Multidisciplinary team from HSF pitches in on global acquisition

Working on the transaction “required the coordination of several parties across multiple jurisdictions and time zones,” a firm partner says

Multidisciplinary team from HSF pitches in on global acquisition

Herbert Smith Freehills (HSF) has put together a multidisciplinary team to provide advice on a global acquisition.

The team assisted New York-based private equity firm CIP Capital as its portfolio investment People 2.0 Global LLC snapped up Entity Solutions Group. People 2.0 is a tech-enabled workforce deployment platform that offers employer of record (EOR) and agent of record (AOR) services worldwide.

HSF said that the acquisition enables People 2.0 to meet its goal of “offering the first truly global EOR/ AOR solution in the industry.”

“The acquisition of ESG, which also leverages technology to provide EOR and associated back-office services, will assist People 2.0 in further accelerating growth across its global platform,” the firm said.

Moreover, the transaction is in line with CIP Capital’s aim to “create value through a platform investment strategy by augmenting organic growth opportunities with strategic following-on acquisitions that can diversify a company’s service offering, end-markets and geographic reach across fragmented markets,” HSF said.

Venture capital head and partner Peter Dunne headed the firm’s deal team on the transaction, with support from senior associate Wendy Tian and solicitor Emily Paterson.

“We are delighted to have assisted the CIP Capital and People 2.0 teams on this global transaction. We look forward to watching the ESG and People 2.0 business grow and succeed as a global leading provider of workforce deployment services,” Dunne said.

Dunne’s group also collaborated with HSF’s acquisition and leveraged finance team, which was spearheaded by partner Melita Cottrell.

“Congratulations to all parties involved on completing this transaction. This global deal required the coordination of several parties across multiple jurisdictions and time zones, and each party showed a great deal of hard work, skill and diligence,” Cottrell said.

She was supported by senior associate Adam Roberts, solicitor James de Szell, and graduate Katherine Duong.

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