MVC Capital (MVC) Closes Sale of SHL Group to Corporate Executive Board (EXBD)
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MVC Capital, Inc. (NYSE: MVC) today announced the closing of the sale of SHL Group Limited, a MVC portfolio company, to The Corporate Executive Board, (NYSE: EXBD), for $660 million in cash, subject to customary pre and post closing adjustments.
SHL provides workplace talent assessment solutions, including ability and personality tests, and psychometric assessments. The Fund first invested $6.0 million in PreVisor, Inc. in 2006. In January of 2011, SHL acquired PreVisor, Inc. and the Fund received shares in SHL.
With the closing of the transaction, the Fund anticipates receiving net proceeds that closely approximate the current carrying value of $15.3 million as of April 30, 2012.
SHL provides workplace talent assessment solutions, including ability and personality tests, and psychometric assessments. The Fund first invested $6.0 million in PreVisor, Inc. in 2006. In January of 2011, SHL acquired PreVisor, Inc. and the Fund received shares in SHL.
With the closing of the transaction, the Fund anticipates receiving net proceeds that closely approximate the current carrying value of $15.3 million as of April 30, 2012.
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