HeadFirst Group strengthens its internationalization strategy with MSP frontman Arco Elsman
Arco Elsman has been appointed managing director MSP services by HR tech service provider HeadFirst Group. This gives him ultimate responsibility for the success of Staffing Management Services and ProUnity, HeadFirst Group's two international Managed Service Providers. "The MSP market is ripe for innovation and international expansion, and with Arco we are excellently positioned to further strengthen our services in currently 15 countries and push our boundaries," said Marion van Happen, CEO HeadFirst Group.
MSP services are known worldwide as a progressive and efficient strategy whereby organizations outsource their hiring processes to external experts, the MSPs. Elsman brings over 20 years of knowledge and experience in the outsourced HR services industry, including MSP and Recruitment Process Outsourcing (RPO). His impressive career includes leadership roles at leading organizations such as Yacht, where he held the position of operations director, Twago, as managing director of the freelance marketplace and talent pool, and carried European responsibility at Randstad RiseSmart until the end of 2023.
With that fresh perspective, he is now clearly ready for his new challenge: "I was looking for an organization where customer focus, innovative entrepreneurship and exponential growth are key. This is what I have found at HeadFirst Group. I look forward to using my experience in the human capital market to take the next step of growth - together with the enthusiastic team."
Van Happen added: "Arco is a perfect fit for this position for his empathy and client focus, as well as his astute talent management and proven success in internationalization and scaling HR tech companies. The initial focus is on successfully serving our existing clients, adding large clients to our portfolio and organizing consulting services. From this base, we will continue our ambitious internationalization strategy."
Global player
HeadFirst Group recently confirmed its agreement with Impellam Group to acquire Impellam. They intend to join forces to become a leading global player in MSP and talent management. The combination, with more than €7 billion in revenue (managed spend, by 2022), will enable accelerated growth opportunities in Europe, the U.K., North America and APAC. The appointment of Elsman as managing director of MSP services is consistent with this strategy.
HeadFirst Group confirms takeover bid for Impellam Group, creating world leader in workforce solutions for STEM talent
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HeadFirst Group ("HeadFirst") and Impellam Group ("Impellam") announce that they have reached agreement on HeadFirst's acquisition of Impellam. They are joining forces to form a leading global player in MSP and talent management. The combination, with over €7 billion in revenue (managed spend, by 2022), will enable accelerated growth opportunities in Europe, UK, North America and APAC.
For HeadFirst, Impellam represents an attractive opportunity to invest in one of the world's market-leading Managed Services Providers and a leading group of companies specializing in recruitment for STEM (data, life sciences, tech & engineering) professionals. There is a clear strategic rationale for the combination of HeadFirst and Impellam that is expected to deliver the following benefits
- highly complementary geographic coverage, with limited to no overlap, creates a larger group with a strong presence in continental Europe, the United Kingdom, North America and APAC, which can benefit clients with a larger, global, geographic spread;
- complementary skills and expertise create significant opportunities for our clients and for cross-selling our services;
- HeadFirst Group's strong technology, data and digital platforms provide an opportunity to further improve operational and business performance within the larger group;
- a strong combined management team can continue to deliver on the long-term strategy of a larger group;
- more career opportunities for colleagues within the larger group.
Julia Robertson, CEO at Impellam Group, says: "We look forward to joining forces with HeadFirst to create a larger, more digital and diverse service offering with greater geographic reach. The combined strength of market-leading brands, cultures and people - balanced with technology from the expanded group - enables us to even better support our clients with their workforce management challenges across the UK, Europe, North America and APAC. At the same time, it provides more career opportunities for colleagues."
Han Kolff, Chairman of the board at HeadFirst Group, commented, "This merger will be groundbreaking, building on the complementary strengths of Impellam and HeadFirst. Together, we will become a global leader in mission-critical talent, enabling us to serve our clients, suppliers and professionals in an unparalleled way. We have an exciting journey ahead of us with plenty of opportunities for our teams, deepening HR technology and expanding geographic reach further and faster."
Future management of the group
HeadFirst Group aims to bring Impellam Group's key executive management, namely Julia Robertson (current Chief Executive Officer of Impellam Group) and Tim Briant (current Chief Financial Officer of Impellam Group) to the board as Group CEO and CFO, respectively. They will work together with board members Marion van Happen, who will also continue as CEO of HeadFirst Group, and Han Kolff, who will be non-executive Chairman, and non-executive board members Koen Bekkering and Boyd Sleeman, to drive the future success and growth of the new group.
For now, there are no changes in the day-to-day business of Impellam Group and HeadFirst Group. Impellam and HeadFirst will continue to provide their services to clients, suppliers and professionals unchanged. The transaction is expected to close in the first half of 2024.
An announcement with full details on the terms of the transaction can be read in full on the website headfirst.group/takeover
About HeadFirst Group
HeadFirst Group is a leading, international HR tech service provider and the largest platform for professionals in the Benelux, operating in fifteen European countries. The organization offers a diversity of HR solutions, such as Managed Service Providing, Recruitment Process Outsourcing, intermediary services (matchmaking, contracting) and HR consulting. More than 25 thousand professionals work for over five hundred clients in Europe, with which HeadFirst Group realizes an annual turnover of over two billion euros. The main brands of HeadFirst Group are the MSP (including intermediary services) labels HeadFirst, Between and Staffing Management Services, RPO and recruitment specialist Sterksen, IT talent sourcer StarApple and the Belgian HR technology company ProUnity.
About Impellam Group
Impellam Group is the holding company of a group of diverse, integrated labor market service providers in STEM talent (data, life sciences, tech & engineering), providing workforce solutions, talent management and recruitment and selection of professionals globally across various industry sectors and key end markets. Impellam Group's two main operating divisions provide the following services: 1) Global Managed Services ("GMS"): complete workforce solutions through multidisciplinary management of the overall talent process and 2) STEM: MSP, RPO, contracting, permanent employment and SOW workforce solutions focused on IT and digital specialists, data experts, scientists, clinicians and engineers. Impellam Group's divisions operate under several brand names, including Guidant Global and Comensura (GMS), as well as Carbon60, SRG, Lorien and Bartech (STEM).
On March 3, 2023, Impellam completed the sale of two previous operating divisions - Regional Specialist Staffing and Healthcare - allowing Impellam Group to now focus on its core GMS and STEM divisions, where the Impellam Board of Directors expects higher returns from attractive growth markets, significantly improved revenue visibility and improved conversions
Note to editors
Do you have any questions or comments in response to this press release? Please contact Bart van der Geest, spokesman at HeadFirst Group, at +31 (0)6 - 15 89 95 74 or bart.vandergeest@headfirst.nl. Or Kirsty Tranter, global head of communications at Impellam Group, at kirstytranter@impellam.com.
Supplemental Information
This announcement is for informational purposes only and is not intended to be - and does not constitute - an offer to sell or a solicitation of an offer to buy or subscribe for securities, or a solicitation of a vote or approval in any jurisdiction pursuant to the acquisition described above or otherwise. This announcement does not constitute a prospectus or a document equivalent to a prospectus.
Copies of this announcement and any formal documentation relating to the Acquisition are not, and may not, be directly or indirectly transmitted or otherwise forwarded, disseminated or sent in or into or from any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, and persons receiving such documents (including custodians, nominees and trustees) may not transmit or otherwise forward, disseminate or send such documents in or into or from such jurisdiction.
HeadFirst Group donates €70,000 to TechMeUp for equal employment opportunities
HeadFirst Group donates €70,000 to TechMeUp for equal employment opportunities
HeadFirst Group is committed to a better world beyond the job market. We are committed to improving the environment, nature and the lives of people around the world. A world in which equal opportunities and access to opportunities are a matter of course for everyone. As part of this, we have established - with pride - the 'HFG Foundation', led by colleague Thomas ten Veldhuijs.
Equal opportunities for all
This Foundation bundles our social initiatives, which include helping people in their careers and in life. We believe in equal opportunities for all and see it as our responsibility to contribute to a more just future. We do this by supporting initiatives that stem from our intrinsic motivation and active involvement.
Donation TechMeUp
Every year we set aside budget to donate to causes and initiatives that fit this purpose. Recently, we made a donation of a whopping €70,000 to the TechMeUp Foundation. This donation is intended to fund education in technology for students at a disadvantage in the labor market and to guide them to employment. The goal of this wonderful project is to support ten students through 2023. Once successfully placed in a job, they will repay the interest-free loan in installments, giving future students the opportunity to pursue a technology education as well.
This donation is a sign of our commitment to reducing the gap between social and cultural differences. Through education and opportunities for those distant from the labor market, we actively contribute to leveling these differences.
Want to know more about TechMeUp? Click here for more information.
Take the robot out of the human
Marijn van de Poel is managing director of Ciphix. This innovative company's mission is "Take the robot out of the human," he says. "With about sixty specialists, we automate as many routine tasks and cognitive decisions at our clients as possible. Using Hyperautomation technologies, such as Robotic Process Automation (RPA), Artificial Intelligence (AI), Process Mining and Low-code, we develop 'digital assistants' so that clients' existing employees can focus entirely on more important and interesting things."
"The latter is crucial. Everyone today is struggling with staff shortages, and that's precisely when it's a waste to have well-qualified employees spend time on repetitive work. People want to get to work on new challenges and customer requests, which stimulates and inspires them. When people spend less time on routine jobs, you keep the work fun and interesting and they continue to choose you. That's what Ciphix is betting on."
Balance between tech and touch
How that works, Marijn explains using the first digital assistants Ciphix introduced at HeadFirst Group: "HeadFirst Group handles tens of thousands of hiring transactions every year. A complex process with an application, publication, matching and finally a contract. With the help of the digital assistant, named Benthe, in 2022 we have, among other things, fully automated the reading of assignments. The process is flawless and much faster, while recruiters now have more time left over for the matching itself. It actually creates a better balance between tech and touch, as they call it at HeadFirst Group."
Streamer
"The process is error-free and much faster, while recruiters now have more time left over for the matching itself."
Bring human into the robot
"And we are already looking further together. Artificial intelligence, for example, makes it possible to analyze and interpret the data in applications and resumes faster and smarter, thus providing recruiters with better content support as well. It's just one of the possibilities and the great thing is that HeadFirst Group is completely in the lead. Our technical solutions help with what you want to achieve, but the organization itself has to have the mindset to want to work differently."
"By the way, why do we use real names? It's very deliberate because that way we make our solutions more recognizable and also bring a bit of the 'Human in the Robot.' New software with a techy name doesn't say much to most people. No one really likes SAP or Office, but everyone loves Benthe!"
Giant occupies an increasingly prominent place in our toolbox
HeadFirst Group collaborates with Intelligence Group in writing quarterly reports on developments in the permanent and flexible labor market; the Talent Monitor. In addition, the organizations exchange data on fixed and flex. HeadFirst also works with Giant, including the new Fixed and Flex feature.
The Permanent and Flex dashboard provides insight into flexible workers and compares them to permanent employees. This allows the user to formulate a Total Talent Acquistion strategy in minutes. The new dashboard compares recruitment feasibility; monthly salary/hourly rate; key pull factors and flex/zzp market share.
Why is HeadFirst using Giant and the new Fixed and Flex feature?
Bart van der Geest, Head of Marketing and Communications at HeadFirst Group, explains, "We have been working with Giant for about six months now. We are originally a service provider in the professionals segment in the flexible labor market, but within the group we have now also had solutions for permanent employment for years. We offer Total Talent Acquisition (TTA). At the same time, we are moving from a specialist in recruitment and compliance to a strategic partner where we really want to be a data-driven consultant for our clients. In both developments Giant fits perfectly.'
HeadFirst Group uses Giant for its own internal HR strategy, but also to better serve clients. 'We are moving from a specialist in recruitment and compliance to a strategic partner where we really are a data-driven consultant for our clients. We combine our large amount of proprietary data with external data from Intelligence Group, which allows us to offer unique insights that others cannot. We bring this to existing clients, but our bid management department also uses this data to concretely substantiate tenders and offers in tender processes.'
Van der Geest also relates the use of Giant to the purpose of HeadFirst Group: 'join the next world of work'. He sees three developments on the way to that new world of work: supply and demand will come together more online, work will take place more regardless of contract form (fixed or flex) and the labor market will become more inclusive, without prejudice. Intelligence Group's data helps, according to the marketer, because it provides more insights into the first development (online supply and demand) and enables fixed-flex movements in the market.
"We are moving from a specialist in recruitment and compliance to a strategic partner where we really are a data-driven consultant to our clients."
Bart van der Geest, head of marketing and communications at HeadFirst Group
Was it useful?
When recruiting new talent for HeadFirst Group itself, Giant helps determine which job boards and target-specific sites the target group uses, and which pull factors play a role, so HR colleagues can hone in on the job postings. "I found it very interesting to see what expectations the target group has of the whole job posting process, how many interviews they want, what feedback, so that we can formulate our recruitment process even better.
Van der Geest estimates that within HeadFirst about 10-15 people use the dashboard and that that number will grow. 'Giant is taking an increasingly prominent place within our toolbox.'
Source: Intelligence Group
Marjolein Slappendel new CFO HeadFirst Group
HeadFirst Group, the market-leading, international HR tech services provider, has appointed Marjolein Slappendel as its new CFO. Marjolein takes over from Jan-Pieter van Vreeswijk, who will focus on HeadFirst Group's internationalization and M&A strategy from his new role as finance & integration director. Marjolein takes over the direction of the group's financial activities.
Perfect match
With Marjolein Slappendel, HeadFirst Group brings in a very experienced and all-round CFO, with an impressive track record at Merrill Lynch, ING, Action and most recently as CFO of Temper. Marion van Happen, CEO at HeadFirst Group: "I am very pleased with Marjolein's arrival. With her experience in continuous improvement and her eye for opportunities to innovate and grow, she fits well in our energetic and high performing organization."
Marjolein: "HeadFirst Group is an ambitious and fast growing organization with very smart driven people. I am proud to be part of it. It is a wonderful challenge to be responsible for the further professionalization of the business units finance, operations, quality and legal in order to further strengthen the basis for our growth ambitions."
Sustainable growth
HeadFirst Group has grown significantly in recent years to become a market-leading HR-tech service provider in the Netherlands and abroad. With an increase of 600 million euros compared to 2021, of which more than 400 million was organic growth, the organization achieved a turnover of 2.2 billion euros for 2022.
In late 2022, IceLake Capital joined as a new investor in HeadFirst Group to further enable international growth. Marion said, "We aim to continue to grow in 2023 through the combination of successful services to our clients - both clients, suppliers and independent professionals - and targeted acquisitions that add value to our group. The organizational changes implemented are in line with this."
About HeadFirst Group
HeadFirst Group is a leading, international HR tech service provider and the largest platform for professionals in the Netherlands. The organization offers a diversity of HR solutions, such as Managed Service Providing, Recruitment Process Outsourcing, intermediary services (matchmaking, contracting) and HR consulting. More than 25 thousand professionals work for over five hundred clients in Europe, with which HeadFirst Group realizes an annual turnover of over two billion euros. The main brands of HeadFirst Group are the MSP (including intermediary services) labels HeadFirst, Between and Staffing Management Services, RPO and recruitment specialist Sterksen, IT talent sourcer StarApple and the Belgian HR technology company ProUnity.
HeadFirst Group strongest grower in Flex Market Turnover Ranking 2023
HeadFirst Group has again taken the second spot in the prestigious Flexmarkt Turnover Ranking Top-100 in 2023. In fact, with revenue growth in the Netherlands for the year 2022 of €298.8 million, the HR-tech service provider is, in absolute numbers, the biggest grower in the list. "The fact that we achieved this largely organically by successfully serving existing and new clients makes me very proud," said CEO Marion van Happen.
For the year 2021, HeadFirst Group still recorded a Dutch turnover of 1,627.2 million euros. In 2022, that rose to 1,926 million, a growth of over 18%.
Van Happen: "We are accelerating our digital transformation. By deploying tech smartly, we create that colleagues have personal contact at the times when it really adds value for our customers (clients, suppliers and professionals alike). In this way we are working towards the ultimate customer journeys with high customer satisfaction. This has already visibly borne fruit in 2022. In 2023 and the years after, we will continue full steam ahead with this strategy."
All annual figures
Earlier this year, HeadFirst Group presented its annual results, including foreign divisions, presenting record revenues of 2.2 billion. HeadFirst Group's annual report can be read and downloaded on the Investor relations page.
About Flexmarkt Turnover Ranking Top-100
The Flexmarkt Turnover Ranking Top-100 is a leading ranking of flex companies, from small to large, offering a variety of services in staffing and hiring. In addition to staffing agencies, it includes numerous payroll companies, as well as secondment companies, zzp intermediaries and MSP service providers. The list is published annually by Flexmarkt in cooperation with Corporate Finance International (CFI). In terms of turnover, it covers more than half of the total Dutch flex industry and thus provides a clear, representative picture of developments in the market.
HeadFirst Group presents record revenue of €2.2 billion
Over €400 million organic sales growth, gross margin of €63 million
HR-tech service provider HeadFirst Group has achieved revenue (gross billing value) of over 2.2 billion euros for 2022, with a gross profit of 63 million euros. This represents revenue growth of 38% compared to 2021, largely achieved organically through successfully serving existing and new clients. In 2023, the company continues its strategy, in which digitalization and international growth are two key pillars.
Organic growth and targeted acquisitions
Revenue of over 2.2 billion euros represents an increase of 600 million euros compared to 2021, of which more than 400 million (27%) is organic growth. In addition, HeadFirst Group made a number of targeted acquisitions: the Belgian HR tech company ProUnity, IT talent sourcers StarApple and StackOps, online recruitment platform OpenTalent and the platform for freelance services ZZP365. Marion van Happen, CEO at HeadFirst Group: "We had a successful year in all areas. We welcomed new clients and again helped more professionals - self-employed and employed by our suppliers - to valuable assignments. The new brands in our group found their place. And finally, as an employer, we were rated as a Great Place to Work."
Digital transformation
HeadFirst Group also aims to grow in 2023 through the combination of successful service delivery to its clients - both clients, suppliers and independent professionals - and targeted acquisitions that add value to the group. To enable HeadFirst Group's expansion in Europe - a key part of the strategy - IceLake Capital joined as a new investor in 2022. Van Happen: "We are accelerating our digital transformation with the goal of mixing technology and human touch in the most ideal way in our services. By deploying tech smartly, we create that colleagues have personal contact at the times it really adds value for our customers. With IceLake on board, we are going full speed ahead on that strategic line in 2023."
Van Happen continues: "Our purpose is: Join the next world of work. This new world of work is transparent, inclusive, increasingly technology-based and less fixated on the contract form. We are taking the lead in the journey to this next world and invite everyone around us to contribute to it."
More information
HeadFirst Group's annual report can be read and downloaded at hfgroup.headfirst.group/investor-relations.
About HeadFirst Group
HeadFirst Group is a leading, international HR technology service provider and the largest platform for professionals in the Netherlands. The organization offers a diversity of HR solutions, such as Managed Service Providing, Recruitment Process Outsourcing, intermediary services (matchmaking, contracting) and HR consulting. Every day more than 25 thousand professionals work for over five hundred clients in Europe, with which HeadFirst Group realizes an annual turnover of over two billion euros. The main brands of HeadFirst Group are the MSP (including intermediary services) labels HeadFirst, Between and Staffing Management Services, RPO and recruitment specialist Sterksen, IT talent sourcer StarApple and the Belgian HR-tech company ProUnity.
HeadFirst Group organizes knowledge session for SGP parliamentary party
HeadFirst Group organizes knowledge session for SGP parliamentary party
On Thursday, March 16, HeadFirst Group, in cooperation with our partner ONL voor Ondernemers, organized a knowledge session for the SGP parliamentary party. On behalf of the SGP, Chris Stoffer (MP) and Arnold van Huizen (policy officer) were present. In the past, HeadFirst Group has organized more knowledge sessions for MPs and policy officers. During the knowledge sessions we reflect on the services of HeadFirst Group and what role and added value an HR service provider has in the (flexible) labor market. In addition, we take the MPs and policy officers into relevant developments in the labor market regarding the zzp-dossier and which challenges and bottlenecks we experience in legislation and regulations. Besides a HeadFirst Group delegation, an independent professional and a representative of one of our clients were also present. They gave a short presentation on why they use our services as client and contractor and where the added value of HeadFirst Group lies for them.
All in all, it was a very successful session and we were able to provide the SGP Parliamentary Group with the necessary information and knowledge. We would like to thank our cooperation partner ONL voor Ondernemers for their hospitality and the attendees for their sharp questions and the discussion we had. Through this type of knowledge session, we try to put ourselves in the limelight as a professional discussion partner and make a valuable contribution to the labor market and self-employed workers file.
If you have any questions about our knowledge sessions as a result of this post, please contact Sem Overduin, Public Affairs Officer at HeadFirst Group. Sem can be reached at Sem.Overduin@headfirst.nl
HeadFirst Group expands collaboration with insurtech Alicia for self-employed workers in Belgium
HeadFirst Group brings its partnership with insurtech Alicia, specializing in embedded insurance for self-employed workers, to Belgium. The HR-tech service provider thus takes another important step in its further reaching strategy towards an international platform organization. Florine Onderwijzer, Managing Director Professionals & Partners services at HeadFirst Group: "Thanks to our solution, self-employed people in Belgium can now also start an assignment quickly and properly insured. "
Unburdening zzp'ers
The partnership builds on the ambition to offer support to professionals. Not only in finding challenging assignments, but also in optimizing their own business operations and making them as simple as possible. According to Marijn Moerman, CEO and co-founder of Alicia, this also includes taking care of the right insurances: "In addition to the flexibilization trend in the Netherlands, the number of freelancers in Belgium also continues to rise: last year by 7 percent to almost 200,000. At the same time, insurance coverage is declining. Zzp'ers are insufficiently familiar with the risks and finding appropriate insurance is a considerable search."
That, according to Onderwijzer, is exactly where Alicia makes a difference. "Together we have developed a scalable process for offering high-quality insurance products. Thanks to full digitization, there is more time for personal contact when it matters and we are also able to offer more comprehensive support to self-employed people outside our own borders. This next step in our cooperation thus fits perfectly with our international ambitions for our services for professionals."
On-demand and embedded solutions
In early 2022, HeadFirst Group and its platform Select joined forces with Alicia. It offers embedded solutions for relevant insurance and services that are made available in an integrated way through connected platforms using APIs.
All zzp'ers who are provided with assignments through HeadFirst Group can insure themselves for numerous topics at once, as part of the total package of services that HeadFirst Group has offered for years. "Our goal is to put together the most ideal package of services that professionals primarily need to be entrepreneurs and be able to focus fully on their core business. Through the collective purchasing advantage, self-employed people get attractive and flexible products at a lower price than if everything is purchased separately from different service providers."
