Reuters: Private Equity: UPDATE 2-Corporate Executive Board to buy talent management firm

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UPDATE 2-Corporate Executive Board to buy talent management firm Jul 2nd 2012, 21:10 Mon Jul 2, 2012 5:10pm EDT July 2 (Reuters) - Research and advisory firm Corporate Executive Board Co (CEB) said it will buy UK-based talent management firm SHL for $660 million in cash. SHL is owned by funds managed by HgCapital and Veronis Suhler Stevenson. It had revenue of $209.8 million for 2011. CEB said it expects the deal to add to its 2013 earnings. It also reaffirmed its full-year outlook, excluding impact from the acquisition. The company will fund the acquisition with borrowings under a new $625 million secured credit facility, and with about $85 million cash on hand. Allen & Company LLC and BofA Merrill Lynch advises CEB while SHL is advised by Morgan Stanley, Weil, Gotshal & Manges and Deloitte.

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