M&A Deal Summary

Apollo Global Management, Ontario Teachers Pension Plan and Randstad Acquire CareerBuilder

On June 20, 2017, asset manager Apollo Global Management, pension Ontario Teachers Pension Plan and Randstad acquired staffing company CareerBuilder from Knight-Ridder, Tribune Media, TEGNA, The McClatchy and Microsoft

Acquisition Highlights
  • This is Apollo Global Management’s 1st, Ontario Teachers Pension Plan’s 1st and Randstad’s 10th transaction in the Staffing sector.
  • This is Apollo Global Management’s 51st, Ontario Teachers Pension Plan’s 51st and Randstad’s 4th transaction in the United States.
  • This is Apollo Global Management’s 5th, Ontario Teachers Pension Plan’s 7th and Randstad’s 1st transaction in Illinois.

M&A Deal Summary

Date 2017-06-20
Target CareerBuilder
Sector Staffing
Buyer(s) Apollo Global Management
Ontario Teachers Pension Plan
Randstad
Sellers(s) Knight-Ridder
Tribune Media
TEGNA
The McClatchy
Microsoft
Deal Type Divestiture

Target

CareerBuilder

Chicago, Illinois, United States
CareerBuilder provides comprehensive online recruiting products and services for job seekers and employers and has uniquely syndicated its trademarked technology and content to create a network of private-label career sites. CareerBuilder was founded in 1995 and is based in Chicago, Illinois.

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Buyer(S) 3

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 70 of 140
Sector (Staffing) 1 of 2
Type (Divestiture) 12 of 26
State (Illinois) 5 of 8
Country (United States) 51 of 101
Year (2017) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 Intrado

Omaha, Nebraska, United States

Intrado is a cloud-based, global technology partner to clients around the world. The Company's solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight. Intrado was formed in 1986 and is based in Omaha, Nebraska.

Buy $5.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-09 ClubCorp Holdings

Dallas, Texas, United States

ClubCorp Holdings owns and operates golf, country, business, sports, and alumni clubs. ClubCorp owns or operates a portfolio of over 200 golf and country clubs, business clubs, sports clubs, and alumni clubs in 28 states, the District of Columbia and two foreign countries that serve over 430,000 members, with approximately 20,000 peak-season employees. ClubCorp Holdings was founded in 1957 and is based in Dallas, Texas.

Buy $1.1B
Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 106 of 175
Sector (Staffing) 1 of 1
Type (Divestiture) 12 of 15
State (Illinois) 7 of 7
Country (United States) 51 of 72
Year (2017) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-14 Ascend Learning

Burlington, Massachusetts, United States

Ascend Learning is a provider of educational content and software tools for students, educational institutions, and employers. With products that span the learning continuum, Ascend Learning focuses on high-growth careers in a range of industries, with a special focus on healthcare and other licensure-driven occupations. Ascend Learning was founded in 2010 and is based in Burlington, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-14 HS1

London, United Kingdom

HS1 is the UK’s only high-speed rail line and forms part of the Paris-Brussels-Cologne-Amsterdam-London trans European high-speed rail network. HS1 is based in London, United Kingdom.

Sell -
Buyer

Randstad

Diemen, Netherlands

Category Company
Founded 1960
Sector Business Services
Employees40,000
Revenue 25.4B EUR (2023)
DESCRIPTION
Randstad office in Atlanta, Georgia.
Randstad office in Atlanta, Georgia.

Randstad is a human resource consulting firm and HR service provider. Randstad was founded in 1960 and is based in Diemen, Netherlands.


DEAL STATS #
Overall 16 of 19
Sector (Staffing) 10 of 12
Type (Divestiture) 2 of 2
State (Illinois) 1 of 1
Country (United States) 4 of 5
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 Ausy SA

Sevres, France

Ausy SA is a provider of IT and consultancy services in outsourced R&D. Ausy was founded in 1989 and is based in Sevres, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-30 Cella

Rockville, Maryland, United States

Cella is one of the largest creative/digital staffing companies in the US and enables the world's largest and best-known brands to engage the best people and unleash the full potential of their creative power. Cella was founded in 1988 and is based in Rockville, Maryland.

Buy -

Seller(S) 5

SELLER

Knight-Ridder

San Jose, California, United States

Category Company
Founded 1933
Sector Media
Employees18,500
DESCRIPTION

Knight-Ridder, Inc. is a media company, specializing in newspaper and Internet publishing.


DEAL STATS #
Overall 1 of 1
Sector (Staffing) 1 of 1
Type (Divestiture) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-18 CareerBuilder

Chicago, Illinois, United States

CareerBuilder provides comprehensive online recruiting products and services for job seekers and employers and has uniquely syndicated its trademarked technology and content to create a network of private-label career sites. CareerBuilder was founded in 1995 and is based in Chicago, Illinois.

Buy -
SELLER

Tribune Media

Chicago, Illinois, United States

Category Company
Founded 1847
Sector Media
Employees8,000
Revenue 1.8B USD (2017)
DESCRIPTION
The Tribune Co.'s corporate headquarters on Michigan Avenue in downtown Chicago, Illinois.
The Tribune Co.'s corporate headquarters on Michigan Avenue in downtown Chicago, Illinois.

Tribune Media Co. is home to a diverse portfolio of television and digital properties driven by quality news, entertainment, and sports programming. Tribune Media is comprised of Tribune Media Broadcasting’s 42 owned or operated local television stations reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is more than 77 million households, and a variety of digital applications and websites commanding 54 million monthly unique visitors online. Tribune Media also includes Chicago’s WGN-AM and the national multicast networks Antenna TV and THIS TV, and Covers Media Group, an unrivaled source of online sports betting information. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds a variety of investments, including a 31% interest in Television Food Network, G.P., which operates Food Network and Cooking Channel.


DEAL STATS #
Overall 7 of 7
Sector (Staffing) 1 of 1
Type (Divestiture) 6 of 6
State (Illinois) 3 of 3
Country (United States) 7 of 7
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-20 Gracenote

Emeryville, California, United States

Gracenote, Inc. is a provider of embedded technology, enriched content, and data services for digital entertainment solutions within the Internet, consumer electronics, mobile, and automotive markets.

Sell $560M
SELLER

TEGNA

Tysons, Virginia, United States

Category Company
Founded 1906
Sector Media
Employees6,430
Revenue 2.9B USD (2020)
DESCRIPTION

TEGNA is a diversified media company. The Company operates through two business segments, Media and Digital. The Media segment comprises of 46 television stations in 38 markets. The Digital segment consists of the Cars.com (formerly Classified Ventures LLC) and CareerBuilder businesses. TEGNA, Inc. was formerly known as Gannett Co. TEGNA was originally established in 1906 and is based in Tysons, Virginia.


DEAL STATS #
Overall 9 of 10
Sector (Staffing) 1 of 1
Type (Divestiture) 7 of 8
State (Illinois) 3 of 3
Country (United States) 9 of 10
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-15 ShopLocal

Chicago, Illinois, United States

Cofactor Digital is a digital marketing solutions provider, that connects online and offline shoppers across all channels and devices. Cofactor Digital was established in 1999 and is headquartered in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-15 Midwest Television - Broadcasting Stations

San Diego, California, United States

Midwest Television, Inc. - Broadcasting Stations owns and operator of KFMB-TV, the CBS affiliated station in San Diego, KFMB-D2 (CW) and radio broadcast stations KFMB-AM and KFMB-FM in San Diego.

Buy -
SELLER

The McClatchy

Sacramento, California, United States

Category Company
Founded 1860
Sector Publishing
Employees2,800
Revenue 710M USD (2019)
DESCRIPTION

The McClatchy Company is a news and information provider dedicated to the values of quality journalism, free expression and community service. McClatchy's operations include 29 daily newspapers, community newspapers, leading local websites, mobile news and advertising, niche publications, direct marketing and direct mail services. The McClatchy was founded in 1857 and is based in Sacramento, California.


DEAL STATS #
Overall 2 of 2
Sector (Staffing) 1 of 1
Type (Divestiture) 2 of 2
State (Illinois) 2 of 2
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-21 The Herald-Sun

Paducah, Kentucky, United States

The Herald-Sun is a provider of media services in US.

Buy -
SELLER

Microsoft

Redmond, Washington, United States

Category Company
Founded 1975
Sector Software
Employees221,000
Revenue 211.9B USD (2023)
DESCRIPTION
Entrance to Microsoft's corporate headquarters in Redmond, Washington.
Entrance to Microsoft's corporate headquarters in Redmond, Washington.

Microsoft is a global technology company that offers a broad spectrum of software products, services, and devices designed to help individuals and organizations across various sectors. Its extensive portfolio includes the Windows operating systems, the Microsoft Office suite for productivity, and the Azure cloud computing platform, providing solutions for computing, analytics, storage, and networking. Microsoft also delves into enterprise applications with Dynamics 365, connects professionals via LinkedIn, and engages gamers through its Xbox brand and related services. Additionally, it offers internet services such as Bing for web search, Outlook.com for email, and Skype for communication. Microsoft was formed in 1975 and is based in Redmond, Washington.


DEAL STATS #
Overall 10 of 13
Sector (Staffing) 1 of 1
Type (Divestiture) 8 of 11
State (Illinois) 1 of 1
Country (United States) 8 of 11
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Hexadite

Boston, Massachusetts, United States

Hexadite specializes in investigating cyberattacks and mitigating damage to systems by using machine learning. It can be integrated in existing firewall solutions. The company maintains an R&D center in Israel.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Cloudyn Software

New York, New York, United States

Cloudyn Software Ltd. is an enterprises and managed service providers optimize their investments in cloud services. Cloudyn Software Ltd. was founded in 2011 and is based in New York, New York.

Buy -