FOR IMMEDIATE RELEASE:
Ruben Moreno, Cofounder of Blue Rock Search – A member of the Sanford Rose Associates® network of offices, Featured in TechTarget, Ultimate Software Acquisition Won’t Be Immune to Turnover, Culture Clash
Plano, TX 2/13/2019
By: Patrick Thibodeau
Ultimate Software, an HR vendor, may face a clash of cultures and a spike in turnover as the result of its acquisition by a private equity firm.
But there’s more to the recently announced deal than that. Hellman & Friedman, which is paying $11 billion for Ultimate, also owns another HR vendor, Kronos. The Ultimate Software acquisition, which is not expected to close until mid-2019 and is subject to stockholder approval, gives the private equity firm a significant chunk of the human capital management market.
Employee financial windfalls, along with the potential for a startup-corporate culture clash, may lead to the “loss of the very talent that got you to where you are,” said Ruben Moreno, who heads the HR executive search practice at Blue Rock Search, a national recruiting firm in Sarasota, Fla., that works with private equity investing groups in deals.