Staffing company Adecco announces the purchase of Drake Beam Morin, Inc.
The Adecco Group, a global leader in Human Resource services based in Zurich, Switzerland, has announced the acquisition of Drake Beam Morin, Inc. This move positions the group as a leading player in the UK, Canada, and Brazil, and considerably expands its global footprint beyond its main markets.
The acquisition, valued at an enterprise value of EUR 149 million, adds a leading provider in the career transition and talent development services sector to Adecco's portfolio. Drake Beam Morin generated revenues of EUR 84 million in 2010.
The combined businesses will create the world's leading career transition and talent development services provider. This merger is expected to be immediately EPS accretive in year one and EVA-enhancing after the first year post the close of the transaction. Synergies from the combination are expected to amount to approximately EUR 10 million.
The acquisition enhances Adecco's geographic reach, particularly in regions where Drake Beam Morin had a strong presence, such as Asia Pacific and emerging markets. The combined entity leverages synergies in service offerings, technology platforms, and client relationships, creating a broader, more integrated portfolio of talent management and outplacement solutions.
Adecco offers a wide variety of services, connecting over 700,000 associates with well over 100,000 clients every day. The group's services fall into the broad categories of temporary staffing, permanent placement, outsourcing, consulting, and outplacement.
For more detailed financial figures, synergy analyses, or exact geographic expansion metrics, accessing specialized financial reports or corporate press releases from around 2011 would be necessary.
The acquisition is subject to various risks and uncertainties, including global GDP trends, changes in regulation of temporary work, intense competition, integration of acquired companies, changes in the ability to attract and retain personnel or clients, and potential IT disruptions. The forward-looking statements in the release are not guarantees of future performance, and actual results could differ materially from the current expectations.
For further information, please contact:
Corporate Investor Relations: [email protected] +41 (0) 44 878 89 89
Corporate Press Office: [email protected] +41 (0) 44 878 87 87
The Adecco Group has over 32,000 FTE employees and more than 5,500 branches, in over 60 countries and territories around the world. The group's Corporate Investor Relations can be contacted at the aforementioned email and phone number.
- The acquisition of Drake Beam Morin, Inc. by The Adecco Group expands their portfolio to include a leading provider in the career transition and talent development services sector.
- The merger between Adecco and Drake Beam Morin creates the world's leading career transition and talent development services provider.
- The combined entity leverages synergies in service offerings, technology platforms, and client relationships, creating a broader, more integrated portfolio of talent management and outplacement solutions.
- In addition to career transition and talent development services, Adecco offers services in temporary staffing, permanent placement, outsourcing, consulting, and outplacement, connecting over 700,000 associates with well over 100,000 clients every day.
