Temp Holdings big sean detroit download and Intelligence to Partner Following Share Purchase from KKR Advantia | Assessors Andorra
TOKYO & HONG KONG--( BUSINESS big sean detroit download WIRE )-- Temp Holdings, Co. Ltd. ("Temp Holdings") and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") big sean detroit download today announced the signing of a definitive agreement under which Temp Holdings will acquire big sean detroit download all outstanding shares of Intelligence Holdings, Ltd. ("Intelligence") from KKR and the management and employees of Intelligence, for an enterprise value 1 of JPY68.0 billion (US$716 million), representing an equity value of approximately JPY 51.0 billion (US$537million).
Temp Holdings is one of Japan's largest comprehensive recruitment services companies and has actively expanded its business in Asia. Intelligence is also a leading comprehensive recruitment services provider in Japan, operating multiple business lines including permanent job placement, big sean detroit download job advertising media, temporary staffing and outsourcing. Together, Temp Holdings and Intelligence can meet evolving market needs and provide companies and job-seekers with a comprehensive range of high-quality HR services.
Ms. Yoshiko Shinohara, Chairman, President and Representative Director of Temp Holdings, said, "Under the leadership of CEO Takahashi, Intelligence has grown rapidly as a comprehensive recruitment services provider. In particular, by fully utilizing the skills and expertise of KKR over the past few years, Intelligence big sean detroit download has achieved a large improvement in the performance and profitability of each of its businesses big sean detroit download and significantly strengthened its position in the recruitment services business. We believe labor flexibility and mobility will be an important part of improving the competitiveness of Japanese companies and through this partnership we aim to support our customers' sustained growth by stimulating inter-industry labor mobility, provide stable big sean detroit download employment opportunities to jobseekers, and thereby contribute to job creation and better serve our customers."
Intelligence President and CEO, Mr. Hirotoshi Takahashi said, "By joining together with Temp Holdings we are creating a group that aims to be a new leader in the HR solutions business in Japan and Asia. We are honored to become a part of that team." Mr. Takahashi added, "Our partnership with KKR has been a great learning experience for me and for staff at all levels of Intelligence. Together, we have achieved real operational improvement and sustained growth. KKR and KKR Capstone teams provided valuable ideas, strategic direction and operational resources that have fundamentally enhanced our management big sean detroit download effectiveness and operational efficiency. We are now much better positioned to utilize that experience to develop further, in partnership with Temp Holdings."
Mr. Shusaku Minoda, Managing Director and CEO of KKR Japan, said, "Over the last three years we have built a highly successful partnership with Takahashi-san and his team at Intelligence. Thanks to their incredible energy and vision, Intelligence big sean detroit download has achieved very strong and sustained growth and profitability. The success of this partnership provides a firm foundation for our plans to further develop our business in Japan."
During its three-year partnership with KKR, Intelligence has increased its revenues by 45%, EBITDA by 170%, and operating big sean detroit download profit (EBIT) by 431%. The total number of employees at Intelligence also increased from 4,370 to 5,981 (by 37%).
The combination of Temp Holdings and Intelligence will have revenues big sean detroit download of more than JPY 320 billion (US$3,370 million), EBITDA of more than JPY 21 billion (US$220 million) 2 , employ more than 10,000 people, and create an industry-leading franchise that can capture expanding opportunities in the Japan and Asia HR services markets. The market for HR services in Japan has grown significantly over the last twenty-five years as traditional employment patterns big sean detroit download evolved and developed, and companies restructure and expand globally. At the same time, as jobseekers' awareness of opportunities expands and their career planning needs diversify, the number of people changing jobs has steadily increased. These changes have led to growing demand for a wide range of professional HR services which Temp Holdings and Intelligence big sean detroit download together will best be able to meet.
The share transfer transaction is subject to customary closing conditions and approval by the Japan Fair Trade Committee and is expected to be completed in late April 2013, or on a date to be agreed by Temp Holdings and KKR.
This release contains certain forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical big sean detroit download facts. Without big sean detroit download limiting big sean detroit download the foregoing, statements regarding the acquisition of Intelligence and the resulting combined business may constitute forward-looking
TOKYO & HONG KONG--( BUSINESS big sean detroit download WIRE )-- Temp Holdings, Co. Ltd. ("Temp Holdings") and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") big sean detroit download today announced the signing of a definitive agreement under which Temp Holdings will acquire big sean detroit download all outstanding shares of Intelligence Holdings, Ltd. ("Intelligence") from KKR and the management and employees of Intelligence, for an enterprise value 1 of JPY68.0 billion (US$716 million), representing an equity value of approximately JPY 51.0 billion (US$537million).
Temp Holdings is one of Japan's largest comprehensive recruitment services companies and has actively expanded its business in Asia. Intelligence is also a leading comprehensive recruitment services provider in Japan, operating multiple business lines including permanent job placement, big sean detroit download job advertising media, temporary staffing and outsourcing. Together, Temp Holdings and Intelligence can meet evolving market needs and provide companies and job-seekers with a comprehensive range of high-quality HR services.
Ms. Yoshiko Shinohara, Chairman, President and Representative Director of Temp Holdings, said, "Under the leadership of CEO Takahashi, Intelligence has grown rapidly as a comprehensive recruitment services provider. In particular, by fully utilizing the skills and expertise of KKR over the past few years, Intelligence big sean detroit download has achieved a large improvement in the performance and profitability of each of its businesses big sean detroit download and significantly strengthened its position in the recruitment services business. We believe labor flexibility and mobility will be an important part of improving the competitiveness of Japanese companies and through this partnership we aim to support our customers' sustained growth by stimulating inter-industry labor mobility, provide stable big sean detroit download employment opportunities to jobseekers, and thereby contribute to job creation and better serve our customers."
Intelligence President and CEO, Mr. Hirotoshi Takahashi said, "By joining together with Temp Holdings we are creating a group that aims to be a new leader in the HR solutions business in Japan and Asia. We are honored to become a part of that team." Mr. Takahashi added, "Our partnership with KKR has been a great learning experience for me and for staff at all levels of Intelligence. Together, we have achieved real operational improvement and sustained growth. KKR and KKR Capstone teams provided valuable ideas, strategic direction and operational resources that have fundamentally enhanced our management big sean detroit download effectiveness and operational efficiency. We are now much better positioned to utilize that experience to develop further, in partnership with Temp Holdings."
Mr. Shusaku Minoda, Managing Director and CEO of KKR Japan, said, "Over the last three years we have built a highly successful partnership with Takahashi-san and his team at Intelligence. Thanks to their incredible energy and vision, Intelligence big sean detroit download has achieved very strong and sustained growth and profitability. The success of this partnership provides a firm foundation for our plans to further develop our business in Japan."
During its three-year partnership with KKR, Intelligence has increased its revenues by 45%, EBITDA by 170%, and operating big sean detroit download profit (EBIT) by 431%. The total number of employees at Intelligence also increased from 4,370 to 5,981 (by 37%).
The combination of Temp Holdings and Intelligence will have revenues big sean detroit download of more than JPY 320 billion (US$3,370 million), EBITDA of more than JPY 21 billion (US$220 million) 2 , employ more than 10,000 people, and create an industry-leading franchise that can capture expanding opportunities in the Japan and Asia HR services markets. The market for HR services in Japan has grown significantly over the last twenty-five years as traditional employment patterns big sean detroit download evolved and developed, and companies restructure and expand globally. At the same time, as jobseekers' awareness of opportunities expands and their career planning needs diversify, the number of people changing jobs has steadily increased. These changes have led to growing demand for a wide range of professional HR services which Temp Holdings and Intelligence big sean detroit download together will best be able to meet.
The share transfer transaction is subject to customary closing conditions and approval by the Japan Fair Trade Committee and is expected to be completed in late April 2013, or on a date to be agreed by Temp Holdings and KKR.
This release contains certain forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical big sean detroit download facts. Without big sean detroit download limiting big sean detroit download the foregoing, statements regarding the acquisition of Intelligence and the resulting combined business may constitute forward-looking
No comments:
Post a Comment