Palladium Equity Partners LLC, a minority-owned private equity firms with nearly $3 billion in assets under management, has invested in Envoy Global, a tech-enabled global immigration services provider, alongside existing shareholders including Catalyst Investors and General Catalyst.
Envoy seeks to streamline the immigration process for employers and foreign nationals.
“We are excited to partner with Palladium as we continue on our mission to make it easier for people to work anywhere in the world,” said Dick Burke, president and chief executive officer of Envoy. “Over the past 23 years, companies have relied on Envoy to simplify the sponsorship and management of work visas and green cards globally. We believe there is a substantial opportunity to continue to introduce new customers to our offering as well as expand our solutions for companies and employees. Palladium will be a close strategic partner to us as we move forward.”
Alex Funk, principal at Palladium added, “Envoy’s mission strongly overlaps with Palladium’s heritage. Over Palladium’s nearly 25-year history, we have demonstrated that our team’s commitment to diversity is an important contributor to generating superior outcomes for all stakeholders. More than 70% of Palladium employees are minority or female, and many members of our team were born outside of the U.S. and personally recognize the impact of Envoy’s solutions, having experience with the U.S. immigration process themselves. We are thrilled to be partnering with Envoy, whose immigration solutions are mission critical to companies and empower people to work anywhere in the world. We are incredibly impressed with the business that Dick and his team have built, and we look forward to supporting Envoy in their next chapter of growth.”
David Orfao, partner at General Catalyst said, “We have been very impressed with Envoy’s growth over the past six years, realized through investments in technology, sales and buildout of a top-tier management team.”
“Envoy is in the early innings of transforming an industry,” said Susan Bihler, partner at Catalyst Investors and continuing Envoy board member. “We are excited to continue to be a part of the Company’s exciting growth story alongside Palladium.”
Raymond James served as financial advisor to Envoy on the transaction. Latham & Watkins LLP served as Envoy’s legal advisor. Robert W. Baird & Co. served as the financial advisor for Palladium. O’Melveny & Myers served as the legal advisor and financing counsel for Palladium.