Clayton, Dubilier & Rice’s Acquisition of PwC’s Global Mobility Tax and Immigration Services

Homburger, Davis Polk and Paksoy advised PwC on the deal, while Debevoise & Plimpton advised Clayton, Dubilier & Rice.

PwC announced the sale of its Global Mobility Tax and Immigration Services business to Clayton, Dubilier & Rice. The transaction is expected to close in the first half of 2022, subject to customary closing conditions including completion of certain local works council consultations. 

PwC’s Global Mobility Tax and Immigration Services practice is a market leader providing compliance, consulting and technology services for global employers and their mobile employees. 

Clayton, Dubilier & Rice, LLC operates as a private equity firm. The Company invests in retail, healthcare, technology, and consumer products sectors, as well as offers investment management, advisory, and other financial services. 

The Davis Polk corporate team included partners Harold Birnbaum (Picture) and Oliver Smith and associates Jaime Kurtz, Brian Lee and Sharanjit Kaur Sandhu. The executive compensation team includes partner Veronica M. Wissel. The tax team includes partner Patrick E. Sigmon. The intellectual property and technology transactions team includes partner Pritesh P. Shah. Partner Hilary Dengel is providing finance advice. The antitrust and competition team includes partner Jesse Solomon.

The Debevoise team is led by M&A partners Paul Bird and Jennifer Chu and includes counsel Naomi Aoyama, Christopher Garrett, Philippe Tengelmann and Philipp von Holst, associates Dominic Blaxill, Julia Chen, Katherine Durnan, Jake Grandison, Margaret Howard, Rosanne Lariven, James Malmo, Joel Salomon, Zachary Sosah and Dominique Trudelle, finance partner Scott Selinger and associates Richard Hughes and Jonathon Yeung, benefits partner Meir Katz and associate Andrea Acosta, tax partner Michael Bolotin, counsel Jennifer Wheater and associates Erasmo Perez and Lena Smith, capital markets partner Steven Slutzky and counsel Joshua Samit, intellectual property partner Henry Lebowitz and associate Emily Mackay and Paisley Piasecki, antitrust partner Timothy McIver and associate Kayleigh Anderson, data strategy and security partner Luke Dembosky, counsel Johanna Skrzypczyk and law clerk Omid Golmohammadi, and litigation counsel Erich Grosz and Friedrich Popp and associate Robert Maddox.

The Paksoy team included Partner Elvan Aziz, Senior Associate Gulce Saydam Pehlivan, and Associate Asli Eryilmaz.

The Homburger team is being led by partner Daniel Hasler (Corporate / M&A) and includes partner Franz Hoffet (Competition, Regulatory), counsel Peter Müller (Tax, Employment and Executive Compensation) and associates Carlo Sulser (Corporate / M&A), Lisa Imhof and Anissa Kern (both Employment and Executive Compensation).

Involved fees earner: Harold Birnbaum – Davis Polk & Wardwell; Hilary Dengel – Davis Polk & Wardwell; Jaime Kurtz – Davis Polk & Wardwell; Brian Lee – Davis Polk & Wardwell; Sharanjit Kaur Sandhu – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell; Oliver Smith – Davis Polk & Wardwell; Jesse Solomon – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell; Andrea Acosta – Debevoise & Plimpton; Kayleigh Anderson – Debevoise & Plimpton; Naomi Aoyama – Debevoise & Plimpton; Paul Bird – Debevoise & Plimpton; Dominic Blaxill – Debevoise & Plimpton; Michael Bolotin – Debevoise & Plimpton; Julia Chen – Debevoise & Plimpton; Jennifer Chu – Debevoise & Plimpton; Luke Dembosky – Debevoise & Plimpton; Katherine Durnan – Debevoise & Plimpton; Christopher Garrett – Debevoise & Plimpton; Jake Grandison – Debevoise & Plimpton; Erich Grosz – Debevoise & Plimpton; Margaret Howard – Debevoise & Plimpton; Richard Hughes – Debevoise & Plimpton; Meir Katz – Debevoise & Plimpton; Rosanne Lariven – Debevoise & Plimpton; Henry Lebowitz – Debevoise & Plimpton; Emily Mackay – Debevoise & Plimpton; Robert Maddox – Debevoise & Plimpton; James Malmo – Debevoise & Plimpton; Timothy McIver – Debevoise & Plimpton; Erasmo Perez – Debevoise & Plimpton; Paisley Piasecki – Debevoise & Plimpton; Friedrich Popp – Debevoise & Plimpton; Joel Salomon – Debevoise & Plimpton; Joshua Samit – Debevoise & Plimpton; Scott Selinger – Debevoise & Plimpton; Johanna Skrzypczyk – Debevoise & Plimpton; Steven Slutzky – Debevoise & Plimpton; Lena Smith – Debevoise & Plimpton; Zachary Sosah – Debevoise & Plimpton; Philippe Tengelmann – Debevoise & Plimpton; Dominique Trudelle – Debevoise & Plimpton; Philipp von Holst – Debevoise & Plimpton; Jennifer Wheater – Debevoise & Plimpton; Jonathon Yeung – Debevoise & Plimpton; Daniel Hasler – Homburger; Franz Hoffet – Homburger; Lisa Imhof – Homburger; Peter Müller – Homburger; Carlo Sulser – Homburger; Elvan Aziz – Paksoy; Asli Eryilmaz – Paksoy; Gulce Saydam Pehlivan – Paksoy; Anissa Kern – Walder Wyss Ltd.;

Law Firms: Davis Polk & Wardwell; Debevoise & Plimpton; Homburger; Paksoy; Walder Wyss Ltd.;

Clients: Clayton Dubilier & Rice; PwC Corporate Finance and Recovery (Cayman) Ltd.;

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Author: Alejandro Girola