Gi Group Holding, the parent company of Gi Group and Grafton Recruitment based in Chesterfield, has made a significant move to expand its reach in the staffing industry. The company has entered into a definitive agreement to acquire the European Staffing business of Kelly, a renowned global talent solutions provider. This strategic acquisition is valued at up to €130 million, with €100 million in cash consideration and an additional earnout potential of up to €30 million.
The transaction is expected to be finalized in the first quarter of 2024, subject to obtaining necessary regulatory approvals and meeting customary closing conditions. Upon completion, Kelly’s European staffing business will be seamlessly integrated into Gi Group Holding’s operations, enabling them to offer comprehensive staffing services to clients across 14 countries within Europe.
This acquisition holds great significance for Gi Group Holding, as it marks their 51st successful acquisition since their establishment in 1998. It demonstrates their commitment to both organic growth and strategic expansion through targeted acquisitions.
Expressing his enthusiasm about this milestone, Stefano Colli-Lanzi, Founder and CEO of Gi Group Holding, said, “Today is an exciting step for Gi Group Holding as we pursue our ambition to grow both organically and through strategic acquisitions. With the addition of Kelly’s European staffing business, we will enhance our presence and capabilities in Europe, capitalizing on Kelly’s expertise in the region. This aligns perfectly with our commitment to contribute positively to the evolution of the labor market.”
By incorporating Kelly’s European staffing business into their operations, Gi Group Holding is poised to strengthen its market position and leverage synergies for further growth and development. This strategic move underscores their proactive approach to expand their business footprint and deliver greater value to their clients and stakeholders alike.