Conduent Inc. has completed the sale of its human resources consulting business to a fund managed by private equity investment firm H.I.G. Capital.
The business, which was formerly known as Buck Consultants, has relaunched under that name. It will offer global integrated HR consulting, benefits administration and technology services.
The deal, as reported in May 2018, included the sale of the Canadian and Britain-based HR consulting and outsourcing businesses, as well as Conduent’s U.S.-based HR consulting and actuarial business. Before it was part of Conduent, Buck Consultants was owned by Xerox Corp.
“As an independent entity operating under the relaunched Buck brand, we are well positioned to grow across all aspects of our business,” said Jack Freker, chief executive officer at Buck Consultants, in a news release. “We are eager to embark on this new chapter of accelerated growth and investment in our organization, employees, technology and capabilities.”
The company, which was initially founded in 1916 as an actuarial consulting firm, is headquartered in New York.
“We’ve invested in an exciting organization with a full suite of services, differentiated technology, global scale, an exceptionally talented group of employees and leaders and unparalleled client tenure,” said Matt Lozow, managing director at H.I.G. Capital. “We look forward to further helping Buck scale its existing services and build new solutions for a dynamic marketplace.”