Gi Group Holding today announced the acquisition of recruitment firm CVO Recruitment and Simplika, an executive search, recruitment, and staffing company, with a presence in Lithuania, Estonia and Latvia.

CVO Recruitment and Simplika was founded in the year 2001 in Estonia. Its companies collectively generate revenues of €16 million annually by partnering with over 450 clients through handling an average of over 850 recruitment projects per year and providing temporary employment to over 500 workers on a daily basis.

The transaction marks Gi Group Holding’s market entry into Estonia and Latvia.

CVO Recruitment and Simplika’s two brands are: CVO Recruitment, which recruits middle and top-level specialists as well as top managers and Simplika, which focuses on personnel leasing and staffing plus recruitment of junior and middle level specialists; complemented by related services such as market consultation, onboarding and outplacement. Collectively, both business lines specialise in recruitment in the fields of technology (including IT), finance and analytics, sales & marketing, management, and more.

The recruitment group has a total of 35 executives which will complement the Gi Group Holding Lithuania executives that currently focus on recruitment and HR services for Temporary, Permanent, and BPO assignments.

Stefano Colli-Lanzi, Gi Group Holding Founder and CEO, said, “The acquisition of CVO Recruitment and Simplika marks a strategically important move within Gi Group Holding’s growth journey. By joining forces with this respected group of companies, the Holding will enhance its presence in the Baltic region, further cementing our footprint in the European continent.”

“This acquisition will enable us to further enhance our offerings and uncover new opportunities that ultimately add value to an ever-evolving labour market,” Colli-Lanzi added.

Norrie Sinclair, Founder, CVO Recruitment and Simplika, said, “With dedicated teams of consultants and support staff across the Baltic region, led for many years by outstanding professionals in their field, our managing directors, and shareholders, Julija Lobanovska (Latvia), Triin Raamat (Estonia) and Valerija Buzeniene (Lithuania) the company has successfully achieved its vision of making a positive and concrete impact on both our client and candidates lives.”

Sinclair added, “This 21+ year journey has seen our group of companies evolve and effectively become the leading HR & Business Partner in the Baltic Region, a remarkable achievement. I look forward to further successes that will be enabled by becoming part one of the world’s most esteemed players in the global HR industry.”

On October 2022, Gi Group announced that it concluded the acquisition of Encore Personnel, a UK-based specialised recruitment firm.