting and related products and services to help firms recruit, develop, and retain talent.
The business is based in the UK and has 81 offices around the world with over 75% of its sales originating from international markets. More than two million Thomas International assessments are completed each year in more than 60 countries and in 56 languages.
In 2017 the business generated gross sales of £40 million and pro-forma EBITDA of £9 million.
Following the acquisition, Thomas International’s CEO Amir Qureshi will continue to lead the business, while Martin Reed will stay on as a non-executive director for the Reed family. Ricardo Caupers and Ali Rahmatollahi will join the company’s board as representatives of Palamon.
Ricardo Caupers, Partner of Palamon Capital Partners, said, “Thomas International is extremely well positioned to benefit from the growing focus of SMEs on reducing staff recruitment and retention costs by making better hiring decisions, improving talent development, boosting staff engagement and increasing employee retention.”
Martin Reed, Chairman and founding family member of Thomas International, added, “I am incredibly proud of the business that my family and staff have built over the last 37 years. Our company has always put its own people at the heart of everything we do and, equally, our assessments and the insights they provide have always been about empowering businesses to transform the performance of their people, teams and culture. My family, management team and I are confident that in Palamon we have found the perfect strategic partner to help us continue to drive the company forward.”