Management, MCG Global acquire Novations Group from DBM Japan
Boston, MA – August 28, 2006 – Private equity firm MCG Global LLC announced Tuesday that, together with company management, it has acquired Novations Group Inc., a human resources services provider, from its parent company, Drake Beam Morin-Japan (DBMJ). Mirus Capital Advisors represented DBMJ and Novations Management. Terms were not disclosed.
MCG Global, based in Westport, Conn., said in a statement it had teamed with members of senior management to acquire Novations. Mike Hyter will remain as Novations’ president and assume the post of CEO. He and other members of senior management will now have an ownership stake in the company. “To successfully complete our management buy‐out… I was hoping to work with an
advisor who would be mindful of our interests, and [Mirus Capital Advisors] customer service style exceeded my expectations,” said Hyter when asked about the transaction process.
The Boston-based Novations, which was purchased by the Japanese company Drake Beam Morin-Japan in 2003, provides consulting, training, and employee assessment and measurement. Its client roster includes Pfizer Inc., Microsoft Corp., PepsiCo Inc., and McDonald’s Corp.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in human capital management, technology, business services, and manufacturing. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions