ManpowerGroup, the leading global workforce solutions company, announced that it has agreed to acquire ettain group (ettain) for $925 million in cash.
ettain 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. The combination will provide increased strength in delivering IT services to the higher growth financial services and health care industries.
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ettain 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. 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.
For the twelve months ended June 30, 2021, ettain pro forma Revenues and pro forma EBITDA were approximately $724 million and $75 million respectively. Pro forma results assume businesses ettain acquired occurred at the beginning of the period.
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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. and global Experis IT resourcing and services business”.
Becky Frankiewicz, ManpowerGroup President North America, added, “As companies amplify their investments in technology, demand for the IT skills that Experis provides is accelerating too. That’s why we look forward to welcoming ettain’s talented team to ManpowerGroup. 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“.
Trent Beekman, ettain group CEO, said, “This acquisition creates compelling opportunities for employees and offers superior value for 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. The combination of these two great organizations is exciting for our employees and provides many more opportunities to provide value to our clients.”
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