SAHR-0310 schreef op 21 juli 2015 22:30:
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Temporary-staffing company ManpowerGroup is on the hunt for more… well, manpower.
The Milwaukee-based company said it aims to acquire firms that complement its higher-end services, in an effort to strengthen its market share.
“We’re disciplined buyers, looking for good companies with strong, strategic and cultural fit at reasonable valuations,” said chief executive Jonas Prising, during a Tuesday conference call with analysts.
Manpower could take on more debt to fund its acquisitions, if necessary, said finance chief Michael van Handel.
“I do think the business can handle more leverage quite efficiently, and it is certainly a cheaper cost of capital,” Mr. van Handel said.
He didn’t specify how many acquisitions the company would make, but pointed to the company’s M&A activity over the last four quarters, saying, “I think you can expect that going forward.”
Manpower made seven acquisitions in the last 12 months, according to FactSet data. Its most recent deal, the purchase of German human resources provider 7S Group GmbH, is valued at $153.4 million and expected to close in the third quarter.
The company reported a second-quarter profit of $105.7 million, or $1.33 a share, down from $109.8 million or $1.35 a share, a year earlier. Revenue fell 9% to $4.9 billion.