H.I.G. Capital said Wednesday that an affiliate has made a “signficant” investment in 7(S) Personal GmbH, a temporary staffing firm in Germany. Financial terms weren’t announced. H.I.G. is a PE firm.
H.I.G. Capital, LLC, a leading global private equity investment firm, today announced that an affiliate has made a significant investment in 7(S) Personal GmbH (“7(S)”), a leading German temporary staffing agency.
7(S) has been active in the personnel and workforce solutions services market for over 30 years, offering its customers comprehensive solutions in temporary staffing, business support services, and career services. In 2009, revenues of more than $300 million, about 170 branches and over 6,000 employees made 7(S) the sixth largest temporary staffing company in Germany.
The current management team led by the managing directors Dr. Christian Speidel, CEO, and Christian Peters, CFO, remain significant shareholders and will continue to lead the company’s successful strategy to benefit from the current market upturn, the fundamental trend of increasing flexibility in the workplace, and an increasing scarcity of skilled labor. 7(S)’s focus will be on reinforcing the qualified and highly qualified temporary staffing services in its seven core segments: Industry & Technology, Aviation, Engineering, Office & Finance, Catering & Service, Medical, and Information Technology. The company will continue its successful “buy and build” strategy as well as its development into a fully integrated HR-services house.
“H.I.G. Capital is a highly experienced partner for growth,” comments Dr. Christian Speidel. “Together, we will continue to expand the service range and specialization of 7(S), enabling 7(S) to offer an even more comprehensive set of services to its customers.”
H.I.G. Capital is highly experienced in the personnel services sector, having made a number of successful investments in the industry, including Insight Global Inc., which it acquired in 2007, and grew from $100 million in revenues at that time to over $350 million in 2010. According to Wolfgang Biedermann, Managing Director at H.I.G. European Capital Partners GmbH, “The capital strength and experience of H.I.G. will enable 7(S) to drive the consolidation process in the European market and to strengthen its leading position as an independent provider of qualified personnel and workforce solution services.” Jörn-Marc Vogler, Principal at H.I.G. European Capital Partners GmbH, added “H.I.G. Europe is pleased to invest in 7(S), a leading personnel services provider, led by an excellent management team. During the recent financial crisis, 7(S) accomplished to improve its market positioning and gain additional market share. Currently, 7(S) expands dynamically, and we are glad to support the growth plan of the management team in the years to come.”
7(S) Group is an independent specialist for temporary staffing, business support services and career services. 7(S) concentrates on temporary staffing of qualified personnel in seven focused industries: Industry & Technology, Aviation, Engineering, Office & Finance, Catering & Service, Medical, and Information Technology. According to statistics by market research firm Lünendonk, 7(S) was Germany’s sixth largest temporary staffing services firm in 2009. www.7s-gruppe.de
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.