EQT Private Equity’s Acquisition of PRO Unlimited

Sidley Austin LLP advised EQT Private Equity on the deal, while White & Case LLP advised PRO Unlimited Global Solutions Inc.

EQT announced that the EQT IX fund has agreed to acquire PRO Unlimited Global Solutions Inc., a leader in contingent workforce management solutions, from funds managed by Harvest Partners, LP and its affiliates and Investcorp. Following the close of the transaction, EQT Private Equity will be the majority shareholder and the existing PRO Unlimited management team will continue to operate the business.

PRO Unlimited was established in 1991 to assist large companies in managing their contingent workforce to better attract specialist talent seeking a more flexible work solution. Today, the Company’s integrated solutions have grown to incorporate a managed service program, vendor management software, direct sourcing and data and analytics capabilities. The platform handles the significant complexities of running an effective contingent workforce program on behalf of enterprise clients, fulfilling a multitude of tasks including discovering a client’s staffing needs, finding and evaluating candidates, hiring, onboarding, providing payroll and offboarding the contingent workers. PRO Unlimited is differentiated through its focus on high-skilled labor, its staffing agency-neutral approach, and its unique integrated solutions of services, software, and proprietary market data. The Company is headquartered in San Francisco with global capabilities and has approximately 1,400 total employees.

EQT will leverage its extensive experience partnering with technology-enabled services businesses, in-house digital expertise and network of global EQT advisors to support PRO Unlimited in its next phase of development as the Company continues to invest in technology and innovation to expand its integrated platform capabilities.

The transaction is subject to customary conditions and approvals. It is expected to close in the second half of 2021.

EQT Private Equity was advised by BofA Securities, Sidley Austin LLP, McKinsey & Company and Alvarez & Marsal. PRO Unlimited, Harvest Partners and Investcorp were advised by William Blair and White & Case.

The Sidley team was led by New York Private Equity partner Brien Wassner (Picture) and San Francisco Private Equity partner Vijay Sekhon. The Corporate deal team included associates Emily Hunter, Kathryn Betts, Anna Razzaio, and Jake McDonough. Employee Benefits and Labor, Employment and Immigration partners Eric Hoffman, Benjamin Rosemergy, and Eric Wolf, counsel Galit Knotz, senior associate Peter McCorkell, and associates Karim Pirani and Li Wang were instrumental in completing this transaction. Other transactional support was provided by Global Finance partner Joshua Thompson, counsel Louis Vitale, and associate Samuel Borland; Insurance counsel Scott Goldstein; Antitrust partner Karen Kazmerzak, counsel Elizabeth Chen, and senior associate Ellen Thomson; Private Equity partner Fatema Orjela; Tax partners Laura Barzilai and Tara Lancaster as well as associates Jennifer Waclawik, Jonathan Westreich, and Laurence Wilcock; and Technology and IP Transactions partner Jennifer Coplan, counsel Dusan Clark, and associates Kyle Barnett and Summer Danzeisen. The regulatory team involved in this deal included Global Arbitration, Trade and Advocacy partners Barbara Broussard, Sven De Knop, and James Mendenhall as well as associates Carys Golesworthy and Alessandra Moroni; Environmental counsel Maureen Crough and associate Allen Braddock; and Privacy and Cybersecurity partner Alan Charles Raul and associate Stephen McInerney. The Litigation team included partners Richard Klingler, Alex Kaplan, and Michael D. Mann as well as associate Deborah Sands.

The White & Case team that advised PRO Unlimited on the transaction was led by partners John Reiss and Luke Laumann, and included associate Matthew Hendy.

Involved fees earner: Kyle Barnett – Sidley Austin LLP; Laura Barzilai – Sidley Austin LLP; Kathryn Betts – Sidley Austin LLP; Samuel Borland – Sidley Austin LLP; Allen Braddock – Sidley Austin LLP; Barbara Broussard – Sidley Austin LLP; Elizabeth Chen – Sidley Austin LLP; Dusan Clark – Sidley Austin LLP; Jennifer Coplan – Sidley Austin LLP; Maureen Crough – Sidley Austin LLP; Sven De Knop – Sidley Austin LLP; Scott Goldstein – Sidley Austin LLP; Carys Golesworthy – Sidley Austin LLP; Eric Hoffman – Sidley Austin LLP; Emily Hunter – Sidley Austin LLP; Alex Kaplan – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Richard Klingler – Sidley Austin LLP; Galit Knotz – Sidley Austin LLP; Tara Lancaster – Sidley Austin LLP; Michael Mann – Sidley Austin LLP; Peter McCorkell – Sidley Austin LLP; Stephen McInerney – Sidley Austin LLP; James Mendenhall – Sidley Austin LLP; Alessandra Moroni – Sidley Austin LLP; Fatema Orjela – Sidley Austin LLP; Karim Pirani – Sidley Austin LLP; Alan Charles Raul – Sidley Austin LLP; Anna Razzaio – Sidley Austin LLP; Benjamin Rosemergy – Sidley Austin LLP; Vijay Sekhon – Sidley Austin LLP; Joshua Thompson – Sidley Austin LLP; Ellen Thomson – Sidley Austin LLP; Louis Vitale – Sidley Austin LLP; Jennifer Waclawik – Sidley Austin LLP; Li Wang – Sidley Austin LLP; Brien Wassner – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP; Laurence Wilcock – Sidley Austin LLP; Eric Wolf – Sidley Austin LLP; Matthew Hendy – White & Case; Luke Laumann – White & Case; John Reiss – White & Case;

Law Firms: Sidley Austin LLP; White & Case;

Clients: EQT Partners; PRO Unlimited;

Martina Bellini

Author: Martina Bellini