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Palladium Equity Partners Invests in Envoy Global, a Tech-Enabled Employment Based Immigration Services ProviderNEW YORK and CHICAGO, Sept. 21, 2021 /PRNewswire/ -- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), one of the nation's oldest minority-owned private equity firms with nearly $3 billion in assets under management, today announced that it has invested in Envoy Global, a mission-driven, tech-enabled global immigration services provider, alongside existing shareholders including Catalyst Investors and General Catalyst. Envoy seeks to streamline the immigration process for employers and foreign nationals. It is one of the only workforce management platforms that combines proprietary technology and expert legal representation to make it possible for companies to hire and manage an international workforce. Envoy serves close to 1,000 customers in a broad range of industries, including the technology sector, with an emphasis on STEM workforce needs. "We are excited to partner with Palladium as we continue on our mission to make it easier for people to work anywhere in the world," said Dick Burke, President and Chief Executive Officer of Envoy. "Over the past 23 years, companies have relied on Envoy to simplify the sponsorship and management of work visas and green cards globally. We believe there is a substantial opportunity to continue to introduce new customers to our offering as well as expand our solutions for companies and employees. Palladium will be a close strategic partner to us as we move forward." Alex Funk, Principal at Palladium added, "Envoy's mission strongly overlaps with Palladium's heritage. Over Palladium's nearly 25-year history, we have demonstrated that our team's commitment to diversity is an important contributor to generating superior outcomes for all stakeholders. More than 70% of Palladium employees are minority or female, and many members of our team were born outside of the U.S. and personally recognize the impact of Envoy's solutions, having experience with the U.S. immigration process themselves. We are thrilled to be partnering with Envoy, whose immigration solutions are mission critical to companies and empower people to work anywhere in the world. We are incredibly impressed with the business that Dick and his team have built, and we look forward to supporting Envoy in their next chapter of growth." Catalyst Investors and General Catalyst will both retain minority equity stakes in Envoy and continue to support the Company going forward. David Orfao, Partner at General Catalyst said, "We have been very impressed with Envoy's growth over the past six years, realized through investments in technology, sales and buildout of a top-tier management team." "Envoy is in the early innings of transforming an industry," said Susan Bihler, Partner at Catalyst Investors and continuing Envoy board member. "We are excited to continue to be a part of the Company's exciting growth story alongside Palladium." Raymond James served as financial advior to Envoy on the transaction. Latham & Watkins, LLP served as Envoy's legal advisor. Robert W. Baird & Co. served as the financial advisor for Palladium. O'Melveny & Myers served as the legal advisor and financing counsel for Palladium. The transaction terms were not disclosed. About Envoy Website, technology platform and administrative services are provided by Envoy Global Inc., a Delaware corporation. U.S. legal services are provided by two U.S. law firms -- Global Immigration Associates, PC and Corporate Immigration Partners, LLP. Global immigration services are provided by Envoy or Envoy's global immigration service providers. All U.S. legal and global immigration services are fully integrated with the Envoy Platform for a seamless customer experience. Please visit www.envoyglobal.com for more information. About Palladium Equity Partners, LLC Palladium is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. For more information on Palladium, please visit www.palladiumequity.com. About Catalyst Investors About General Catalyst Media Contacts
View original content:https://www.prnewswire.com/news-releases/palladium-equity-partners-invests-in-envoy-global-a-tech-enabled-employment-based-immigration-services-provider-301381401.html SOURCE Palladium Equity Partners, LLC |