Investcorp completes of sale of PRO

Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, on Thursday announced the completion of its sale of PRO Unlimited by Investcorp and funds managed by Harvest Partners, LP, an established New York-based private equity firm, to EQT Private Equity, a global investment firm. The transaction was first announced on 28th June, 2021.

Investcorp originally acquired PRO Unlimited in October 2014 and retained a significant minority stake following the sale to funds managed by Harvest Partners in May 2017. Over the course of Investcorp’s partnership with its management team, PRO Unlimited realised significant growth and expansion. The company launched new products leveraging its proprietary data assets, invested in sales and marketing, completed two add-on acquisitions, expanded its geographic footprint and bolstered the executive team to drive continuous transformation.

Mohammed Alardhi, Executive Chairman at Investcorp, said, “Our private equity business in North America is one of our longest standing businesses and continues to be a priority for us as we expand and capitalize on opportunities in this region. Our partnership with the PRO Unlimited team has demonstrated an ability to nimbly innovate in the workforce management industry and gain a leadership position which is one we believe the company will continue to hold in the future.”