EmployBridge to Acquire IAC’s Bluecrew Business Unit

Paul, Weiss is advising EmployBridge, a leading provider of technology-enabled, light industrial workforce solutions and an Apollo portfolio company, in its acquisition of IAC’s Bluecrew business unit, the first hourly W-2 workforce-as-a-service platform. Under the terms of the transaction, announced on October 4, IAC will receive consideration in the form of cash and combined company stock, becoming a minority shareholder in the combined company. Apollo funds will remain the combined company’s controlling shareholder.

The deal is expected to close in the fourth quarter of 2022, subject to customary closing conditions. Upon completion, the combined company will generate over $4 billion of pro forma revenue.

The Paul, Weiss team includes, among others, corporate partner Brian Kim and counsel Erika Cohen and Gabriella Toossi; executive compensation partner Rebecca Coccaro; tax partner Brian Grieve and counsel Anne McGinnis; intellectual property partner Charles Googe; litigation counsel Daniel Levi; real estate partner Peter Fisch; antitrust counsel Marta Kelly and Yuni Sobel.