Second acquisition abroad important step in international buy-and-build strategy
Amsterdam, 07 June 2023 – IT staff recruiter Circle8Group has acquired, with immediate effect, a majority interest in Koenigstein, one of the fastest growing staffing solution providers in Germany. No financial details will be published. With this acquisition, having previously reeled in Dutch labels Circle8, FixedToday and Seven Stars, Circle8Group has taken an important next step towards further internationalisation. Earlier this year, the staffing company already took over Swiss recruiter Swisslinx.
The takeover of Koenigstein, which will continue to operate under its own name, has turned Circle8Group into one of the biggest IT staff recruiters in Europe. The German staffing solution provider will retain its incumbent management team as well as its current workforce. The acquisition thus fits right in with Circle8Group’s strategy of buy-and-build.
As part of this game plan, more strategic European takeovers have been planned for the coming period.
Facilitating international talent flow
After Swisslinx, the acquisition of Koenigstein is Circle8Group’s second foreign takeover in quick succession, bringing the number of brands within the group to a total of seven. “Koenigstein is the absolute star in the German staffing market,” says Circle8Group’s Mike Korenvaar. “With a diversified project portfolio and, above all, a superb reputation, this company is an excellent addition to our group. International takeovers are a cornerstone of our Total Talent Flow philosophy, whereby we aim to facilitate the flow of talent through organisations as much as we can, not only locally but more and more often across the border. With Koenigstein, we see a bright future ahead.”
Joining a broad group
Koenigstein is also looking forward to being under the umbrella of the Circle8Group. “The rapid development of digitisation and IT modernisation, including cloud transformation, cyber and information security, data analysis, AI and robotics, constitutes a challenge that just keeps growing,” according to the company’s CEO Holger Koenigstein. “By joining Circle8Group, which has a turnover of almost one billion euros and over 12,000 professionals on its books, we can offer our own professionals and clients all the advantages inherent in a team that brings expertise, personal focus and a broad knowledge of finance.”
Circle8 Group stands for Total Talent Flow, a new approach towards shaping the process governing the search for work, placement of suitable candidates and support of professionals, suppliers and clients. Total Talent Flow consists of finding, binding, growing and moving on. This way of working can be implemented successfully because of Circle8Group’s access to a network of labels, namely Circle8, Kwiik, People for Office, FixedToday, Seven Stars, Swisslinx (Switzerland) and Koenigstein (Germany), which are all part of the group. With over 12,000 professionals, the total organisation generates a turnover of almost one billion euros.
Koenigstein has over thirty years’ experience in the implementation of complex IT projects and benefits from sound business practice at home and abroad. The German enterprise draws its know-how from the ever-arising challenges associated with the services it provides to clients or with the deployment and integration of contract workers. Even if projects are complex in terms of financials or organisation, Koenigstein attaches the utmost importance to every detail and is centred around solid long-term relationships based on fair play. Trust, transparency and working together as equals are key motivators as is the desire to live up to the claim that IT projects will be undertaken with the greatest care and support all the way to the end. For more information, please go to https://www.edv-koenigstein.de/en/
RoseEdge Capital acted as trusted debt advisor for Axiom during the process.