Staffing agency Adecco is set to acquire Spanish HR services company Humangroup.
Global HR Leader Adecco Acquires Spanish HR Services Company Humangroup
In a significant move, the global HR services powerhouse, Adecco Group, has announced the acquisition of Spanish HR services company, Humangroup. The deal, valued at EUR 57 million plus EUR 9 million in debt assumed, is expected to further solidify Adecco's position as the leading HR services firm in Spain.
Humangroup, with its network of approximately 17,500 associates, serves over 10,000 clients daily through 118 branches in Spain and Portugal. The company offers staffing services under the AltaGestión brand and outsourcing solutions under the Eurocen, Extel, and Eurovendex brands.
Eurocen, a part of Humangroup, provides outsourcing services in logistics and manufacturing, while Extel-crm offers call center outsourcing services. Eurovendex, another division of Humangroup, offers sales and marketing outsourcing services.
Adecco Group, a Fortune Global 500 company, boasts a network of 30,000 employees and over 6,000 offices in 70 territories worldwide. The company delivers an unparalleled range of flexible staffing and career resources to corporate clients and qualified associates. It is registered in Switzerland and listed on SWX Swiss Exchange, NYSE, and Euronext Paris.
The acquisition combines the strengths of both companies, with Adecco Group and Humangroup generating sales of more than EUR 900 million in 2004 and having approximately 1,900 employees and 428 branches. The deal is expected to be accretive to EPS as of 2006, subject to approval by the antitrust authorities.
For media inquiries, Humangroup's Spain press office can be contacted at Sara Baeza at +34 91 432 56 30. The corporate press office can be reached at [email protected] or Axel J. Schafmeister at +41 1 878 8832. Pictures of Humangroup's offices can be downloaded from the Press Office photo library at www.adecco.com.
Humangroup has been operating in the Spanish HR services market for 20 years, and with this acquisition, Adecco Group is set to expand its offerings in the region.
This acquisition comes at a time when the HR services industry is witnessing significant changes, with mergers and acquisitions becoming increasingly common. In 2005, Telefónica acquired 51 percent of the Czech telecom operator Český Telecom for 2.75 billion euros and absorbed its Internet subsidiary Terra-Lycos, while the British telecom company O2 was acquired for about 26 billion euros.
As the HR services landscape continues to evolve, Adecco Group's acquisition of Humangroup is a strategic move that underscores the company's commitment to providing comprehensive HR solutions to its clients.
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