Burbank, CA, January 26, 2017 – PSI Services LLC (PSI), a worldwide, industry-leading professional testing services provider to corporations, federal and state government agencies, professional associations, certifying bodies and leading academic institutions, today announced that they have acquired Performance Assessment Network (PAN), a recognized leader in talent assessments and measurement solutions for the Corporate, Government and Education marketplace worldwide.
The acquisition of PAN extends PSI's product range and solution reach for its Talent Assessment market segment, providing an opportunity for the combined portfolio to expand their hiring and development programs leveraging PAN's world-class assessment technology, supported by content from PAN's industry-leading assessment catalog and PSI's seventy years of expertise providing products and industry leading psychometric consulting in the Talent Assessment industry.
"The PAN acquisition supports PSI's expansion plans for our Talent Assessment market (PSI's original market segment) as we look for strategic opportunities to continue our growth," said Steve Tapp, President and CEO of PSI. "By combining PSI's extensive psychometric consulting arm, industry leading assessment products, and operational expertise with PAN's expanded leading edge technology and test catalog, including IPAT published products, PSI is well-positioned to deliver world-class solutions and provide more choice to the Human Capital marketplace."
Jim Holm, PAN's CEO, said, "We believe the partnership with PSI to be an excellent growth opportunity. The worldwide operational resources and test security experience of PSI, combined with PAN's more than 16,000 active testing administrators and HR managers using PAN's technology and catalog to hire and develop great employees, will provide a unique suite of robust product solutions to accelerate growth and provide enhanced services."
PSI provides various solutions worldwide through its multiple business channels including talent assessments (of job-seeking candidates as well as employee development programs), licensure testing and license management services (for government regulatory agencies), certification credentialing services (for certifying bodies) and leading academic institutions. PSI offers clients various solutions to measure, assess and identify the skills, traits and abilities of individuals seeking jobs, degrees, and licensure or certification credentials.
PSI Services LLC (PSI) has over 70 years of experience providing worldwide testing solutions to corporations, federal and state government agencies, professional associations, certifying bodies and leading academic institutions. PSI offers a comprehensive solutions approach from test development to delivery to results processing, including pre-hire employment selection, managerial assessments, licensing and certification tests, distance learning testing, license management services and professional services.
For additional information on PSI, visit www.psionline.com.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading private equity firm founded in 1993 that partners with exceptional management teams to acquire or create platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The Firm seeks to invest $50 million to $100 million (including follow-on investments) of total equity in each platform company and employs a disciplined three-phase investment strategy with staged investments designed to generate superior risk-adjusted returns. Waud Capital targets services businesses in large, growing, fragmented markets within two industries: healthcare services and business and technology services. Typically, the initial platform companies in which Waud Capital invests have enterprise values between $50 million and $250 million. The Firm has approximately $2.1 billion in assets under management. Since its founding, Waud Capital has successfully completed more than 200 investments, including platform companies and follow-on opportunities.
For additional information on WCP, visit the firm's website at www.waudcapital.com.
For Further Information:
Greg Becker, Executive Vice President
PSI Services LLC
Philip S. Kemp, Jr., Principal - Investor Relations
Waud Capital Partners
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