Clayton, Dubilier & Rice Reaches Agreement to Acquire PwC's Global Mobility Tax and Immigration Services Business

Transaction Will Create the Independent Leader in Global Mobility Tax and Immigration Services for Multinational Organizations

LONDON and NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Clayton, Dubilier & Rice and PwC today announced an agreement under which CD&R funds will acquire PwC's Global Mobility Tax and Immigration Services business. The business is the global leader in employee tax, immigration, business travel, mobility managed services, and payroll solutions to multinational organizations and their employees. Terms of the transaction were not disclosed.

The Global Mobility Tax and Immigration Services business serves more than 3,000 multinational clients worldwide. The business helps organizations manage global talent mobility, while providing personalized, high-quality tax and immigration services to cross-border employees, as they navigate compliance issues associated with global employment. The transaction will create a free-standing, global platform with more than 5,700 professionals hyper-focused on a seamless cross-border experience for clients, while accelerating investment in technology and new services.

Throughout its more than 50-year history, the business has been the leader in global mobility services, supporting its clients' talent mobility programs by helping solve cross-border employment challenges. Recently, the business enhanced its service offerings to reflect the changing needs of clients and their cross-border employees throughout the pandemic.    

"We are excited for the opportunity to become a free-standing organization and partner with CD&R to build on our market leadership and drive more value for clients," said Peter Clarke, Global Managing Partner for Global Employee Mobility at PwC, who will be CEO of the new company. "The pandemic proved that global employment issues remain a key challenge for companies, especially as compliance requirements become more complex. Our partnership with CD&R will allow us to accelerate our technology investments to offer what our clients are asking for: an integrated digital experience across the entirety of the talent mobility ecosystem. These technology investments along with our new global operating model will support an even more differentiated service experience for our clients with the same laser focus on the quality and confidentiality of the services we provide to our cross-border employee clients, while providing expanded and rewarding career opportunities for our team."