Staffing acquisition fits within the buy-and-build strategy
Zurich, March 28, 2023 – The Swiss-based investor Circle8Group has acquired Swiss IT staffing and consultancy company Swisslinx with immediate effect. After acquisitions of amongst others, the Dutch labels Circle8 (formerly De Staffing Groep), FixedToday and Seven Stars, the deal marks a very important step in its international expansion for Circle8Group. With an impressive client portfolio and strong results, Swisslinx is market leader in the Swiss financial services sector. The full acquisition of the company fits within the buy-and-build strategy of Circle8Group. Financial details have not been disclosed.
Swisslinx will continue to operate under the current management and brand name, and will operate autonomous from other staffing organizations within Circle8 Group. “We are proud to expand Circle8Group’s staffing strategy internationally with Swisslinx”, says Guus Franke, founder of Axiom. “Expansion in Switzerland is an important step in increasing our international visibility, as our aim is to become the largest IT staffing group in Europe. With the acquisition of Swisslinx, Axiom becomes market leader in the Swiss financial industry and Europe’s largest ICT staffing supplier. This will facilitate our entry into other EU markets.
Propelled by an ever growing demand for a highly skilled flexible workforce, Swisslinx has grown by twenty percent on average in recent years. “Since our inception, 23 years ago, we have developed and partnered with an impressive portfolio of clients, and are fortunate to count most SMI [Swiss Market Index] listed companies as valued clients today”, thus Olivier Ruedin, CEO and co-founder of Swisslinx.
“We are confident that we can continue to grow and expand our international presence by teaming up with Circle8Group. Being part of a large international group will enable us to offer our clients and candidates exciting opportunities.”
Reliable long term ownership secured
The acquisition was successfully finalized after going through an exclusive process. Ruedin: “Swisslinx is in the right hands with Circle8Group. Their entrepreneurial spirit, long-term vision and extensive knowledge of the industry were deciding factors in pursuing this opportunity.”
Likewise, Circle8Group looks back on a pleasant process and foresees a bright future with Swisslinx as part of its portfolio. Franke: “Swisslinx’ professionals have a unique insight into the Swiss ICT market spanning decades, alongside strong consultancy qualities that will strengthen our group. This acquisition immediately feels familiar. I see great opportunities in our collaboration and I am convinced that we will learn a lot from each other’s qualities.”
Drake Star served as the sell side advisor during the whole process leading up to the transaction.
Niederer Kraft Frey (NKF) represented the Buyers as Legal advisor whereas WalderWyss advised the Sellers. RoseEdge Capital acted as debt advisor for Axiom during the process. PwC Advisory assisted Axiom on financial and commercial due diligence.