Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. Supplemental financial information referenced in the conference call can be found at. Interested parties are invited to listen to the webcast and view the presentation by logging on to in the section titled "Investor Relations." Materials for the conference call will be included within the Investor Relations section of our website at. In connection with this announcement, ManpowerGroup will hold an investor conference call live over the Internet today at 7:30 a.m. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close as early as late September 2021. The acquisition will primarily be an asset purchase for tax purposes, resulting in significant anticipated annual cash income tax savings to ManpowerGroup. ManpowerGroup expects to fund this acquisition with existing cash and approximately $150 million from its revolving credit facility which it intends to repay over 12 months. Under terms of the agreement, ManpowerGroup will acquire all of ettain's equity for $925 million to be paid at closing. The combination of these two great organizations is exciting for our employees and provides many more opportunities to provide value to our clients." This is a great opportunity for us to leverage our demonstrated expertise and strong reputation with Experis and ManpowerGroup's global leadership in workforce solutions. Trent Beekman, ettain group CEO, said, "This acquisition creates compelling opportunities for employees and offers superior value for clients. Their impressive growth, proven leadership and winning culture will enable us to extend our capabilities, providing greater solutions expertise and more skilled talent to our clients as well as wider IT opportunities to our Experis consultants across North America". That's why we look forward to welcoming ettain's talented team to ManpowerGroup. and global Experis IT resourcing and services business".īecky Frankiewicz, ManpowerGroup President North America, added, "As companies amplify their investments in technology, demand for the IT skills that Experis provides is accelerating too. Jonas Prising, ManpowerGroup Chairman & CEO, said, "We're pleased to be announcing the acquisition of ettain, which accelerates our strategy of diversifying our business mix into higher growth and higher value services, continuing the expansion of our U.S. Pro forma results assume businesses ettain acquired occurred at the beginning of the period. Founded in 1996, ettain has 28 offices located in 24 key regions across North America and has earned ClearlyRated's Best of Staffing Diamond Award for both Client and Talent Satisfaction for 10 consecutive years.įor the twelve months ended June 30, 2021, ettain pro forma Revenues and pro forma EBITDA were approximately $724 million and $75 million respectively. The combination will provide increased strength in delivering IT services to the higher growth financial services and health care industries.Įttain is one of the largest privately-held IT resourcing and services providers in North America, with particular strength in Financial Services, Healthcare IT, Government and Technology clients. 24, 2021 /PRNewswire/ - ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, announced today that it has agreed to acquire ettain group (ettain) for $925 million in cash.Įttain will become part of Experis, ManpowerGroup's global IT resourcing and services brand, and when combined, the business will have total annual revenues of more than $4.5 billion globally with more than $1.7 billion in North America.
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