Talent management software provider StepStone has completed the sale of its StepStone Solutions talent management software division to European sector focused private equity investor HgCapital for €110m (£95m).

The sale follows Axel Springer’s purchase of StepStone in December 2009. Axel Springer retains ownership of StepStone’s online job boards business, which has been successfully integrated into Axel Springer’s digital media division.

Both Colin Tenwick, chief executive of StepStone, and Ian Cole, chief financial officer, will leave the organisation at the end of the month.