PRO Unlimited, which is backed by EQT, has agreed to acquire Geometric Results from Bain Capital Private Equity Europe. No financial terms were disclosed. PRO Unlimited is an integrated workforce management platform provider.
Burlingame, CA and Southfield, Michigan March 29, 2022 – PRO Unlimited, an integrated workforce management (IWM) platform provider, today announced that it will acquire Geometric Results, Inc. (GRI), a leading independent, outsourced workforce management expert, owned by funds managed by Bain Capital Private Equity Europe. This acquisition will increase the value of PRO’s IWM platform by adding GRI’s proven Managed Services Program (MSP) capabilities to its robust portfolio of SaaS, Talent Intelligence and Professional Services solutions.
The proposed GRI transaction continues PRO’s organic and M&A growth journey. The addition of GRI’s services includes SOW optimization, proactive sourcing, market intelligence, and supplier engagement. This will reinforce PRO’s offering for customers including Fortune 1000 and mid-market organizations across multiple industry verticals. It will further enhance the PRO client experience by broadening and deepening the services it offers companies in the areas of strategic talent acquisition, cost savings and growth goals related to their contingent workforce management programs.
“Our number-one priority is providing organizations with the most innovative and client-centric solutions to accelerate how they acquire, manage and optimize talent,” said Kevin Akeroyd, CEO, PRO Unlimited. “GRI shares this same strategic approach for its customers. Combining two leading contingent workforce management companies allows us to reimagine and transform the future of work.”
Akeroyd added, “With GRI’s team of experts and ours, we have a new opportunity to innovate, anticipate and solve future workforce management challenges. Our existing and new clients will be able to rely on us for greater management, performance and financial control over their workforce and talent supply chains.”
GRI is currently owned by MSX International, a portfolio company of funds managed by Bain Capital Europe that provides technology-enabled business process outsourcing. GRI offers customized MSP solutions to over 150 global clients, with over $4 billion in spend under management. Its presence in both the UK and India further extends PRO’s established operations in these countries, and increases its vast supplier network of over 10,000 agencies. With the proposed acquisition, the combined client spend under management for PRO will reach over $22 billion.
“GRI continues to exceed growth expectations due to the contributions of our team and partners at Bain Capital Private Equity, our ability to remain aligned with clients and our commitment to over-deliver with a broad suite of capabilities,” said Mike Wachholz, CEO of GRI. “Their strategic and operational expertise has helped us build a highly scalable model to support further market penetration and diversification, and we’re incredibly excited to continue our growth journey in concert with PRO Unlimited.”
“PRO is set to be a great home for the future of our employees and our customers, who will now benefit from a broad portfolio of services via the comprehensive PRO platform,” said Fred Minturn, Chairman of MSX International. “Over the last five years, the business has grown tremendously under Mike and Fred’s leadership through the introduction of new services (including Statement of Work and Direct Sourcing), investment into its state-of-the-art EnvisionTM analytics platform and transformative M&A. We want to thank the whole team for the shared success,” said David Danon, a Managing Director at Bain Capital Private Equity Europe.
The transaction is subject to customary conditions and approvals. Sidley Austin LLP, Morgan Lewis, PwC and Alvarez and Marsal advised PRO Unlimited. William Blair served as exclusive financial advisor, Kirkland & Ellis LLP served as legal advisor and PwC served as accounting and tax advisor to GRI and Bain Capital Private Equity.
About PRO Unlimited
Serving hundreds of the world’s most recognizable brands, PRO Unlimited offers modern workforce management and a partner ecosystem supported by data, software, intelligence and services to meet your flexible workforce needs. PRO’s Integrated Workforce Management platform can adapt quickly to regional or industry economic shifts, and provides the speed, scale, flexibility, transparency and expertise to serve as the holistic platform for the modern workforce. Headquartered in Burlingame, California, PRO has helped global brands and organizations achieve operational and financial success for more than 30 years. http://www.prounlimited.com