Velocity Global announced today it acquired iWorkGlobal, a wholly owned subsidiary of Gary D. Nelson and Associates. The company said the deal, which closed April 1, will create the largest global provider of employer-of-record services. Velocity also announced it received a $100 million minority growth investment from FFL Partners, a San Francisco-based private equity firm.
The FFL investment will go toward additional acquisitions by Velocity Global as well as technology development and further expansion of the company’s global footprint.
“This strategic acquisition combines scale and expertise in a single platform for companies to employ top talent in another state or another country, quickly and compliantly,” said Ben Wright, Velocity Global founder and CEO. “We welcome the iWorkGlobal team, its clients, supported employees and partners to the Velocity Global family at an inflection point for companies as we exit a pandemic that fundamentally removed the worker from the workplace.”
Source: Staffing Industry Analysts
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