Spire Capital to Acquire Performance Assessment Network

           Spire Capital to Acquire Performance Assessment Network

Partnership strengthens leader in human capital management assessment

PR Newswire

NEW YORK, Feb. 4, 2013

NEW YORK, Feb. 4, 2013 /PRNewswire/ -- Spire Capital, a leading lower middle
market focused private equity firm specializing in investments in the business
services, information services, education, media and communications sectors,
today announced the acquisition of Performance Assessment Network ("pan" or
the "Company"), a leading technology-enabled provider of human capital
management assessment solutions. Spire Capital and pan management have
acquired all of the issued and outstanding stock of pan from Equifax Workforce
Solutions, a subsidiary of Equifax Inc.

Founded in Carmel, Indiana in 2000, pan is a software provider of assessment
solutions that allow its customers to more effectively and efficiently
evaluate workforce recruits. The Company offers a comprehensive online
catalog of professionally developed talent assessments including content from
more than 50 leading publishers as well as proprietary content web-enabled for
customers. pan services a growing base of more than 2,500 clients by
providing convenient online delivery of talent assessments leveraging their
best-in-class technology platform in both remote as well as proctored testing
environments through an expansive network of more than 600 test centers across
the United States.

"I am very excited to be leading pan as we enter this phase of significant
growth," said Doug Cole, Chief Executive Officer of pan. "Our goal has always
been to provide the best quality content, superior technology and the highest
level of service to our customers. Partnering with Spire will provide the
strategic focus and resources to fuel our growth in the coming quarters and

"Today's organizations view human capital as an asset to be developed and
optimized," said Bruce Hernandez, Partner of Spire Capital. "We absolutely
embrace this line of thinking and believe pan is perfectly positioned to
benefit from our partnership which will leverage the Company's unique
technology platform, publisher agnostic assessment catalog and vast test
center network to grow with both new and existing customers. Spire brings
significant industry expertise to the partnership and looks forward to working
with the team at pan to accelerate growth."

About Performance Assessment Network

Performance Assessment Network (pan) is the leading global provider of online
talent assessments and testing technology solutions that aid both corporate
and government organizations in hiring and growing top talent. Founded in
2000, pan offers a single point of access to the most diverse collection of
online talent assessments available including 100's of professionally
developed employment tests from more than 50 of the most respected publishers
in the industry. With a technology platform that sets the standard for online
testing innovation and security, pan delivers millions of talent assessments
annually in both remote and proctored environments leveraging its vast testing
center network of more than 600 convenient locations. For more information,
please visit www.panpowered.com. 

About Spire Capital Partners

Founded in 2000, Spire Capital is an active and experienced private equity
firm with an investment focus in companies within the business services,
information services, media, education and communications sectors. Spire
Capital leads buyout investments in its areas of expertise and believes its
deep industry experience and network of relationships are invaluable in
helping its portfolio companies to grow and succeed. Spire Capital is
currently investing out of its second fund of $320 million. For more
information please visit www.spirecapital.com.

SOURCE Spire Capital Partners

Website: http://www.spirecapital.com
Contact: Bruce M. Hernandez, Spire Capital Partners, +1-212-218-5451,
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