The private shareholders of Timecraft Group have sold the company to Actief Group. Financial details have not been disclosed.
Timecraft Group was founded in 1991 by Boris and Cornelia Foltin in Regensburg, Germany, and is a leading temporary employment firm with a strong presence in Bavaria. A regional coverage of 12 locations and its proximity to customers and employees are Timecraft's competitive advantages, for which the company has won several awards. Timecraft's core service is the provision of commercial temporary employment services in the areas of industrial and manufacturing, office and finance, and IT services and engineering. In 2016, the company generated sales of approximately US$40 million.
Actief Group is one of the largest independent and growing temporary employment firms in Western Europe. Established in 1988, Actief has achieved a leading market position in Belgium over the last 25 years and now has a network of 66 branches with sales of approximately US$265 million. Supported by the majority shareholder Gilde Equity Management Benelux, turnover has almost tripled over the past six years. This has been accomplished through international expansion, starting in 2014 with the acquisition of TiP and of Tence in 2015, both located in the Netherlands. In 2015, Actief entered the German market via the acquisition of ISU personnel services in Karlsruhe. The group now operates under three brand names: Actief Interim in Belgium, Actief Werkt! in the Netherlands and Actief Personalmanagement in Germany.
Oaklins' team in Germany exclusively advised Timecraft Group’s private shareholders in this international sale. From over 50 national and international candidates and with the help of Oaklins’ team in the Netherlands, Actief Group was identified as the ideal buyer, acquiring 100% of the business.
Boris Foltin, Founder of Timecraft Group, said: "The team has advised us very well during the entire sales process. In addition to the high experience and M&A know-how, the great market understanding and the contacts within the industry were decisive for the success of this project."
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