Temp Holdings and Intelligence Combine Businesses
April 3, 2013 – Temp Holdings Co., Ltd. and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) have announced the signing of a definitive agreement under which Temp Holdings will acquire all outstanding shares of Intelligence Holdings, Ltd. (“ntelligence) from KKR and the management and employees of Intelligence, for an enterprise value of JPY68.0 billion (U.S. $716 million), representing an equity value of approximately JPY 51 billion (U.S. $537 million). Temp Holdings is one of Japan’s largest comprehensive recruitment services companies and has actively expanded its business in Asia. Intelligence president and CEO, Hirotoshi Takahashi, stated: “By joining together with Temp Holdings we are creating a group that aims to be a new leader in the HR solutions business in Japan and Asia.”