Daily News

View All News

Spain – Manpower to acquire Ciber Spain

16 February 2017

ManpowerGroup (NYSE: MAN) agreed to purchase the Spanish business of IT solutions and staffing provider Ciber Inc. (NYSE: CBR). It is the most recent of several sales of Ciber’s European assets.

According to a Ciber Inc. filing with the US Securities and Exchange Commission, Ciber Inc. subsidiary Consultant in Business Engineering Research S.L.U. (“Ciber Spain”) and ManpowerGroup subsidiary Experis ManpowerGroup S.L.U. signed a purchase agreement for the sale of certain assets and liabilities of Ciber Spain. The terms of the agreement include an approximately $7.0 million cash purchase price with an additional $1.0 million earnout possible, depending on the performance of a certain Ciber Spain contract.

The acquisition strengthens ManpowerGroup Spain's IT staffing solutions capacity and it’s Experis brand which operates in the engineering, information technology and finance verticals. The transaction is expected to close by the end of February when Ciber's business and employees will transfer to ManpowerGroup.

ManpowerGroup (NYSE: MAN) in August agreed to acquire Ciber’s Norwegian business for $7.0 million; that deal followed ManpowerGroup’s acquisition of Ciber Netherlands in June for $25 million.

Ciber earlier this month agreed to sell its business in Germany and Denmark to Munich-based Allgeier SE. And in September, it agreed to sell its business in Sweden to Bouvet Stockholm AB, a service provider of information technology, digital communication and enterprise management.

Ciber anticipates using the proceeds from the Ciber Spain sale and an escrow loan for working capital to reduce its borrowings under its ABL Facility with Wells Fargo Bank N.A by approximately $3.2 million. Completion of the transaction is subject to customary closing conditions.

Ciber Spain will continue to be involved in the full transition of the business to Experis after the closing of the transaction, which is subject to the satisfaction of closing conditions.

“The sale of Ciber Spain reflects continued execution against our plans to simplify our geographic footprint and focus our portfolio of offerings,” Ciber President and CEO Michael Boustridge, said. “As a strategic buyer with local operations, we believe Manpower/Experis will provide a seamless transition and great continuity and service for our Spanish customers and employees.”

Launched in 1988, ManpowerGroup Spain provides services under five brands: Manpower, Experis, ManpowerGroup Solutions, Futurskill and Right Management. It operates 120 locations and counts more than 600 employees.

“As our clients continue to invest in and upgrade their technology platforms, this acquisition will help us meet the fast-growing demand for IT support and provide the solutions they need,”  Raul Grijalba, executive president, ManpowerGroup Spain, said. “Ciber Spain’s deep industry knowledge and expertise are a natural fit within the ManpowerGroup family, and will help us continue to shift our business mix towards higher-value services for both clients and candidates.”