EUROPE — GI GROUP ACQUIRES GERMAN STAFFING FIRM ONTIME GROUP

Gi Group, the fourth-largest staffing firm in Italy, announced that it has acquired OnTime Group.

Financial details of the transaction were not disclosed.

Founded in 2003, OnTime Group operates in the temporary and permanent staffing sector and in the national and international mobility sector (via the House of Jobs brand). OnTime Group has 23 branches in Germany and more than 100 members of staff, and in 2018, its annual sales were €71.5 million.

With this acquisition, Gi Group’s presence in Germany increases to over 60 branches, with an overall turnover of more than €150 million and more than 4,000 FTE (Full Time Equivalent) work placements.

According to Matt Norton, Senior Research Analyst at Staffing industry Analysts, ‘the acquisition would see GI Group become one of Germany’s largest 20 recruitment agencies in terms of revenue.’

Stefano Colli-Lanzi, Gi Group’s CEO, commented, “OnTime Group is perfectly suited to Gi Group Germany’s business. OnTime’s territorial coverage does not overlap Gi Group’s current coverage and allows us to have extensive coverage all over Germany. This way we can better meet the needs of businesses and candidates. At service level, this transaction also allows us to augment our value proposition not only with OnTime’s temporary and permanent staffing service, but also with its national and international mobility service, which may become an asset not only for the local market, but for the entire group globally.”

With the transaction, Germany becomes Gi Group’s fourth largest country in terms of turnover after Italy, United Kingdom and China.

“With the acquisition of OnTime Group we are greatly increasing our presence in the German market, which remains a strategic area in terms of size and the presence of top national and international market players,” Colli-Lanzi said. “This transaction is also in line with our medium-term global objective, that is to become a €6 billion global player within the next five years.”

Founded in 1998, Gi Group started its internationalisation process in 2007 with its first foreign acquisition in Germany. Today, the company is present in 28 countries with its own offices and in 57 countries via partnerships.