Simpson Thacher is representing Alight, Inc. (NYSE: ALIT) in connection with its definitive agreement to sell its Payroll and Professional Services business to an affiliate of H.I.G. Capital for up to $1.2 billion, in the form of $1 billion in cash and up to $200 million in seller notes, of which $150 million is contingent upon the Payroll & Professional Services business’ 2025 financial performance. The transaction is expected to close by mid-year 2024, subject to customary closing conditions, including regulatory approvals.
Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents.
The Simpson Thacher team includes Michael Chao, Elizabeth Cooper, Malik Ladhani, E.R. Rolwes and Jack Larkin (M&A); Benjamin Rippeon, Sophie Staples, Ed Grais and Matthew Lester (Tax); Jamin Koslowe, Alan Fenyes and Matias Botto (ECEB); Brian Gluck (Credit); Lori Lesser and Bobbie Burrows (Intellectual Property); Peter Guryan, Étienne Renaudeau, Richard Jamgochian and Kelly Karapetyan (Antitrust); Mick Tuesley, Jennifer Ho, Claire DiMario and Liam Murray (FDI); Krista McManus (Real Estate); Steve DeLott (Insurance); and Toby Chun and Noreen Lavan (Environmental).