Talent announced the acquisition of Wellington-based recruitment agency, People&Co on Thursday 2nd November. The strategic move heralds Talent's bolstered commitment to its expansion within the New Zealand market. This significant acquisition comes hot on the heels of an exceedingly prosperous financial year for Talent, which reported a gross margin surpassing $100 million, and an impressive increase in EBITDA by over 10%, reaching $27.5 million.
The acquisition of People&Co not only supports Talent's growth in its core recruitment business but paves the way for the company to extend its project delivery, automation and data consultancy business, Avec. Mark Nielsen, Global CEO at Talent, emphasised the strong synergy in business vision and cultural alignment between both firms. He stated, "When the opportunity to acquire People&Co arose, we believed it would be a great fit for Talent. In addition to significant growth potential, we recognised a strong affinity in terms of culture and vision between the two organisations, and our shared commitment to the New Zealand market."
Sam Collins, Managing Director at People&Co, will continue his leadership role as part of the Talent Group and will be in charge of expanding Avec's operations in New Zealand. About this new phase, Collins remarked, "It's a new era for the People&Co brand and for me personally. We are excited about the opportunities Talent and Avec will deliver for our sales team and our customers, candidates and contractors. Our culture that we have built is aligned with Talent's, which was a non-negotiable, and we resonated with the growth mindset of the leaders and their teams."
Kara Smith, Talent's New Zealand Country Manager, expressed her excitement, "We are incredibly excited about the acquisition of People&Co. Talent's commitment to further expanding and investing in Aotearoa is an exciting time for all our team members, clients, candidates and contractors, and this growth begins a new chapter for us." Smith, along with Collins, will work closely with Talent Wellington's Managing Director, Nik King-Turner, Talent's Global CEO, Mark Nielsen, and the wider Talent team, concentrating on the growth of the New Zealand arm of the company.
As a proudly Māori-owned organisation, People&Co is a recognised member of the All-of-Government (AoG) External Recruitment and Consultancy panels. Serving through their co.star brand, they provide OD, HR, and business consulting to individuals and organisations aspiring for significant change or results.