PRO Unlimited to acquire Workforce Logiq via agreement with EQT Private Equity
PRO Unlimited, a modern workforce management platform provider, through an agreement with EQT Private Equity, is to acquire Workforce Logiq from funds managed by Carlyle later this year, subject to customary regulatory approvals.
This transaction will combine two leading-edge companies that share a common strategic approach in solving its diversified clients’ contingent workforce management needs through the power of a holistic platform. This combination will expand PRO’s position as a preferred provider to the Global 2000, enabling organisations to achieve their strategic talent acquisition and cost reduction objectives.
Through these transactions, PRO 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 its portfolio. Additionally, Workforce Logiq’s strong presence in EMEA, specifically in the Nordics, expands PRO’s already impressive global reach. As a result, PRO will enhance the scale and breadth of operations to enable the continued global expansion of its large and mid-market client base worldwide.
“Bringing Workforce Logiq into the PRO Unlimited family will allow us to extend our reach and synthesise two like-minded entities that share the same strategy and platform approach to contingent workforce management,” says Kevin Akeroyd, CEO at PRO Unlimited. “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 modernise 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 per cent of the workforce that is contingent (non-full-time).
“We are thankful for the leadership of Carlyle these past four years, and grateful for their counsel and strategic investments that have fundamentally transformed our company,” says Jim Burke, CEO at Workforce Logiq. “We continue our transformation journey with PRO. As one company, we will create a new choice for a scaled, global platform serving clients virtually anywhere in the world, continue to reimagine how companies achieve greater management, performance, and financial control over their workforce and talent supply chains, and offer our employees new opportunities for professional growth.”
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.