WOODCLIFF LAKE, NEW JERSEY, March 11, 2015 – The Adecco Group, the world’s leading provider of Human Resources solutions, today announced the acquisition of Knightsbridge Human Capital Solutions for an enterprise value of CAD 80 million. Knightsbridge is the market leader in Canada in career transition, talent and leadership development and recruitment services, with revenues of CAD 56 million in 2014 from these activities. Knightsbridge will be combined with Adecco subsidiary Lee Hecht Harrison, the global leader in career transition and talent mobility.
Companies today seek to partner with organizations that can globally deliver world-class talent development and career transition services seamlessly and consistently.
“Knightsbridge joining forces with Lee Hecht Harrison will significantly benefit the clients of both organizations in Canada and around the world,” said Peter Alcide, President of Lee Hecht Harrison. “Companies today seek to partner with organizations that can globally deliver world-class talent development and career transition services seamlessly and consistently. The combined organization in Canada will be co-branded and will enhance the market-leading services we offer companies to ensure they are best optimizing their talent.”
The combination of Lee Hecht Harrison with Knightsbridge offers attractive synergy potential through the optimization of the combined footprint and back-office functions. The transaction will be financed with Adecco’s existing financial resources and is expected to be EVA-enhancing in the second year after closing. The transaction remains subject to customary closing conditions and is expected to close in Q2 2015.