Recruit Co., Ltd Announces, Acquisition of U.S. and European Staffing Services Provider Advantage Resourcing America, Inc. and Advantage Resourcing Europe B.V. »
TOKYO–(BUSINESS WIRE)–Recruit Co., Ltd. (headquarters: Chiyoda-ku, Tokyo; President & CEO: Hitoshi Kashiwaki; hereinafter “Recruit”) has acquired, from affiliates of Cerberus Capital Management, L.P., 100% ownership of U.S.-based Advantage Resourcing America, Inc. (hereinafter “ARA”) and Netherlands-based Advantage Resourcing Europe B.V. (hereinafter “ARE”） on December 30th, 2011 local time. Total transaction value was approximately $410 million.
1. Purpose of the share acquisition
Recruit group is engaged in providing staffing services in Japan through Recruit Staffing Co., Ltd. and Staff Service Holdings Co., Ltd. As we believe our strong expertise in staffing services in Japan can be applied overseas, we have been operating our U.S. staffing business through The CSI Companies, Inc. (hereinafter “CSI”), a U.S. provider of staffing solutions that we acquired in July 2010.
Because certain achievements have been attained in managing CSI, we decided to expand our staffing services operations in the U.S. and in October 2011 acquired the shares of Staffmark Holdings, Inc., which has more than 300 offices in 30 U.S. states.
In order to further accelerate and expand this effort, we are pleased to acquire ARA which operates 239 offices in 34 states in the U.S. and ARE which operates 22 offices in Europe and additional offices in Australia, Hong Kong, Singapore and Dubai. By combining our staffing services knowhow in Japan and the U.S. with the Global operational expertise and client base of ARA and ARE, we aim to provide global services spanning 5 continents including North America, South America, Europe, Asia and Australia.
Leveraging our success in Japan, we will provide a broader range of client services and employment opportunities to help create an affluent society and provide each and every person a vigorous life. We will deliver services to “meet your opportunity” tailored to each person around the world.
Read Recruit Co., Ltd Announces, Acquisition of U.S. and European Staffing Services Provider Advantage Resourcing America, Inc. and Advantage Resourcing Europe B.V. now »
By Tim Spagnola
Weekly news and industry insights delivered straight to your inbox.