Acquisition Creates a Global Supply Chain and Risk Management Powerhouse, Only Provider Committed to Identifying and Mitigating Risk at the Company, Worker, and Worksite Levels
HOUSTON—Veriforce, the supply chain risk and compliance management industry's fastest-growing solution provider, today announces the acquisition of Calgary, Alberta-based ComplyWorks, Canada's leading compliance management solution provider. The combined company creates a global platform of technology and services, empowering 800 leading companies in 120 countries with over 50,000 contractors and millions of individual workers in a broad spectrum of risk mitigation practices designed to ensure safe, compliant business operations.
Veriforce and ComplyWorks serve small, medium and large multinational clients in numerous industry sectors. Together, the combined company will provide premier third-party risk management solutions to leading edge global companies.
The acquisition of ComplyWorks is an important milestone for Veriforce as it strengthens its commitment to help companies manage their third-party workforce, navigate complex safety and regulatory environments, and manage business continuity and environmental sustainability risk. Adding ComplyWorks to the Veriforce Network enables it to broaden its industry base, and positions the new company as a dominant player in the global supply chain risk management sector.
"We're thrilled by what the acquisition of ComplyWorks adds to the Veriforce Network," said Colby Lane, Veriforce CEO of the combined company. "It's a robust business--with a rich history, loyal customers, outstanding talent and an extensive global footprint – and will play a pivotal role in our go-forward strategy. Our combined company is now at the forefront of the industry in terms of customers served, global reach, breadth of solution and growth rate."
"At a time when safety and risk management are top of mind for companies worldwide, we're honored to join forces with Veriforce to provide the industry's most comprehensive solution for managing risk," said Cal Fairbanks, former president and CEO of ComplyWorks, who will now serve a strategic advisor to the combined company.
Veriforce was advised by Harris Williams LLC as financial advisor and Kirkland & Ellis LLP and McMillan LLP as legal counsel. ComplyWorks was advised by Dentons as legal counsel.
Veriforce® is a recognized leader in delivering comprehensive, integrated supply chain risk management solutions that help bring workers home safely and optimize business performance. The company's SaaS safety and compliance platform, data integrity and verification practices, and standardized safety training programs empower leading organizations to drive safety and compliance into their supply chains and down to the worker-level.
Veriforce acquired Canada-based ComplyWorks in August 2020, creating the world's premier supply chain risk performance network, comprising more than 800 hiring clients, more than 50,000 contracting companies, 9,000 accredited safety trainers and authorized evaluators, and over 2.5 million workers. It's this network that makes Veriforce the preferred partner for companies that strive to ensure a safe, qualified third-party workforce, to stay ahead of risk, and achieve optimal business performance. Company offices are in Houston; Covington, LA; Calgary, AB; and Toronto, ON Canada.
For more information visit www.veriforce.com.
ComplyWorks is a global leader in compliance management. Since its inception in 2004, the company has expanded its reach to over 120 countries while retaining its focus on its clients. The company's web-based solutions cover the entire compliance lifecycle from contractor management to workforce management, worksite management and payment. For more information, visit: www.complyworks.com.
Read the press release on the PR Newswire website here.