https://arab.news/7msxh
Bahrain-based private equity company Investcorp has completed the sale of workforce management firm PRO Unlimited.
The transaction means PRO Unlimited is now under the umbrella of EQT Private Equity, a global investment firm.
Founded in 1991, PRO Unlimited provides services to address procurement, management and compliance issues related to contingent and temporary workers, including independent contractors, consultants and freelancers. It operates in over 50 countries across the globe.
Investcorp originally acquired PRO Unlimited in October 2014 and retained a significant minority stake following the sale to funds managed by Harvest Partners in May 2017.
Mohammed Alardhi, executive chairman at Investcorp said, “Our private equity business in North America is one of our longest standing businesses and continues to be a priority for us as we expand and capitalize on opportunities in this region.
"Our partnership with the PRO Unlimited team has demonstrated an ability to nimbly innovate in the workforce management industry and gain a leadership position which is one we believe the company will continue to hold in the future.”