Recruitment firm makes £113m swoop for Nasdaq-listed counterpart

Gi Group Holding, the parent company of Chesterfield-based recruitment firm Gi Group, is set to buy the European staffing business of Nasdaq-listed Kelly, its global counterpart, in a deal worth around £113m.

The deal is expected to close in the fourth quarter of of this year.

Kelly will transition its European staffing business within its international operating segment to Gi Group Holding, providing staffing services to customers in 14 countries.

The transaction marks Gi Group’s 51st acquisition since 1998. The company employees over 8,000 staff and it is active in 34 countries across Europe, APAC, the Americas.

Gi Group Holding founder and CEO Stefano Colli-Lanzi, said: “Today is an exciting step for Gi Group Holding, as we advance our ambition to grow both organically and through strategic acquisitions.

“Kelly’s European staffing business will strengthen our presence and capabilities in Europe, allowing us to scale up and draw on Kelly’s expertise in the region, while staying true to our commitment to contribute to the positive evolution of the labour market.”

Gi Group Holding was assisted by Baker McKenzie as legal advisor and Deloitte as tax and financial advisor.