IT recruitment and contracting firm Talent International has acquired ManpowerGroup’s New Zealand IT business, Experis.
Talent and ManpowerGroup said they have created a structure and working relationship to ensure an easy transition for Experis’ people, contractors and customers.
“Talent has an exceptional reputation, and their genuine care for people, customers and contractors was critical for us in making this decision," ManpowerGroup’s ANZ managing director Richard Fischer said.
Talent's APAC CEO, Mark Nielsen, said the deal was a successful outcome for both parties.
“It was a pleasure working with Richard Fischer and the team to create an outcome that benefits Experis’ contractors, customers and the team. We are working closely to ensure the transition is seamless as possible," he said.
Talent has been growing fast in New Zealand, reporting revenue to the end of 1 July, 2018 at $28 million, up from a reported $19.1 million in 2017.
The local arm of the company recorded a profit of $392,256, from a loss of $282,551 in the previous year.
Manpower Services NZ, the local ManpowerGroup subsidiary, recorded revenue of $47.2 million for the year ended 31 December 2018, down from $58.8 million in 2017.
The company, which operates broadly outside of the IT space, reported net losses had increased from $1.9 million to $6.8 million over the same period. Results for its Experis unit were not broken out from the overall business.
Talent International's website said it is the largest independently-owned and operated people placement and solutions business in Australia and New Zealand, with over 300 employees and revenue in excess of A$600 million.
Talent's NZ country manager Bianca Jones said the acquisition was a significant milestone in the business’ growth in the New Zealand market.
“Our focus going forward is on ensuring contractors and customers are given the best possible level of service through the transition process and thereafter," she said.
"We continue to improve our contractor digital product and expand our contractor experience offering. However, just as importantly we will aim to provide support to our contractors in areas outside of the normal professional relationship with a huge drive on well-being."