Target Timing
Seller ADG dienstengroep
Advisory sell side Rothschild & Co | M&A Advisory
Amstone Tax Lawyers | Tax Advisory
KPMG | Financial Due Diligence
Vriman M&A Lawyers | Legal Advisory Corporate M&A
Buyer Proman
Advisory buy side Atlas Fiscalisten | Tax Advisory
Eight Advisory | Financial Due Diligence
Allen & Overy | Legal Advisory Corporate M&A
Date announced: 2022-06-14
Data Room provider Virtual Vaults

Story:

French temporary work and human resources agency Proman has acquired a majority stake in Timing, including the Timing, InPerson, Personality, Doordoeners and Youbahn brands, from Dutch facility services provider ADG Dienstengroep. ADG will acquire a 30% stake in a new Proman subsidiary that covers all activities in the Dutch market.

With the sale, ADG lost more than half of its turnover and profits. In this way, the corporate group simplifies its own structure. Proceeds will strengthen facility service provider Heyday and cleaning group Asito. In the area of facilities, they want to add €500 million over the next few years. Proman has 700 branches in 16 countries with annual sales of approximately €3 billion. With the acquisition of Timing, PROMAN has gained a employment position in the Dutch temporary job market.

Source ADG dienstengroep
Source fd.
Source MenA