Milwaukee-based ManpowerGroup has announced it plans to acquire German human resource services provider 7S Group for $154.1 million.
The transaction is expected to close later in the year. The purchase price could also include an earnout opportunity based upon 2015 results from operations.
The 7S Group focuses on the skilled trades, engineering and IT sectors. ManpowerGroup will integrate that expertise into its offerings to meet customers’ requests for niche workforce solutions.
“This is an important step for ManpowerGroup in Germany,” said Jonas Prising, chief executive officer of ManpowerGroup. “It complements our organic growth in key strategic business lines and these additional capabilities will help us deliver our clients an even more robust set of offerings across specialist industries and skills verticals. We’re excited about expanding our portfolio and footprint in this important market.”
“With this acquisition, we achieve a leading positon in the market, strengthening our capabilities and spanning more sectors including aviation, engineering and manufacturing,” said Herwarth Brune, CEO of ManpowerGroup Germany. “Our shared entrepreneurial and client-centered approach means our corporate values are closely aligned and we’ll be fast to integrate.”
“As part of ManpowerGroup’s global network, we will be able to better fulfill the needs of our clients,” said Dr. Christian Speidel, CEO of 7S Group. “We will be swift to leverage our joint capabilities through our passion for innovation.”
ManpowerGroup this month also acquired the Australian and Singapore arm of finance and technology-focused professional services and recruitment firm Greythorn.
