Sigmar in partnership with French recruitment company
Irish Recruitment firm Sigmar Recruitment has announced a strategic partnership with French staffing giant Groupe Adéquat.
The partnership will be structured through a staged equity investment over a five-year period that will see Groupe Adéquat take majority interest in Sigmar and create a €1bn group.
The two companies will continue to look to expand internationally through both organic growth and acquisition.
"Groupe Adéquat has a very similar mindset and culture to Sigmar with major ambition to scale that aligns with ours," Adrian McGennis, chief executive of Sigmar, said.
"Our partnership with Groupe Adéquat will allow us to accelerate our plans to internationalise while expanding our service offering for our customers in Ireland."
The deal will result in what the company described as "significant" growth in Sigmar’s Irish operations, where the company currently has offices in Dublin, Cork, Tralee and Galway.
While it will also propel the company as Groupe Adéquat’s gateway to English speaking countries.
The existing management team is set to remain at Sigmar for the long term, and will work with the Groupe Adéquat’s leadership team to execute international expansion.
"Our mission over the next five years is to become one of the top 25 staffing firms in the world, both through organic growth continued investment in high potential international brands such as Sigmar," Groupe Adéquat leadership team said.
Last year the family-owned Groupe Adéquat, which has around 1,000 employees, reported revenue of €900m.