Sigmar recruits a French connection
Irish recruitment firm Sigmar Recruitment has announced a strategic partnership with French staffing giant Groupe Adéquat.
The partnership, which will be structured through a staged equity investment over a five-year period, will see Groupe Adéquat take a majority interest in Sigmar, creating a €1bn group, Sigmar said.
Last year the family-owned Groupe Adéquat, which has around 1,000 employees, reported revenue of €900m.
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.
The company currently has offices in Dublin, Cork, Tralee and Galway.
It will also utilise 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.
The team will work with their Groupe Adéquat's leadership counterparts to execute international expansion.
"Our mission over the next five years is to become one of the top 25 staffing firms in the world," Groupe Adéquat leadership team said.