ManpowerGroup acquires Australian & Singapore arm of Greythorn
With this acquisition, Greythorn and its banking and finance subsidiary Marks Sattin, become wholly owned by ManpowerGroup Australia, operating under the Experis brand.
The sale primarily includes Greythorn's operations across Australia - in Canberra, Melbourne and Sydney - as well as the Singapore business.
Mark Carriban, CEO, FiveTen Group said, “The sale largely comprises our Greythorn technology recruitment business across Australia and Singapore, which addresses differing technology markets, and clients, than our remaining Greythorn assets in EMEA and the Americas. Given minimal interdependencies with the rest of the Greythorn portfolio, the commercial logic for accepting an attractive offer was strong. Our technology recruitment operations across London, Dublin, Seattle, Chicago and Sao Paulo, will continue to deliver recruitment solutions under the Greythorn brand, as they have done for almost 40 years.
"The sale will enable us to re-invest and further grow our market-leading brands, building scale and depth of specialisation across our chosen international markets.”
“This is an exciting phase for ManpowerGroup in Australia” said Ram Chandrashekar, ManpowerGroup President Asia Pacific and Middle East.
“The strategic acquisition of Greythorn further strengthens our capabilities across the region and complements the organic growth of the Experis brand, the global leader in professional resourcing and project based workforce solutions. For clients, it means we can deliver an even broader range of specialist workforce solutions with combined assets and systems, and for candidates, even better opportunities across more clients.”
ManpowerGroup’s recent Talent Shortage Survey shows high demand for skills across the IT and finance sectors globally.
“Demand for IT talent is high and fast-changing – ranked number nine in the top ten hardest jobs to fill in Australia, and accounting and finance is ranked number seven. That demand includes specialists in key areas such as security, big data, analytics, mobility and cloud,” said Lincoln Crawley, managing director, ManpowerGroup Australia and New Zealand.
“The acquisition of Greythorn and Marks Sattin will provide access to a large, international network of resources and greater reach in both local and global markets, while continuing to focus on deep vertical expertise building on our leading services for clients and candidates.
Greythorn managing director, Richard Fischer will join the ManpowerGroup ANZ senior leadership team.
“Our acquisition by ManpowerGroup is a key development in unlocking the growth potential of the business and our ability to scale up in the region as the market leader in specialist Technology and Finance recruitment,” Fischer said.
He added, "Greythorn and Marks Sattin are complementary to Experis and we look forward to realising the synergies that are present across these businesses. This is a natural next step for us and will deliver exceptional opportunities for our clients and candidates,” said Fischer. “I look forward to extending the scale of our specialist technology and finance sectors for our clients.”
The FiveTen Group comprises five specialist recruitment brands - Antal Russia, EMR (Marketing, Digital & Communications), Laurence Simons (Legal & Compliance), Marks Sattin (Accountancy & Finance) and Greythorn (Technology).