Wolters Kluwer Legal & Regulatory Solutions today announces the sale of its UK-based HR consulting and tax fee protection services units to Peninsula Business Services. The transaction supports the division’s strategy to concentrate on legal information and software solutions for law firms, corporate counsel, and other compliance professionals.
“In divesting to Peninsula, we sought to align these consulting and advisory business lines with a buyer who is well positioned to continue to serve the needs of our customers,” said Stacey Caywood, CEO, Legal & Regulatory Solutions.
Peninsula Business Services is a leading provider of employment law, HR and Health & Safety consultancy services in the UK.
The UK-based HR consulting and tax fee protection services units had revenues of €31 million in 2014 and have approximately 270 employees. The agreement is effective immediately. Terms of the agreement are not being disclosed.
About Wolters Kluwer
Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The group serves customers in over 170 countries, and employs over 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY). Wolters Kluwer Legal & Regulatory Solutions is a division of Wolters Kluwer, serving customers around the world with expert information solutions, software, and services in the areas of law, business, and regulatory compliance. Customers of Wolters Kluwer Legal & Regulatory Solutions include law firms, corporate law departments, business compliance professionals, corporate legal counsel, legal educators, universities, libraries, and government agencies.