Morneau Shepell to buy PE-backed LifeWorks in $426 mln deal
Morneau Shepell Inc (TSX: MSI) has agreed to acquire all of the outstanding shares of LifeWorks Corp Ltd, an Atlanta, Georgia-based employee assistance program and wellness provider. The cash-and-stock deal, expected to close this month, is valued at about $426 million. Morneau Shepell, a Toronto-based human resources consulting and technology company, said the acquisition will bolster its global footprint. LifeWorks was formed in 2016 through a joint venture between Work Angel Technology Ltd and Ceridian HCM Holding Inc. When Ceridian went public earlier this year, it spun out LifeWorks to existing shareholders, including Thomas H. Lee Partners and Cannae Investors.
10 July 2018•9 mins read
