PRO Unlimited to Acquire Workforce Logiq via Agreement with EQT Private Equity to Create Leading Global Workforce Management Solutions Provider
POSTED BY PRO UNLIMITED | AUGUST 17th, 2021
We’re excited to announce that, through an agreement with EQT Private Equity, PRO will acquire Workforce Logiq from affiliates of The Carlyle Group later this year, subject to customary regulatory approvals. This transaction will combine two leading-edge companies that share a common strategic approach in solving diversified clients’ contingent workforce management needs through the power of a holistic platform. This combination will expand our position as a preferred provider to the Global 2000, enabling organizations to achieve their strategic talent acquisition and cost reduction objectives.
Through these transactions, we will add Workforce Logiq’s proven and strong track record of innovation and growth including 16 patented and patent-pending solutions, dedicated data science and development teams, and an award-winning Total Talent Intelligence® technology platform to our portfolio. Additionally, Workforce Logiq’s strong presence in EMEA, specifically in the Nordics, expands our already impressive global reach. As a result, we will enhance the scale and breadth of operations to enable the continued global expansions of our large and mid-market client base worldwide.
Here’s what our CEO Kevin Akeroyd had to say about the acquisition:
“Bringing Workforce Logiq into the PRO Unlimited family will allow us to extend our reach and synthesize two like-minded entities that share the same strategy and platform approach to contingent workforce management. The addition of its software and services into our platform will continue our tradition of eliminating the need for costly and inefficient point solutions to manage contingent labor. The result is a more optimal experience for clients looking to modernize mission-critical non-employee workforce programs, which have now become a top four spend category in most corporations.”
Many of the largest and most sophisticated enterprises in the world rely on PRO and Workforce Logiq’s software and services to achieve greater efficiencies, cost savings, and talent quality in the 50% of the workforce that is contingent (non-full time).
Following the completion of these transactions, EQT Private Equity, which has entered into an agreement to acquire PRO, will use its extensive experience partnering with technology-enabled services businesses, in-house digital expertise and extensive network of global EQT advisors to support the combination of Workforce Logiq and PRO and seek to accelerate the combined company’s growth, global expansion and integrated technology platform innovation.
The transaction is subject to customary conditions and approvals. It is expected to close in late Q3, 2021. PRO was advised by Sidley Austin LLP. Jefferies LLC served as exclusive financial advisor to Workforce Logiq, and Latham & Watkins served as legal advisor.
If you’re interested in learning more about how PRO is helping organizations implement winning contingent workforce programs globally, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.