HeadFirst Source Group, the Dutch staffing firm, reported turnover for the first half of 2018. Turnover rose by 12.1% to €273.1 million compared to the same period in 2017.

The group, which was acquired by Beryllium BV, a Dutch acquisition holding company, said the increase in turnover is due to the successful recruitment of new clients, and the mediation of more professionals into contracts with existing clients.

HeadFirst also announced that operating profit rose slightly despite the dampening effect of one-off merger and integration costs. Operating EBITDA increased slightly from €3 million to €3.2 million.

During the period, the group announced that it would take over 100% of the shares of Myler, a company based in the Netherlands that specialises in matchmaking, contract management and global sourcing, mainly in the IT sector.

"Beryllium offers us the opportunity to continue our growth strategy and further develop our ambition to become a leading player in the flex market,” Gert-Jan Schellingerhout, CEO of the HeadFirst Source Group, said. “The acquisition of Myler, with its unique services, is the next step in this.”

HeadFirst also announced that it acquired Staffing Management Services (Staffing MS), a Managed Service Provider (MSP). The price of the transaction was reported as being more than €100 million.

Staffing MS is expected to become part of HeadFirst with effect from 1 November 2018. Staffing MS, founded in 2008, will become an independent business unit within the group and will retain its own identity.

With the acquisition, the group expands the diversity of services related to the hiring of external professionals: matchmaking, contracting, payrolling, global sourcing and MSP services.

"As a Managed Service Provider, independence is the most important core value. A good MSP is completely vendor neutral. We guarantee this by allowing Staffing MS to remain fully independent as an organisation,” Schellingerhout said.

“We also add extra strength to our international ambitions, because MSP services also have a growing popularity outside the Benelux - particularly in multinational companies,” Schellingerhout said. “We see a great deal of future in this form of service, whereby (part of) the hiring process of clients is taken over, both in the Benelux and abroad. "

Schellingerhout, also commented on the group’s results, "We have broken the threshold of 5,000 employed professionals in August, which is unique in our existence. With our rich network of independent professionals and niche suppliers, we can respond well to the hiring needs of clients, especially in this time of scarcity in the flexible labor market.”

Looking ahead, HeadFirst said that Myler will contribute to the results in the fourth quarter. As a result, the turnover forecast for 2018 was increased to €580 million euros and the expected operating EBITDA is €8.5 million. The group added that it is well on track to meet these objectives.