HIG sells 7S to Manpower for €136.5m

Additional payments based on the company's results in the last financial year will add to the initial purchasing price.

The acquisition is set to make Manpower the third largest staffing firm in Germany, after Adecco and Randstad. 7S will add to the 160 locations that Manpower already operates in Germany.

Previous funding
HIG acquired a minority stake in 7S in 2010, when it provided the company with growth capital funding. 7S has since completed 10 add-on acquisitions.

Company
Founded in the 1970s and based in Jena, 7S is a personnel service. It focuses on the healthcare, catering, aviation, IT, engineering, industrial, technology and office management sectors. The company employs 8,000 people and provides services to around 200 clients.

7S generated €310m in revenues in 2014.

People
Herwarth Brune is CEO of Manpower in Germany. Christian Speidel is CEO of 7S and will leave the company in late 2016.

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