Recruitment firm Adecco to purchase Spanish human resources services company HumanGroup
In a move to strengthen its position as a global leader in HR services, the Adecco Group, a Fortune Global 500 company, has announced the acquisition of Spanish HR services company Humangroup. The acquisition, valued at EUR 57 million plus EUR 9 million in debt assumed, is expected to further expand Adecco's offering as the leading HR services firm in Spain.
The acquisition of 100% of Humangroup, which operates under four main brands - Alta Gestión S.A. ETT (staffing services), Eurocen (outsourcing services in logistics and manufacturing), Eurovendex (sales and marketing outsourcing), and Extel-crm (call center outsourcing) - will connect approximately 17,500 associates with over 10,000 clients daily.
Humangroup, which has been operating in the Spanish HR services market for 20 years, boasts 118 branches in Spain and Portugal. The acquisition is expected to be accretive to EPS as of 2006, subject to approval by the antitrust authorities.
Adecco S.A., registered in Switzerland and listed on SWX Swiss Exchange, New York Stock Exchange, and Euronext Paris - Premier Marché, aims to leverage Humangroup's expertise and extensive network to deliver an unparalleled range of flexible staffing and career resources to its corporate clients and qualified associates.
With this acquisition, Adecco and Humangroup together generated sales of more than EUR 900 million in 2004. The combined entity in Spain and Portugal, with approximately 1,900 employees and 428 branches, is poised to offer a comprehensive suite of HR services, potentially enhancing its competitive positioning in the market.
For more detailed information about the acquisition, its impact, or to arrange interviews, please contact the corporate press office or the Spain press office provided.
- The acquisition of Humangroup, a 20-year veteran in the Spanish HR services market, will bolster Adecco's global leadership in HR services.
- The combined expertise of Adecco and Humangroup is expected to deliver a wide range of flexible staffing and career transition resources to corporate clients and qualified associates.
- This move will expand Adecco's offerings in Spain, positioning the company to offer a comprehensive suite of HR services, including temporary staffing, outsourcing, recruitment, and industry-specific finance and business solutions.
- The acquisition, which includes four main brands such as ETT, Eurocen, Eurovendex, and Extel-crm, is expected to connect approximately 17,500 associates with over 10,000 clients daily.