ManpowerGroup acquired Manpower Switzerland (and remaining interest in Experis AG) for $219.5 million aggregate cash consideration, funded through cash on hand, a transaction completed in April 2019, structured as Acquired the remaining 51% controlling interest in the Swiss franchise (Manpower Switzerland) to obtain full ownership, and, under the same purchase agreement, the remaining 20% interest in Experis AG (all cash).
Manpower Switzerland (and remaining interest in Experis AG) operates in Southern Europe, is based in Switzerland. On April 3, 2019, ManpowerGroup acquired the remaining 51% controlling interest in its Swiss franchise (Manpower Switzerland) to obtain full ownership of the entity, and as part of the same purchase agreement acquired the remaining 20% interest in Experis AG. Manpower Switzerland provides contingent staffing services under the Manpower brand across Switzerland's four main language regions.
Obtained full ownership of its Swiss operations, a significant Southern Europe market.
Advisory firms were not disclosed for this transaction.