US group People 2.0 merges with Swiss HR outsourcing specialist Capital GES
BCMS has advised Switzerland-based international employment specialist Capital GES on its successful merger with North America-based workforce deployment solutions provider People 2.0, in a move to create a new global market leader in outsourced HR services.
Capital GES is a market-leading provider of employer of record (EOR)/international PEO and agent of record (AOR) services in 30 countries across Europe, Latin America, Asia and Africa. For over 25 years, Capital GES has provided a wide range of tailor-made employment services for global staffing companies, employment intermediaries, and independent contractors. The company has major regional hubs in Switzerland and Brazil, with additional offices in the U.S. and Ireland.
People 2.0's comprehensive workforce deployment and outsourced back-office solutions enable employment intermediaries to expand their market reach and lower their operating costs, while ensuring regulatory compliance. The combination of the two companies will create the global market leader in workforce deployment solutions serving more than 2,000 clients and managing over 20,000 workers across five continents.
People 2.0's co-CEOs, Charles Miller and Erik Vonk, commented: "The merger with Capital GES accomplishes a key strategic priority for People 2.0 by providing our valued clients with the ability to deploy workers globally through our platform. Capital GES’ deep expertise in complex labour laws in international markets, coupled with its longstanding global client base, allows People 2.0 to realise its vision to become the leading independent global workforce deployment platform."
Brian Walters, CEO of Capital GES, added: "Given its scalable infrastructure and market-leading position in North America, we feel People 2.0 is the perfect partner to enable Capital GES to enhance its service offering to our clients and expand into new markets. More importantly, both companies share a very similar culture and vision: to provide talent acquisition managers and workforce deployment specialists with end-to-end global solutions while maintaining consistently high levels of service and compliance."
The transaction is the first since People 2.0 partnered with CIP Capital, a New York-based private equity firm focused on investing across the business information and tech-enabled sectors, earlier this year, and follows three successful acquisitions in the U.S. and Canada over the past three years.
Capital GES was supported by advisors BCMS (financial) and Eversheds (legal), while People 2.0 was advised by BDO (financial) and Wilkie (US legal) and Bär & Karrer (Swiss legal).
Simon Gregory, managing director of BCMS Switzerland, commented: "We have been working with the Capital GES shareholders to find a global partner to take this growing business to the next level. This deal is quite a game-changer in the global market, and we are delighted to have played a part in bringing two very similar businesses under the same ownership."