The youth unemployment rate is three times that of adults, the informality rate is 1.5 times higher and 21 percent of this population does not study or work. María ...
GI Group, the Italian staffing firm, announced today that it concluded the acquisition of Grupo Norte, a Spanish ...
GI Group, the Italian staffing firm, announced today that it concluded the acquisition of Grupo Norte, a Spanish company specialising in temporary and permanent staffing and training with over 40 years’ experience in the local market.
Financial details of the transaction were not disclosed.
GI Group, which entered the Spanish market in 2008, reached this agreement as part of a phase of substantial growth in the country, where it already operates through four brands – GI Group, Wyser, GI BPO, and Tack TMI – recording turnover in 2019 of € 130 million.
The company will further enhance its presence with this acquisition and reach areas like Asturias and the Basque Country.
Founded in 1972, Grupo Norte specialises in providing a number of HR services, and today it has around 1,700 business customers and its turnover in 2019 was around €70 million. The company also has an international presence in Chile, Peru and Portugal.
Earlier this month, Gi Group announced it would enter the US market with the acquisition of CareerArc Outplacement.
Stefano Colli-Lanzi, Gi Group’s CEO, said, “This acquisition comes a few days after our launch into the US market. It allows us to improve our positioning and be more competitive in Spain, a country that is very important to us in terms of strengthening our role as a global player in the HR services sector, and is in line with our medium-term objective of reaching €6 billion in turnover by 2023. This objective remains largely unaffected by the pandemic and, today, the group is totally focused on managing the recovery phase.”
“The transaction was completed at a time when the Spanish economy is trying to recover after the economic shock caused by the pandemic; all the more reason why we believe that an employment company like Gi Group can give that recovery real impetus, responding to the needs of candidates and businesses through services like search and selection, training, outsourcing and career transition support,” Colli-Lanzi concluded.
Founded in 1998, GI Group began its internationalisation strategy in 2007. Today, it operates directly in 29 countries and in 57 others through partnerships.
Earlier this month, Gi Group reported revenue of €2.6 billion for the full year 2019, an increase of 13% when compared to the previous year.