ContinuServe, a leader in IT and Finance Business Process Outsourcing, is excited to announce its partnership with Globalization Partners which enables companies to hire great talent anywhere in the world quickly and easily, without setting up foreign branch offices or subsidiaries. ContinuServe believes this partnership will greatly help private equity firms and corporate buyers execute carve-out acquisition transactions.
Carve-outs are transactions when a corporation sells a business unit, division, or product line. In these transactions, another firm will buy these carve-out units and then operate them. Typically, in carve-out transactions, the sold unit does not come with back-office functions like information technology, finance & accounting, and human resources. Therefore, the buyer of the unit must ramp-up these back-office functions quickly to maintain business continuity.
As part of ContinuServe’s value proposition to those purchasing carve-outs, ContinuServe has its Rapid Execution and Operations (REO) network of world-class service providers who can help accelerate the timeline for a carve-out and support an excellent outcome. Globalization Partners provides a high-quality solution to onboard employees located across the globe who may be transferred to a new carved-out entity from the parent company. This means that private equity firms and the management of the carve-out do not have to worry about the expense and complexity of setting up new business entities across the globe or manage the complex compliance HR and legal issues.
Globalization Partners’ employer of record services provide a way to minimize the timeline and friction associated with carve-outs that include onboarding employees located in multiple countries.
Pradeep Khurana, Managing Director of ContinuServe, says of the initiative “Our service offerings are very complementary, and we are thrilled to work with Globalization Partners. This partnership will enable us to help accelerate our private equity firm clients’ ability to absorb a carve-out. ContinuServe provides finance, accounting, and IT back office, while Globalization Partners provides HR, legal, and employee onboarding functions.”
Nate Medoff, Managing Director of ContinuServe, says of the partnership, “We are very excited about this relationship that will enable us to serve this dynamic market together.”
Kevin Burke, Director of Strategic Alliances-Private Equity, Globalization Partners says, “We see a lot of opportunities to deliver a seamless solution to our private equity clients and look forward to what we can accomplish together with ContinuServe.”
The ContinuServe team has resources of over 450 staff members, who can deliver IT and financial services to these carved-out units.