Workwell, a UK-based provider of tech-enabled, compliant employer of record and workforce management solutions, announced it is merging with PGC Group, a provider of employer of record services in North America.

The transaction sees the two businesses become one global company. According to Workwell, this is by far the largest of the acquisitions made by the company to date and represents a significant step change in presence and capability.

The transaction brings combined financial strength with a combined turnover in excess of £1.4 billion, fee incomes in excess of £50 million, and more than 40,000 contingent workers served globally.

The combined group will have in-country operations across North America, the UK and the majority of Europe, with further solutions covering the rest of the world, all united by a common tech platform.

According to the group, this provides the capability for Workwell to help the staffing and recruitment industry, and organisations wanting to hire in multiple countries, to expand internationally and to capitalise on the opportunities afforded by accessing global remote and flexible talent, backed by compliance assurance.

The leadership teams of both PGC and Workwell are unchanged. Adam Coleman, founder and CEO of PGC Group will join the board of Workwell.

Coleman commented, “Having seen the opportunity of providing global solutions; looking for a company that is strategically aligned and matches our approach to excellence and compliance, there was no other choice but Workwell.”

John Hoskin, CEO of the combined global business said, “For Workwell to become a global leader in employment and contractor management services, the provision of US capability is critical and has been on our strategic roadmap for some time. With a market-leading position, long-established reputation for quality and UK brand recognition, PGC Group was the obvious choice for us. The combined business creates a powerhouse in the global market space. In the rapidly evolving landscape of workforce solutions, we are now well positioned to capture maximum global market share.”

Workwell’s staffing clients include The Adecco Group, Harvey Nash, Hays, nGage, Reed, Sanderson and SThree. Corporate clinets include Expedia, Hello Fresh, Odeon Cinemas, Ray-Ban, Sainsbury’s, Samsung, Ted Baker and Tesco.

The employer of record market was estimated by Staffing Industry Analysts to be valued at $25-35 billion. Among the participants in the SIA study, it was estimated that global spending grew by 46% between 2021 and 2022.