Our client is CVC and its portfolio company, twoday, which it recently acquired in a carve-out. The portfolio company has over 2,000 highly-skilled employees. The challenge was to onboard a broad group of employees into an employee ownership plan offered by the sponsor.
Through Dealstack, our clients implemented the employee ownership plan for employees, which enabled 40% of employees to invest. The full implementation of the programme was handled through Dealstack, including the necessary collection and verification of data and KYC information about individual investors, regulatory compliance documents and contract execution. The Dealstack process was set up to align fully with all the CVC’s existing requirements as to process and documentation.
Dealstack enabled the implementation of a broad employee ownership plan. It saved CVC and twoday management many hours, while improving security and transparency in the process. Going forward, the employee ownership plan will be fully managed from within Dealstack, allowing for easy handling of joiners and leavers and other changes, including a future exit. Dealstack keeps a perfect record of current and future participants throughout the lifecycle of the employee ownership, including all the associated documentation.