Date: November 2022
Project: Acquisition Support
Sector: Business Services
Role: Financial analysis and modelling support for the acquisition
Forward support TopSource Worldwide on the acquisition of Blueback
Forward is delighted to continue its relationship with Horizon Capital backed TopSource Worldwide, supporting the management on the acquisition of Blueback Global.
TopSource Worldwide is a provider of payroll and Employer of Record services. Following investment by Horizon in 2020, the business has made seven acquisitions expanding its services and delivery locations for its global client base.
Blueback Global is a California-based leader in global expansion service, providing employer of record, entity set-up, entity management, multi-country payroll and global HR solutions for its customers across 50 global markets.
The acquisition provides a transformational opportunity for the enlarged combined business to take the lead in services to clients seeking to expand to markets around the world. The combination of TopSource and Blueback Global will create a business with 1,600 clients being served across 90+ markets around the globe.
Forward provided analytical and financial modelling support to the Topsource team during the process. The work helped to streamline the due diligence process, as well as provide the information required for TopSource, Horizon to model the transaction and support a refinance.
