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Gi Group, the largest Italian-owned staffing agency, has acquired independent UK-based recruitment company right4staff.
In 2010, Gi Group generated revenues in excess of 800 million Euro. The company has more than 350 branches worldwide, about 2,000 employees and, with this latest acquisition, now operates in 12 countries: Italy, UK, Germany, France, Spain, Poland, Romania, China, Hong Kong, India, Brazil and Argentina.
Gi Group has recently become a Multiregional Corporate Member of the International Confederation of Private Employment Agencies (CIETT), confirming its credentials as an international staffing firm.
right4staff operates across the UK. In 2010 the company generated revenues in excess of 160 million Pounds. In a typical week, right4staff's 270 managers and consultants will provide some 550 clients (large and small) with around 12,000 temporary workers. In 2010, the company provided more than 14 million hours of temporary labour.
Gi Founder, Majority Shareholder and CEO, Stefano Colli-Lanzi, said "entering the UK market is a key milestone in our strategic growth plans as we aim to become a global reference point for services dedicated to the development of the international labour market."
"The UK is one of the premier labour markets in the world and in 2010 the total revenue for the temporary staffing and permanent placement sectors totalled around 20 billion Pounds (almost 23 billion Euro) and 2011 forecasts predict these figures will grow to around 25 billion Pounds (29 billion Euro). These are significant numbers if compared to the Italian market, with its 2010 total turnover of approximately 5.5 billion Euro."
"We are therefore talking about a highly relevant market which is extremely dynamic and competitive. As a result of the right4staff acquisition we intend to play a leading role in this market. Over the next few years our goals are to further expand our presence in the UK, capitalising on the success right4staff has enjoyed over the last few years."
"We are confident that the skills and expertise acquired with the company will help the whole group to speed up the journey we started some years ago and support us in our goal to become a global player in the labour market."
Jess Watts, Chief Executive of right4staff, added "right4staff has always prided itself on being a different kind of agency. This has been demonstrated by our exceptional levels of growth since the beginning of the economic recovery which have seen group sales rise from 112 million Pounds in 2009 to a forecast of more than 180 million Pounds in 2011."
"These impressive figures highlight the underlying quality of the business and its absolute commitment to its customers, meaning that the agency has not just ridden out the recession but thrived during this challenging time."
"As part of Gi Group we can now look forward to building our UK presence and we, our staff and our customers can reap the benefits of being part of a highly successful international organisation which is committed to global excellence in this market. We could not be more pleased to be joining Gi Group."
Deal metrics were not made available.