November 5, 2019
Glendale, CA – PSI Services LLC (“PSI” or “the Company”), a global provider of assessment content, leading-edge technology, and talent consulting solutions, today announced the completion of a significant equity investment led by Waud Capital Partners (“WCP” or “Waud Capital”), a leading growth-oriented middle market private equity firm. This investment extends Waud Capital’s partnership and enables PSI to continue funding a robust acquisition pipeline and organic initiatives for the next phase of the Company’s growth. In line with that strategy, the Company recently closed on the acquisition of Cubiks Group Ltd, a leading global talent assessment platform.
Since beginning the partnership with Waud Capital in 2015, PSI has coupled double-digit organic growth with a strategic acquisition plan. The Company has also executed several key operating milestones, including expanding into the certification and talent management markets, and extending into international markets such as the UK and the Middle East. With a deep library of industry leading content and expertise combined with a feature-rich and flexible technology platform, PSI has consistently gained market share by partnering with clients to deliver to each of their unique needs. As the Company enters its next stage of its growth, PSI will further apply its solutions, products, and services across the entire career lifecycle of an individual as it executes its long-term vision of helping people reach their potential.
Steve Tapp, CEO of PSI Services, said, “We appreciate the continued support of the WCP team in PSI and look forward to continuing our highly collaborative partnership. Our success to date has positioned PSI to provide the best products and service to our clients globally, and the additional investment from Waud Capital will further enhance our ability to deliver industry leading solutions to the market. We look forward to the next phase of the Company’s growth and our continued successful partnership.”
“We are excited for this new phase of our partnership with PSI,” added Matt Clary, Partner at Waud Capital. “The Company’s success over the past five years has energized a new vision for growth that we’ve worked together to create, which aims to bring long-term value to organizations and individuals across the globe. Led by an incredible management team, PSI has exceeded our expectations, and we are looking forward to this new period of growth.”
About PSI Services
PSI Services LLC (PSI) is a global workforce solutions provider that designs robust solutions for our clients by blending best-in-class assessment content, leading-edge technology, and deep consulting expertise across the entire career life cycle. PSI has over 70 years of experience providing worldwide testing solutions to a wide variety of customers across public and private sector industries, ranging from small businesses to global enterprises, leading academic institutions, and government organizations. PSI offers a comprehensive solutions approach from test development to delivery and results processing, including pre-hire employment selection, managerial assessments, licensing and certification tests, distance learning testing, and other specialized services. Through our work with over 2,000 experts across 160 countries delivering over 15 million tests and assessments per year globally, PSI exists to empower people in their careers and drive organizational success.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $3.0 billion since its founding in 1993. Waud Capital partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed more than 280 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, visit www.waudcapital.com.
PSI Press Contacts:
PR Manager – PSI Services LLC
WCP Investor Contact:
Meghan Slentz, Director – Investor Relations
WCP Media Contact:
Nick Rust – Prosek Partners