House of HR acquires pluss group with legal guidance from Allen & Overy
House of HR acquires pluss group with legal guidance from Allen & Overy
House of HR, a prominent European service group operating in the HR industry, has received legal guidance from Allen & Overy regarding its purchase of pluss Personalmanagement GmbH, a German company that focuses on temporary recruitment for healthcare and social services.
pluss Personalmanagement GmbH has a wide geographic reach in Germany with 48 locations throughout the country, and generated a turnover of EUR 157 million in 2022, with an EBITDA of over EUR 9 million. With the assistance of House of HR, pluss intends to expand its locations to 55 this year.
The company, headquartered in Hamburg, currently employs 470 individuals and is responsible for employing over 3,000 people. Christian Baumann and Wolfgang Ungerathen, along with the entire management team, will continue their leadership roles as Managing Directors. It is important to note that the acquisition of pluss is subject to the approval of the German competition authority.
House of HR's acquisition of pluss has positioned the company as one of the largest providers of healthcare HR in the country, and it intends to become one of the market leaders in the DACH region in the coming years.
The collaboration between avanti and LD Personalvermittlung, two German HR service providers that specialize in the healthcare sector and were acquired by House of HR in 2021 and 2022 respectively, will generate synergies to achieve this objective. By bringing together the strengths of avanti, LD Personalvermittlung, and pluss, the company plans to expand further throughout the entire DACH region.
This marks the fourth acquisition in Germany for House of HR, following the previous purchases of avanti in 2021, and SOLCOM and LD Personalvermittlung in 2022.
The Allen & Overy team, led by M&A partner Dr. Matthias Horn, provided legal guidance on all aspects of the transaction, including establishing the acquisition structure and advising on matters of corporate law, competition, employment, and tax law.
The Allen & Overy team was led by partner Dr. Matthias Horn and senior associate Dr. Matthias Taggeselle (both Corporate/M&A).
The team further comprised partners Dr. Heike Weber (Tax, all Frankfurt), counsel Dr. Ioannes Thanos (Antitrust), senior associate Juliane Dieckmann-Keden, associates Christin Schlorf (all Hamburg), Florian Diehl (all Corporate/M&A), Dr. Sven Gunkel (Pensions), Sören Rathjens (Tax), Hauke Jung (Real Estate, all Frankfurt), Merle Hermann (Employment) and Julius von Düring (Antitrust, both Hamburg) as well as senior transaction officer Laura Thiel (Corporate/M&A, Frankfurt).
House of HR's in-house team comprised Delphine Vandenabeele (M&A Legal Counsel) and Ward Stubbe (M&A).
