Veriforce Expands Its Mission with Highwire Acquisition
Veriforce Expands Its Mission with Highwire Acquisition
The combined expertise delivers stronger safety, compliance, and financial risk management for construction projects worldwide
Veriforce, a leader in contractor management and supply chain risk management, has recently announced its acquisition of Highwire. This acquisition is significant in the realm of contractor risk solutions, particularly for construction and capital projects. By bringing Highwire into the fold, Veriforce is poised to enhance its offerings and extend its reach in these vital sectors.
Highwire has established itself as a proficient provider of prequalification and contractor risk management solutions. The merger of Highwire's specialized focus with Veriforce's resources amplifies their collective capacity to support clients involved in diverse environments, including data centers, life sciences, advanced manufacturing, and healthcare. This strategic combination allows both companies to serve an extensive and sophisticated contractor network.
The synergy between Veriforce and Highwire is impressive. Veriforce already supports over 3,200 clients and 130,000 contractors worldwide, while Highwire contributes a robust network that specializes in complex capital projects—a combination that significantly broadens Veriforce’s contractor base. Clients will now have broader access to a network of vetted contractors across an even wider array of industries. Better visibility for contractors seeking employment opportunities across the globe is also a promising outcome of this partnership.
According to Colby Lane, CEO of Veriforce, this partnership signals the beginning of exciting opportunities for clients and contractors alike. He stated, "Veriforce and Highwire share a strong culture and common values. By merging Highwire's exceptional financial risk and safety solutions with Veriforce's extensive scale and expertise, we create a premier solution in contractor management and supply chain risk management. Through our global marketing resources and dedicated teams, we aim to accelerate Highwire's growth into new markets while further enhancing our valuable network."
Highwire CEO Kyra van den Bosch echoed these sentiments, highlighting how the acquisition would bolster Highwire's ongoing initiatives within the construction and capital project sectors. She expressed confidence in Highwire's capability to enrich Veriforce's already impressive suite of risk management tools. This acquisition will allow Highwire’s clients to continue utilizing their trusted services while also unlocking new opportunities through Veriforce's global connections.
This acquisition reinforces Veriforce's commitment to offering top-tier contractor management solutions. The merger not only combines expertise and innovative offerings but also prepares the expanded organization to enhance safety, efficiency, and connections for clients and contractors alike. The focus will remain on driving innovation and growth throughout the construction and capital projects sectors.
In terms of support and expertise during this acquisition, Harris Williams acted as the exclusive financial advisor to Highwire, while Choate Hall & Stewart provided legal counsel to Highwire. Veriforce received legal expertise from Kirkland & Ellis during this acquisition phase.
Veriforce is revered for its leadership in contractor management, ensuring that companies foster safe and qualified workforces. With an impressive network covering 3,200 hiring companies across over 140 countries, Veriforce plays a pivotal role in connecting organizations with reliable third-party labor that adheres to safety and compliance standards. Additionally, they benefit from a thriving community of over 7,000 authorized instructors and evaluators dedicated to supporting workforce readiness.
As a trusted partner for organizations focused on ensuring workforce safety and readiness, Veriforce operates comprehensively, with offices located in multiple countries including the U.S., Canada, and Australia. To learn more, visit their official website.
About Highwire
Highwire was established at Harvard University with a mission to enhance safety for students, staff, and contractors while concurrently lowering insurance costs. The company became independent in 2008, and today, it serves various esteemed clients in the construction sector, delivering Contractor Success. Highwire continues to thrive with its headquarters in Boston, Massachusetts, and is proud to be a U.S.-made solution.
Media contact:
Claire Griffin, Veriforce
403-807-3613
Frequently Asked Questions
What is the main focus of Veriforce's acquisition of Highwire?
The acquisition focuses on enhancing contractor risk management solutions, specifically for the construction and capital projects sectors.
How will this acquisition benefit contractors?
Contractors will gain increased visibility to hiring organizations globally and access to a wider network of vetted contractors across various industries.
Who are the key executives mentioned in the acquisition?
Colby Lane, CEO of Veriforce, and Kyra van den Bosch, CEO of Highwire, are the prominent executives involved in the acquisition.
How does Highwire improve Veriforce's offerings?
Highwire's advanced assessments and financial risk management solutions complement Veriforce’s extensive expertise and existing offerings.
Where is Highwire headquartered?
Highwire is headquartered in Boston, Massachusetts, and aims to deliver Contractor Success to its esteemed clients.
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