EQT has, through its EQT IX fund, agreed to acquire Pro Unlimited Global Solutions Inc., a provider of contingent workforce management services, 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.
Kasper Knokgaard, partner within EQT Private Equity’s advisory team, said, “EQT is excited to invest in Pro Unlimited and partner with CEO Kevin Akeroyd and the full Pro Unlimited team as the Company embarks on the next phase of continued growth. Pro Unlimited has been at the forefront of developing a fulsome suite of integrated solutions for companies to manage their contingent workforce through a combination of services, software, and data. We look forward to supporting the continued expansion of the platform to enable more flexible work solutions for the evolving contingent industry.”
Andrew Schoenthal, partner at Harvest Partners, said, “Through multi-year investments in people, technology and data, Pro Unlimited has developed among the most comprehensive contingent workforce platforms for large and global companies. We are excited to watch Kevin and his team build upon the enormous success that the Company has achieved to date and continue to bring new innovations to the market.” Harvest’s PRO Unlimited investment team is led by Ira Kleinman, Andrew Schoenthal and David Schwartz.
Kevin Akeroyd, CEO of Pro Unlimited, said, “We are proud of what Pro Unlimited has achieved in recent years in collaboration with Harvest Partners and Investcorp. The contingent labor industry is experiencing strong growth, fueled by workers desire for increased autonomy and flexibility. We are delighted to provide the solutions to enable enterprises and the contingent workforce to meet their needs. We look forward to partnering with EQT and leveraging their industry expertise, digital capabilities, and network of advisors.”
EQT Private Equity was advised by BofA Securities, Sidley Austin LLP, McKinsey & Co. and Alvarez & Marsal. Pro Unlimited, Harvest Partners and Investcorp were advised by William Blair and White & Case.