By combining their respective expertise, Veriforce and Higwire have created one of the world's largest networks of subcontractors. Veriforce already has more than 3,200 recruiting clients (companies that use subcontractors; for example, an oil company that uses subcontractors in the construction industry) and 130,000 subcontractors in over 140 countries, while Highwire brings a very active community of companies operating in the most demanding sectors of the construction industry. This acquisition strengthens Veriforce's position by combining its expertise in safety and compliance with that of Highwire in the assessment of contractors. It also extends the Group's presence to new sectors such as data centers, healthcare and advanced industry. In practice, project owners will benefit from a more integrated solution for selecting and monitoring their partners, while subcontractors will enjoy greater visibility on a broader market.
"Veriforce and Highwire share the same culture and values, and this partnership creates tremendous opportunities for our teams, customers and partners. By combining Highwire's financial management and security solutions with our global reach, we are reinforcing our commitment to delivering best-in-class subcontractor and supply chain risk management solutions," said Colby Lane, CEO of Veriforce.
Based in the United States and also present in Canada, the United Kingdom, South Africa and Australia, Veriforce has established itself as a major player in worksite safety and subcontractor compliance on a global scale. For example, a major energy group has reduced its incident rate by 28% and saved $6.8 million a year thanks to its continuous supplier verification solution.
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