Kaye Scholer Representing Compass Partners in Sale of Drake Beam Morin to Adecco Group
Kaye Scholer is representing London-based private equity firm Compass Partners International LLP and portfolio company Drake Beam Morin, Inc. (“DBM”) in its sale to Adecco Group. The enterprise value of the deal is €149 million ($212 million).
DBM is one of the world's leading providers of strategic human resources solutions for retaining, developing and transitioning employees. The company is headquartered in New York and provides services to a large customer base through an extensive global network of offices and affiliates in the USA, Europe, Asia and Latin America. Compass acquired DBM from the Thomson Corporation in 2004.
Adecco is the world’s leading provider of HR solutions and a Fortune Global 500 company. Combining DBM with Adecco’s Lee Hecht Harrison business will create the world’s leading career transition and talent development services provider with services across the employee life cycle.
The transaction remains subject to customary closing conditions, including the receipt of certain regulatory approvals, and is expected to close in the third quarter of 2011.
The Kaye Scholer Team was led by Steven Canner and Emanuel Cherney, and included Laurie Abramowitz, Robert Bell, Jeffrey London and Raul Moreno.