We are advising PwC on the transaction

Davis Polk is advising PwC on the sale of its Global Mobility Tax and Immigration Services business to Clayton, Dubilier & Rice. The transaction is expected to close in the first half of 2022, subject to customary closing conditions including completion of certain local works council consultations. Financial terms of the transaction were not disclosed.

PwC’s Global Mobility Tax and Immigration Services practice is a market leader providing compliance, consulting and technology services for global employers and their mobile employees. PwC is a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in more than 100 companies with an aggregate transaction value of more than $150 billion.

The Davis Polk corporate team includes partners Harold Birnbaum and Oliver Smith and associates Jaime Kurtz, Brian Lee and Sharanjit Kaur Sandhu. The executive compensation team includes partner Veronica M. Wissel. The tax team includes partner Patrick E. Sigmon. The intellectual property and technology transactions team includes partner Pritesh P. Shah. Partner Hilary Dengel is providing finance advice. The antitrust and competition team includes partner Jesse Solomon. Members of the Davis Polk team are based in the New York and Washington DC offices.