Gimv takes a 33.33% stake in Accent Jobs For People

17-10-2006 17:45

GIMV announces the acquisition of a 33.33% stake in the Belgian company Accent Jobs for People from existing management. Management retains the remaining 66.66%. Accent Jobs for People is one of Belgium's fastest temping agencies.

Accent Jobs for People (www.accent.be) was set up in 1995 by Philip Cracco and Conny Vandendriessche. Over a period of 10 years this dynamic growth company has acquired a strong position on the Belgian temping market, making a name for itself by careful candidate selection and by its extensive service provision. Accent Jobs for People is headquartered in Roeselare. With 250 employees it operates 67 offices across Belgium and 2 in the Netherlands. 80% of these offices serve the white collar sector and 20% provide blue collar workers. Sales of EUR 67.1 million in 2005 place Accent Jobs for People among the Top 10 Belgian temping agencies. For 2006 it expects sales in excess of EUR 85 million.

With a yearly organic growth of 26% between 2000 and 2005, Accent Jobs for People is one of Belgium’s fastest growing temping agencies. Accent Jobs for People's activities are currently concentrated in West and East Flanders and in Antwerp. The company is looking to grow further in Belgium and to extend its international expansion in the Netherlands and to France.

GIMV is taking a 33.33% stake. Kris Van Look, Executive Investment Manager GIMV, explains the investment: “We believe strongly in Accent Jobs for People’s further growth. We intend to support the company’s expansion in Europe with GIMV's input and experience. GIMV’s international network is a big plus which we will use to the full in Accent Jobs for People’s buy-and-build strategy.”

“We are very pleased with GIMV as our new shareholder. GIMV represents for us an extremely valuable partner especially with a view to our further Belgian and International expansion. Moreover GIMV guarantees the independant character of Accent Jobs for People,” adds Philip Cracco, CEO Accent Interim.

For more information, please contact:                                                                                                                                        

Mr. Frank De Leenheer – Investor Relations Manager GIMV
Tel: +32 3 290 22 18 – E-mail: frankdl@gimv.be                                                                                                               

Mr. Kris Van Look – Executive Investment Manager GIMV Corporate Investment Belgium
Tel: +32 3 290 21 17 - E-mail: krisvl@gimv.be

Dutch version - French version