Cielo, a Brookfield, Wis.-based strategic recruitment process outsourcing (RPO) partner, received a majority equity investment from Permira.
The Permira funds will acquire a stake in Cielo from Accel-KKR.
The amount of the deal, , which is subject to customary closing conditions, is expected to close in January 2019, was not disclosed. Barclays Capital Inc. acted as exclusive financial advisor to the Permira funds and provided committed financing;
The company intends to use the funds to continue to grow globally.
As part of the transaction, the Cielo management team will maintain meaningful ownership and will continue to lead Cielo in their current roles. John Coyle, Stefan Dziarski, John Mulflur and Dominik Pozny from Permira will succeed Dean Jacobson, Rob Palumbo, Greg Williams, and David Cusimano from Accel-KKR on Cielo’s Board of Directors.
Led by Founder and Chief Executive Officer Sue Marks, Cielo is a strategic Recruitment Process Outsourcing (RPO) partner which leverages innovative services, solutions and technology to allow organizations around the globe to find, attract and hire the best talent. The company’s dedicated recruitment teams serve clients in the financial and business services, consumer brands, technology and media, engineering, life sciences and healthcare industries.
Cielo’s global presence includes more than 2,000 employees, serving 154 clients across 92 countries in 36 languages.