An Affiliate of H.I.G. Europe Takes a Strategic Stake in 7(S) Personal GmbH
HAMBURG – October 26, 2010 – H.I.G. Europe, the European advisor to leading mid-market private equity firm H.I.G. Capital, announced today that one of its affiliates 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 € 220 million, about 170 branches and over 6.000 employees made 7(S) the sixth largest temporary staffing company in Germany.
The current management 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 and Technology, Aviation, Engineering, Office & Finance, Catering & Service, Medical and Information Technology. It 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 USD 100 million in revenues at that time to over USD 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 focus industries: Industry and Technology, Aviation, Engineering, Office & Finance, Catering & Service, Medical, 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
With 250 past transactions, H.I.G. Capital is one of the largest and most active Private Equity firms worldwide, investing exclusively in lower and mid-market companies from € 30 to € 500 million in revenues. Since 2007, H.I.G. Capital invested in a total of eight German companies. In 2010, 7(S) is H.I.G.’s second investment in Germany and its sixteenth investment worldwide.
With its 200 investment professionals, H.I.G. Capital is dedicated to using its in-house operating expertise to help talented management teams and entrepreneurs build companies of significant value. H.I.G. Capital has more than € 7 billion of equity capital under management and operates out of eight offices, including the offices of H.I.G. Europe in Hamburg, London, and Paris. H.I.G.’s investment strategy is industry-agnostic, and includes management buyouts and recapitalizations as well as growth equity investments. www.higeurope.com