Gi Group Holding, a global staffing and recruitment firm, has entered into a definitive agreement to acquire the European Staffing business of Kelly, a global specialty talent solutions provider. The transaction – with cash consideration of €100 million and an additional earnout potential of up to €30 million – is expected to be finalised in the first quarter of 2024, after receiving necessary approvals from regulators and typical closing requirements.
This agreement comes as the company plans to grow in the staffing and recruitment field. The company has a complete range of solutions from seven different brands in over 30 countries around the world. This is part of its ongoing growth journey, and this is its 51st acquisition since 1998.
According to the agreement, Kelly will move its European staffing business from its international operating segment to Gi Group Holding. This means that Kelly will now offer staffing services to customers in 14 different countries through Gi Group Holding.
This recent acquisition will help the company strengthen its presence and capabilities in the staffing space across Europe. “It will allow us to scale up and draw on Kelly’s expertise in the region, while staying true to our commitment to contribute to the positive evolution of the labour market,” added Stefano Colli-Lanzi, founder & CEO, Gi Group Holding.
For a smooth process, the company’s been legally assisted by Baker McKenzie and receiving financial and tax guidance from Deloitte.
The firm offers a comprehensive range of tailored solutions through seven complementary brands across more than 30 countries. With a history of growth and acquisitions since 1998, it’s a prominent player in the HR ecosystem.