August 14, 2011 – Randstad has acquired SFN Group through a cash tender offer. As a result of the acquisition, Randstad doubles its presence in the U.S. and reinforcing its leading position in Canada. In North America, the combination will have revenues of $4.6 billion (pro forma, LTM March 31, 2011) of which 39 percent in professionals, 52 percent in staffing and 9 percent in hr solutions (payrolling, managed services and recruitment process outsourcing). The combination will have over 5,000 employees and operate from over 1,000 outlets. “The executive management and I are confident that the combination of our two companies is a strong strategic fit that will not only deliver expanded service offerings for our clients in North America, but also creates opportunities to service them on a global basis,” said Roy Krause, SFN Group president and CEO. “Both companies have complementary cultures and values which will provide growth opportunities for our staff associates.” Randstad is a wholly owned subsidiary of Randstad Holding nv, a $17.7 billion global provider of professional employment services and the second largest staffing organization in the world.
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