Globalization Partners closes USD150m minority investment
Globalization Partners, whose Global Expansion Platform enables companies to hire talent in more than 170 countries within days without the need to first set up costly international subsidiaries, has closed on a USD150 million minority equity investment led by funds managed by Wincove Private Holdings and TDR Capital, with participation from Sands Capital.
The investor group will further accelerate Globalization Partners’ rapid growth to date, as companies increasingly look to expand into new international markets. The company intends to invest heavily in client services, technology development, sales, and global expansion.
Founded by CEO Nicole Sahin in 2012, Globalization Partners flattens barriers to global business by making it easy for companies to hire employees anywhere in the world within a few business days. The company delivers these capabilities through its Global Expansion Platform™, which allows companies to hire employees throughout the world without having to navigate complex international legal, tax, and HR issues. Companies identify the talent and Globalization Partners puts that team member on their locally compliant payroll. The company combines on-the-ground, in-country expertise spanning more than 170 countries and software that makes it easy for clients to use its global services from any device.
“I set out to build a company that changes the way the world does business. Our partnership with our world-class investor group is a testament to their belief in our platform,” says Nicole Sahin, CEO and Founder, Globalization Partners. “Our Global Expansion Platform is so compelling because it enables companies to take advantage of market opportunities much faster than they would be able to do otherwise. I’m extremely proud that we have proven it’s possible to build a high-growth, profitable company that customers, business partners, and employees love.”
Michael McGovern, Partner of Wincove Private Holdings, says: “We have known Nicole, and admired Globalization Partners’ successes, for quite some time. We are excited and proud to formally partner with her and the Globalization Partners’ team to help the company scale and continue to build its industry-leading business.”
“Globalization Partners has developed an innovative tech-enabled global expansion platform that we believe is transformational for companies that need to rapidly take advantage of global growth opportunities,” says Jon Rosen, Partner, TDR Capital. “The business is extremely well-run and committed to providing world-class, compliant solutions, all while operating with the highest integrity and client care standards.”
Blair Thompson, General Counsel and Chief Operating Officer of TDR Capital, adds: “We’ve been watching the global employer of record space for some time, and Globalization Partners is the first company we have found that we believed was built to meet the compliance needs of mature companies. Having undergone a rigorous due diligence process with Globalization Partners’ legal and compliance team, and having reviewed the infrastructure they’ve built, we have been incredibly impressed – we believe that this company is built for sustainable, global growth. We couldn’t be more thrilled to partner with them.”
“We strive to invest in the leading, most innovative public and private businesses globally,” says Frank Sands, CEO & CIO of Sands Capital. “We are impressed by the high-quality franchise Nicole and her team have built, and look forward to supporting and partnering with them for years to come.”
Globalization Partners has seen its customer base grow exponentially in 2019. The company maintains a 95 per cent customer satisfaction rate which Sahin credits to her “Triple Bottom Line” philosophy of doing business – what’s good for clients and good for her team is also good for the shareholders. The investors in Globalization Partners reiterate the value of the company’s vision and Triple Bottom Line philosophy, and are collectively dedicated to maintaining their commitment to employees and customers.