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USG People to buy German staffing firm

February 25 2008

Netherlands-based staffing firm USG People said it struck a deal to buy Allgeier DL, a German staffing firm. Allgeier is a subsidiary of Allgeier Holding AG and is based in Munich, Germany. USG will pay approximately euro175 million (US$257.3 million) for the company. The deal is subject to approval from German regulators.

Allgeier DL has approximately 6,000 clients and had revenue of more than euro200 million (US$294.6 million) in 2007. Its present management, Roland Brohm and Stephan Bülow, will remain with the company.

"The acquisition of Allgeier DL fits in well with the strategy of USG People," said USG CEO Ron Icke. "On the one hand it strengthens our position substantially in the strongly growing German market for temporary staff while, on the other, it benefits our spread of activities outside the Benelux (Belgium, Netherlands, and Luxembourg)."

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