FFL Partners Invests in Velocity Global

April 29, 2021

Willkie represented FFL Partners in the transaction.

On April 6, Velocity Global, a leading provider of global expansion solutions, announced its acquisition of global workforce management provider iWorkGlobal and a $100 million growth investment from private equity firm FFL Partners. The combined company, under the Velocity Global name, creates the largest U.S. domestic and global Employer of Record (EoR) and accelerates the future of remote work for companies around the world.

The investment from FFL Partners will also be deployed by Velocity Global to support additional strategic acquisitions, technology development, and to further expand the company’s global footprint.

Velocity Global provides support and global infrastructure for companies to hire compliantly without the cost or complexity of setting up their own foreign legal entities or state registrations. Velocity Global guides, counsels, and serves more than 700 brands and their 4,000 supported employees, with clients including small start-ups to enterprise businesses.

FFL Partners is a San Francisco-based private equity firm with over $4.5 billion under management, pursuing investments in business services and healthcare services.

The Willkie team was led by partners Neil Townsend and included Thomas Spencer, Dave Cosgrove, Russ Pinilis, Mark Holdsworth and Andy Spital.