ManpowerGroup acquired ettain group (AMCP Staffing Holdings, LP) for $925 million in cash, a transaction completed in October 2021, structured as all cash, via an equity purchase and merger agreement.
ettain group (AMCP Staffing Holdings, LP) operates in Professional IT resourcing and services (Experis). ettain group, founded in 1996, was one of the largest privately held IT resourcing and services providers in North America, with 28 offices across 24 key regions and particular strength in Financial Services, Healthcare IT, Government and Technology clients. For the twelve months ended June 30, 2021, ettain had pro forma revenues of approximately $724 million and pro forma EBITDA of approximately $75 million. It became part of Experis, ManpowerGroup's global IT resourcing and services brand.
The acquisition accelerated ManpowerGroup's strategy of diversifying its business mix into higher growth and higher value services and positioned Experis as a $4.5 billion global business, with the combination expected to be accretive to 2021 and 2022 EPS excluding one-time and integration costs.
We're pleased to be announcing the acquisition of ettain, which accelerates our strategy of diversifying our business mix into higher growth and higher value services, continuing the expansion of our U.S. and global Experis IT resourcing and services business.Jonas Prising, Chairman & CEO, ManpowerGroup
Advisory firms were not disclosed for this transaction.