ManpowerGroup to Acquire Norway's Largest Contingent Staffing Specialist within Building and Construction Sector
by PR Newswire
OSLO, Norway, Feb. 25, 2013 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions, announced today it has entered into an agreement to acquire Workshop Holding AS, which, in turn, owns Workshop Bemanning og Kompetanse AS, Norway's largest recruitment specialist in the construction sector. Workshop Holding was formerly controlled by private equity company Borea Opportunity.
With this acquisition, Workshop Bemanning will be incorporated into ManpowerGroup Norway's Manpower brand, further elevating Manpower's position as the leader in contingent and permanent staffing, providing organizations of all sizes with a continuum of staffing solutions to enhance business agility and competitiveness. The combined entities increase the number of Manpower associates on assignment daily in Norway to approximately 7,000.
"This acquisition will further strengthen our company's Manpower staffing business, and therefore its ability to provide the agility and flexibility required to drive business success for our clients," said Hans Leentjes, ManpowerGroup President of Northern Europe. "This move also represents an excellent cultural fit, as Workshop Bemanning shares ManpowerGroup's philosophy of providing an outstanding candidate experience to ensure we attract and retain the best talent available."
"Companies in the Norwegian construction industry sector are increasingly seeking flexible recruitment services, with national investments in infrastructure development and an ever-increasing need to refurbish public buildings," said Maalfrid Brath, ManpowerGroup Norway Managing Director. "This acquisition will allow ManpowerGroup Norway to increase its market share within this industry sector, and is part of our long-term strategy to dominate this market."
"We are very satisfied with our investments in this segment and in the development of Workshop. We are delighted that such a major global organization such as ManpowerGroup has seen the potential of our company and wants to take it a step further," said Dag Sorsdahl, Chairman of the Board for Workshop and a partner in Borea Opportunity.
The acquisition agreement is pending approval from the Norwegian Competition Authority and is projected to be completed in April of this year.
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