Mundays LLP (Mundays)
advises on the sale of Guildford-headquartered assessment and development
business to US-based global workforce solutions provider.
Group Ltd (Cubiks), an international assessment and development business
headquartered in Guildford, UK, with offices in 13 countries across Europe and
Asia Pacific has been acquired by PSI
Services (PSI), a global workforce solutions provider with over
70 years’ experience in assessment and talent management.
The acquisition, which took place
on 22 October 2019, consolidates PSI’s position as the pre-eminent talent
management provider and represents a considerable development in both the
breadth of its product portfolio and its global footprint. Cubiks’ renowned
screening, selection and development solutions are a valuable complement to
PSI’s existing talent management portfolio and will strengthen PSI’s integrated
talent solutions offering for both its own and Cubiks’ customers.
Surrey based solicitors Mundays’ Corporate M&A team advised Cubiks and its principal shareholders in connection with this challenging transaction, involving sixteen overseas subsidiaries and an employee shareholder group numbering in excess of eighty shareholders across multiple jurisdictions. Mundays’ Head of Corporate Commercial, Neale Andrews, led the Mundays team working alongside colleagues, Howard White, John Parpounas-Matossian, Ben Martin and others.
Neale commented, “This was a very challenging
transaction in terms of the way it needed to be structured, but we were delighted
to have achieved an extremely satisfactory result ahead of timetable.
Having worked with Cubiks for more than a decade on a variety of matters I am
delighted to see Cubiks now well positioned for the next phase of its
development. I was extremely pleased and proud of how the Mundays’ team
responded to the various challenges that the transaction presented. It
epitomised our desire at Mundays to crack on with our work and to deliver real
results and value for our clients.”
Cubiks CEO, Martin Smith commented, “A heartfelt
thank you to Neale and the Mundays team who have provided fantastic advice and support
to us during the life of this project.
It’s been a great team effort on a complex and time pressured transaction.
It simply wouldn’t have happened without you.”
About Mundays LLP
is a leading law firm which provides specialist legal advice to corporate and
private clients. Recognising the importance of providing more than just
excellent legal advice we strive to be considered as a trusted legal partner
and deliver a service which goes far beyond “getting the job done”. Established
in 1960 and based in Weybridge, Surrey with an office in London, Mundays has a
diverse client base that includes many local businesses, individuals and
families as well as major national and international companies. Mundays
specialises in Corporate & Commercial, Dispute Resolution, Employment,
Family, Private Wealth and Property, across a wide variety of industry sectors
including business services, technology, retail, logistics, healthcare and
property development. By gaining a deep understanding of clients’ businesses,
Mundays is able to tailor its expertise and advice to meet clients’ needs –
providing City standards at competitive rates. https://mundays.co.uk/
Cubiks is an award-winning international talent
assessment and development consultancy that designs and delivers robust
solutions for assessing and developing people. Combining business psychology
with the best online solutions, Cubiks helps more than 1,000 clients across the
globe gain the insight they need to make the best talent management and
assessment decisions. With offices throughout the UK and Europe, and within the
UAE, Malaysia, Greater China and the USA, Cubiks offers culturally sensitive,
competency-driven solutions in over 30 languages. For more info, visit http://www.cubiks.com.
PSI Services LLC (PSI) is a global workforce
solutions provider that combines science, technology, and expertise to enable
opportunities for professional growth, talent enhancement, and retention. PSI
has over 70 years of experience providing worldwide testing solutions to
corporations, national and regional government agencies, professional
associations, certifying bodies and leading academic institutions. PSI offers a
comprehensive solutions approach from test development to delivery to results
processing, including pre-hire employment selection, managerial assessments,
licensing and certification tests, distance learning testing, licence
management services and professional services. More information is available