Europe – Gi Group acquires the Spanish temporary work agency Grupo Norte

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July 30, 2020

GI Group, the Italian recruitment company, announced today that it has completed the acquisition of Grupo Norte, a Spanish company specialized in temporary and permanent recruitment and training with more than 40 years of experience in the local market.

Financial details of the transaction were not disclosed.

GI Group, which entered the Spanish market in 2008, entered into 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 a turnover in 2019 of 130 million euros.

The company will further strengthen its presence with this acquisition and will reach regions such as Asturias and the Basque Country.

Founded in 1972, Grupo Norte specializes in the provision of numerous HR services and today has around 1,700 corporate clients and its turnover in 2019 was around 70 million euros. The company also has an international presence in Chile, Peru and Portugal.

Earlier this month, Gi Group announced that it would enter the US market with the acquisition of CareerArc Outplacement.

Stefano Colli-Lanzi, CEO of Gi Group, said: “This acquisition comes a few days after our launch in the US market. It allows us to improve our positioning and be more competitive in Spain, a country that is close to our hearts to strengthen our role as a global player in the HR services sector, and which is part of our medium-term objective. to reach 6 billion euros in turnover by 2023. This objective remains largely untouched by the pandemic and, today, the group is totally focused on managing the recovery phase.

“The transaction was concluded at a time when the Spanish economy is trying to recover from the economic shock caused by the pandemic; all the more reason why we believe that an employment company like Gi Group can provide a real boost to this recovery, by meeting the needs of candidates and companies through services such as search and selection, training, outsourcing and career transition support,” concluded Colli-Lanzi.

Founded in 1998, GI Group began its internationalization strategy in 2007. Today, it operates directly in 29 countries and in another 57 through partnerships.

Earlier this month, Gi Group reported revenue of 2.6 billion euros for the whole of 2019, an increase of 13% compared to the previous year.

Gi Group ranks fourth on the recruitment industry analysts list of the largest recruitment companies in Italy.

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