Clayton, Dubilier & Rice buys PwC’s mobility, tax and immigration services business

The cross-border transaction was valued at $2.2 billion, and involved various jurisdictions, including Mexico.

As part of the transaction, Vialto Partners will become a newly branded entity upon its acquisition from Pricewaterhouse Coopers.

PwC’s 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.

“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,” according to PwC.

“Recently, the business enhanced its service offerings to reflect the changing needs of clients and their cross-border employees throughout the pandemic,” the company added.

The transaction will create a free-standing, global platform with more than 5,700 professionals focused on cross-border experience for clients, while accelerating investment in technology and new services.

“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,” Peter Clarke, global managing partner for global employee mobility at PwC, said, and 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,” he said.

CD&R Galaxy UK Opco Limited was advised on the transaction in Mexico by law firm Von Wobeser y Sierra, with a team led by partner Luis Burgueño and Rodolfo Trampe, and who were assisted by associates Jaime Ostos, Laura Maldonado, Elias Jalife, Nallely Van Pratt and Mauricio Tatto.

The company was advised in the US by law firm Debevoise & Plimpton, with a team led by partners Paul Brid and Jennifer Chu, with associates Dominique Trudelle, Margaret Howard and James Malmo.