By Karen PantinasDecember 2020
Reading Time: 3 minutes
Research says managing talent through a transition can make or break a deal; now buyers and sellers can shorten the transaction time and still protect their most valuable asset: people
Boston – Dec. 15, 2020 – Globalization Partners, which enables companies to hire anyone, anywhere, quickly and easily, via its automated and fully-compliant global Employer of Record (EOR) platform, today announced the creation of a dedicated merger, acquisition, and carve-out specialty team. Led by Globalization Partners’ Kevin Burke, Director, Private Equity and Venture Capital, it will focus on streamlining international business transactions by simplifying the process of onboarding newly acquired international team members.
Many companies use M&A to enter new markets, acquire new talent, create and add value to their portfolios, and grow their customer base. But with the failure rate for these transactions sitting between 70 and 90 percent, it’s not always an easy process. A successful integration is often entirely dependent on having the target’s team engaged, motivated, and strategically aligned with the acquirer’s mission. With Globalization Partners, sellers can reduce dependence on transition service agreements (TSAs), and buyers can dramatically cut the time it takes to compliantly onboard global headcount–without having to set up an entity in the country where the human capital is located. This cuts the process from months–or in some cases, years–to as little as a few business days.
“Globalization Partners has advised and supported a number of our clients in M&A transactions and they have been a huge asset to us in strategically aligning and providing a tremendous amount of value to our clients’ portfolio companies,” said Joe Moran, Senior Partner and Business Development Manager, EBS. “The solution Globalization Partners provides to ease the process of onboarding newly-acquired international team members is transformative for companies. I have been fortunate to work with many members of the Globalization Partners team over the years and there is a consistent theme there: passionate, approachable, and effective.”
The new team helps companies support international transactions by enabling the ability to:
● Meet and reduce TSA timelines
Globalization Partners ensures international employment offers are finalized and ready to be presented prior to acquisition close, with critical infrastructure such as payroll, benefits, etc. already in place. The parent company is now empowered to hire globally in just days versus months, with sellers able to transfer headcount and associated expense and responsibility to the parent company almost instantly.
● Onboard employees without a local entity
Companies can transfer headcount with no legal entity setup required. Buyers can offer employment contracts in 187 countries and Globalization Partners’ HR experts handle the transaction. Globalization Partners also provides country-by-country guidance on comparable benefits packages, even for the smallest of teams.
● Retain human assets and ensure compliance
Buyers can offer competitive benefits packages to retain talent and stay compliant with local labor laws. Globalization Partners has the largest team of in-house employment attorneys to recommend risk management strategies around employment contracts–especially when dealing with countries specific to TUPE (Transfer of Undertaking Protection of Employment).
“Before, during, or after transaction close, Globalization Partners reduces the complexity of acquiring cross-border assets,” said Kevin Burke, Director, Private Equity and Venture Capital,” Globalization Partners. “We provide a roadmap for buyers and sellers followed by a solution that is already set up, via our Global Employer of Record platform. Our team manages international transactions across the board, enabling businesses to acquire or sell assets quickly, easily, and compliantly within multiple countries.”
Globalization Partners is the only Global Employer of Record (EOR) with an AI-driven technology platform and an in-house global legal infrastructure, which ensures the quality and compliance it provides to customers. The combination is critical given that an EOR manages the intellectual property generated by employees and other complex cross-border matters for its customers. As an EOR, Globalization Partners serves as the legal employer– handling payroll, taxes, and benefits, and ensuring compliance with local employment laws and regulations–freeing up companies to manage and direct the daily work of their team members.
To learn more:
● Please visit: Globalization Partners: We Support Global M&A Transactions
● Download our comprehensive playbook: Mergers and Acquisitions Playbook