A team of Heuking Kühn Lüer Wojtek, led by Stuttgart-based corporate partner Dr. Peter Ladwig, advised HR management group House of HR on the acquisition of the German TimePartner group. Managing partners Sven Kilian and Thorsten Droste join the management team in taking out holdings in the new group. The purchase price has not been disclosed.
TimePartner Group operates a network of 120 offices in Germany and generated revenues of some EUR 260 million in 2015. The group has 370 employees and more than 7,500 people working as temporary staff. TimePartner Group is divided in 4 business segments covering diverse industries. It offers an integrated services platform with custom-fit and flexible staffing solutions, including temporary staffing, personnel placement and provision of temporary workers and on-site-management for large customers.
House of HR, headquartered in Roeselare, Belgium, is one of the fastest growing European companies in the field of temporary employment and recruitment. House of HR Group, including TimePartner, expects consolidated sales of more than one billion euros by the end of 2016. With Abylsen, Accent, Continu, Covebo, Logi-Technic, Peak6, tec, Zaquensis, and TimePartner, House of HR is pursuing a multi-brand strategy.
The acquisition moves House of HR up to number seven in Germany of specialized recruitment and temporary employment agencies. It is the company's objective to be among the top five providers in Germany by 2020. The takeover of TimePartner is already House of HR's second acquisition in Germany after having taking over temporary employment agency Zaquensis in March 2016.
Counsel to House of HR
Heuking Kühn Lüer Wojtek:
Dr. Peter Ladwig (Lead), Dr. Hermann Ali Hinderer, LL.M. (Co-Lead), Dr. Alexander Schott, Lena Ziegler, Sarah Dupont, all Stuttgart, all Corporate
Klaus Weinand-Härer, Dr. Claudia Rüggeberg, both Frankfurt, both Tax,
Michael Neises, Tobias Riemenschneider, Christian Staps, all Frankfurt, all Finance,
Dr. Frederick Wiemer, Hamburg, Dr. Rainer Velte, Michael Vetter, LL.M., both Düsseldorf, all Antitrust, EU Law,
Prof. Dr. Martin Reufels, Kerstin Deiters, LL.M., Dr. Sascha Schewiola, all Cologne, Bernd Weller, Frankfurt, all Employment,
Dr. Juliane Reichelt, Karen Ishola, both Stuttgart, both Real Estate,
Dr. Markus Klinger, Stuttgart, IP/IT,
Dr. Nicole Armingeon, Stuttgart, Public Law,
Dr. Stefan Jöster, LL.M., Titus Ludwig, LL.M., both Cologne, both Insurance