MUMBAI: Randstad Holding has agreed with shareholders of Team HR Services Private Limited, operating under the brand name Team4U, to purchase 57 per cent of the company’s shares, with the option to purchase the remainder of the shares over the coming two years.
“Team4U provides a platform to further strengthen Randstad’s position in the growing Indian market, and fits with our overall growth strategy to establish a presence in the region,” the company stated.
“Team4U helps Randstad expand its Indian business. This gives us a head start in entering the rapidly growing staffing market thanks to their market share of some 10 per cent. Team4U is a well-managed company that has experienced excellent growth over the past years, now being the fourth largest staffing company in India. We are delighted to benefit from the managerial and commercial strengths of Team4U. This will allow us to further leverage our position in India, which we first established with our majority stake in the Indian recruitment company EmmayHR in December 2005,” said Randstad Holding CEO Ben Noteboom.
“Randstad’s expertise in staffing will enhance our capabilities for serving our clients. With Randstad as a strong partner, we will be in an even better position to continue our path of profitable growth,” said Team4U president and director Abhinav Dhawan.
Team4U provides staffing and HR solutions services, with payroll management services forming an important part of the service offering. Headquartered in Delhi, Team4U has offices in nine Indian cities, including Mumbai, Bangalore and Kolkata.
The staffing and recruitment services market in India is still relatively small, but rapidly developing. Randstad already established a position in the Indian recruitment market by obtaining 51 per cent of the shares of EmmayHR in December 2005. The current transaction with Team4U provides Randstad access to the Indian staffing market.
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