The parent company of Chesterfield-based Gi Group and Grafton Recruitment, Gi Group Holding, has entered into a definitive agreement to acquire the European Staffing business of Kelly, a global specialty talent solutions provider, for cash consideration of up to €130 million.
The transaction – with cash consideration of €100 million and an additional earnout potential of up to €30 million – is expected to close in the first quarter of 2024, subject to receipt of required regulatory approvals and other customary closing conditions.
Under the terms of the agreement, 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 the 51st acquisition in Gi Group Holding’s history since 1998.
Stefano Colli-Lanzi, Gi Group Holding founder & CEO, 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 labor market.”
