House of HR announces merger between Timepartner and Zaquensis
The German talent solutions companies TIMEPARTNER and ZAQUENSIS are to merge. The companies – both part of House of HR, one of Europe’s largest HR service provider groups – specialise in the placement of specialist profiles. The merger should combine the strengths of the two companies and make the new group the seventh largest HR service provider in Germany, with the ambition to specialise even further. The merger creates opportunities for further growth, both for the new group and for House of HR. The merger prepares the group for more investments in Germany, both through M&A and through the implementation of the group’s digital applications.
2020 was a year full of Covid-19 challenges in the HR services industry. Needless to say, the German market was also affected. Yet two of the biggest HR players have miraculously managed to hold out: TIMEPARTNER and ZAQUENSIS.
To enable further growth, the two companies will work together from January 2021 and officially merge by April 2021. Together, they aim to become an even stronger company, ideally positioned in the field of recruitment and placement: fast, digital, specialised and nationwide. Through their complimentary nature, the new group aims to become one of the top three recruitment and talent-solving companies in Germany.
TIMEPARTNER is a group consisting of TIMEPARTNER, Aero High Professionals, Aartos Personalservices and ibb. Together, they employ around 10,000 specialised workers throughout Germany, generating a turnover of approximately EUR 360 million in 2019. ZAQUENSIS has a strong focus on industrial, technical, office and financial services. It employs more than 3,700 staff, generating a turnover of EUR 110 million in 2019.
For House of HR, the merger offers many growth opportunities. Rika Coppens, CEO of House of HR, explains the plans: ‘The merger of TIMEPARTNER and ZAQUENSIS is a logical step in our further plans for expansion. We want to structure the companies optimally within our group. This merger helps us to increase our impact on the European HR scene, especially in the placement of specialist talent. We do this both by growing organically and by acquiring companies that are active in this field. The merger also facilitates the deployment of House of HR’s digital solutions in Germany. Take, for example, SWOP, NowJobs …’
The merger of TIMEPARTNER and ZAQUENSIS will be worked out in more detail in the course of 2021. The strengths of both companies will be preserved and investments will be identified. Internal employees will be offered new opportunities, and there will be no operational impact for clients or the employees working for those clients. A market survey is being carried out with regard to the brand names to be introduced in the future.