House of HR announces TIMEPARTNER and ZAQUENSIS to join forces
German talent solution companies TIMEPARTNER and ZAQUENSIS are about to join forces. Both companies – part of House of HR, one of the largest HR-services provider groups in Europe – are specialized in the placement of high-demand profiles. By merging, they want to bundle the strenghts of each, and position the new group as the seventh largest staffing player in the German market with the ambition to further specialize. The merger will create opportunities for further growth, both for the newly created group and for the House of HR as a whole. The merger also sets the scene and prepares the group for further Investments in Germany, both via M&A and the implementation of some of the group's digital applications.
2020 has been a year with a lot of Covid-19 challenges in the staffing industry. Needless to say, the German market was affected as well. Nevertheless, two of the major players in the field of recruiting and staffing, TIMEPARTNER and ZAQUENSIS, have very well survived these harsh times.
In order to enable further growth, the two companies started cooperating in January 2021, and contemplate to officially merger by April 2021. Together, they want to shape an even more powerful company, ideally positioned in recruitment and placement: fast, digital, specialized, nationwide. Thanks to their complementarity, the new group aims to become one of the three largest recruiting and talent solution firms in Germany.
TIMEPARTNER is a group consisting of TIMEPARTNER, Aero High Professionals, Aartos Personalservices and ibb. Together, they employ some 10.000 specialized workers all over Germany, resulting in a turnover of about 360 million euro in 2019. ZAQUENSIS has a strong focus on industry, technical, office and finance services. It puts more than 3.700 people at work, and realized a turnover of about 110 million euro in 2019.
For House of HR, the merger offers many opportunities for growth. Rika Coppens, CEO of House of HR, comments on the plans: ‘The merger of TIMEPARTNER and ZAQUENSIS is a logical step in our future growth plans. It is important that the companies in our group are optimally structured. It will enable us to further grow our footprint on the European HR-scene, mainly in specialized talent positioning. We will do so by growing organically as well as by acquiring companies active in the field. It will also allow us to more easily deploy the House of HR digital solutions in Germany, such as SWOP, NowJobs, …’
The merger between TIMEPARTNER and ZAQUENSIS will further be worked out in the course of 2021 also depending on clearance by the German tax authorities. The strenghts of both companies will be maintained and investments will be identified. Internal staff will be offered new personal opportunities and there will be no operational impact for the customers or workers at the customers. Relating to the future brand names to be used, a market study is set up.
For more questions or an interview with House of HR CEO Rika Coppens
About House of HR
House of HR is a leading European services group active in the world of human resources (HR). Having its headquarters in Roeselare, Belgium, the group consists of nine companies and 38 brands, all focusing on temporary employment (with special attention to ‘temporary to permanent’), fixed recruitment, recruitment of specialized profiles (such as engineers, consultants, workers), and digital recruitment.
In 2019, House of HR realized a consolidated turnover of 1,8 billion euros and an EBITDA of 220 million euros. De group is providing work to 47.000 people, and counts 3.400 employees spread over 590 offices. These offices serve both small, medium-sized and large companies all over Europe. House of HR is a ‘boutique multinational’ with a strong emphasis on entrepreneurship, digitalization and innovation.