ManpowerGroup Expands Capabilities and Acquires 7S Group in Germany

ManpowerGroup MAN, world leader in innovative workforce solutions, has today announced it will acquire the 7S Group in Germany. With this transaction ManpowerGroup enhances its workforce solutions capabilities in the German market, further broadening its range of solutions in specialist sectors, consulting and outsourcing services. The acquisition, which is expected to close later this year, has a purchase price of EUR136.5 million plus an earnout opportunity based upon 2015 results from operations. Based primarily in Germany, the 7S Group is a highly specialized provider of human resource services focusing on a number of core sectors including skilled trades, engineering and IT. Its expertise is a valuable addition to ManpowerGroup, particularly as demand grows for specialized workforce solutions. "This is an important step for ManpowerGroup in Germany," said Jonas Prising, ManpowerGroup CEO. "It complements our organic growth in key strategic business lines and these additional capabilities will help us deliver our clients an even more robust set of offerings across specialist industries and skills verticals. We're excited about expanding our portfolio and footprint in this important market." Herwarth Brune, CEO of ManpowerGroup Germany, added: "With this acquisition, we achieve a leading positon in the market, strengthening our capabilities and spanning more sectors including aviation, engineering and manufacturing. Our shared entrepreneurial and client-centered approach means our corporate values are closely aligned and we'll be fast to integrate." 7S Group CEO Dr. Christian Speidel commented: "As part of ManpowerGroup's global network, we will be able to better fulfill the needs of our clients. We will be swift to leverage our joint capabilities through our passion for innovation." ManpowerGroup companies Manpower, Experis, ManpowerGroup Solutions and Right Management operate in 160 locations across Germany.