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Netherlands - USG People acquires Control Finance B.V.

03 April 2012

USG People (USG:AEX), the Netherlands-based multi-brand staffing, secondment and HR services group, said on Monday that it acquired 100% of the shares in the Dutch staffing firm, Control.

Established in 1998, Control provides highly qualified interim professionals in the specialist areas of accounting, financial management and controlling. Control's clients are organisations in the Dutch top 500 companies. Control is active throughout the Netherlands and is headquartered in Utrecht.

Hubert Vanhoe, COO Professional Solutions & Specialist Staffing said, "This acquisition is in line with our recently announced strategy to substantially expand the offering within USG Professionals. We are convinced that under the wings of USG People the existing strong management team will be able to build on Control's success even more. We see Control as an exceptionally stable and solid platform for further shaping and growing our activities in the financial talent market segment. It therefore gives us great pleasure to be able to announce this acquisition. Control closed 2011 with revenue in excess of €15 million and a strong operating profit margin."

No metrics are available but USG announced that the acquisition was paid for in cash and financed from their own resources. The news comes soon after the analysts meeting where USG announced the firm’s turnover had, so far, declined in 2012.

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