House of HR publishes results for 2022
House of HR, the leading European HR service provider, is closing its fiscal year with a like-for-like turnover growth of 16.4%. Following 16 acquisitions in 2022, the group anchored itself further in Belgium, France, Germany, and The Netherlands.
House of HR reports 16 acquisitions and close to € 3 billion turnover in 2022
Under Bain Capital’s wings, the leading HR company plans to grow and specialize even further.
Roeselare, 4 April 2023 – House of HR, the leading European HR service provider, is closing its fiscal year with a like-for-like turnover growth of 16.4%. Following 16 acquisitions in 2022, the group anchored itself further in Belgium, France, Germany, and The Netherlands. With Bain Capital as a majority shareholder since November 2022, House of HR plans to continue its growth path, driven by organic growth and targeted M&A. Its decentralized structure and focus on local entrepreneurship allow its PowerHouses (subsidiaries) to remain autonomous and provide a specialized service to their local markets and candidates. Rika Coppens, CEO: “Our decentralized and entrepreneurial structure is the key to our success. We will continue to look for new opportunities to extend our offering in order to grow our community of Happy Rebels.”
In 2022, House of HR established itself as a leading European HR service provider during uncertain economic times. Thanks to strategic acquisitions and a clear vision of the future, House of HR was able to upscale its pro forma turnover to almost €3 billion in 2022 (a growth of 16.4%), with a pro forma management adjusted EBITDA of €349 million. The leading European HR service provider ranks 23rd on the global staffing list SIA (Staffing Industry Analysts) and provides jobs to more than 70,000 people monthly throughout Europe. House of HR has 5,338 internal employees. These Happy Rebels, as they proudly named themselves, catered 34,543 customers in 2022.
Bain Capital as a new majority shareholder and 16 acquisitions
Since 4 November 2022, Bain Capital Private Equity officially is the majority shareholder of House of HR, with a 55% stake in the company. The completion of the deal marked the biggest ever buy-out by private equity in Belgium and was a remarkable milestone for House of HR. Under Bain’s wings, House of HR plans to continue its growth path, based on strong organic growth and targeted M&A in existing and new markets. The year 2022 sets an impressive benchmark for that, with House of HR completing a total of 16 acquisitions in four countries (Belgium, France, Germany and The Netherlands): ABMI, Agium, Atrium*, BE-Consult, Bis People, FID uitzendbureau, LD Personalvermittlung (DOCSTR), Sira Consulting, SOLCOM, StaffMe, TMI, Vijverberg, and four assets deals with Agathos, Ambulancezorg+, Job Raccoon and Sociaal.nl . House of HR also made a promising start towards further expansion in 2023, acquiring German company pluss in February. This makes the group one of the biggest providers of healthcare services in Germany.
Rika Coppens, CEO at House of HR: “We aimed to specialize even further in the IT and healthcare markets. We, therefore, acquired companies such as SOLCOM (specializing in IT services) and TMI, LD Personalvermittlung and pluss (specializing in healthcare services). We want to continue growing in these segments, but also extend our offering in the years to come in engineering, finance and consulting and technical markets. In terms of geographies, we remain active in Benelux but also want to get stronger in Germany and France and maybe even add an additional country to our portfolio.”
Decentralized strategy with a focus on entrepreneurship
House of HR has a multi-brand, decentralized strategy that stimulates local entrepreneurship to serve specialized markets. Presenting its services in two segments, Engineering & Consulting and Specialized Talent Solutions, allows the group to be one of the most growth-focused and profitable platforms in the world. Each subsidiary (PowerHouse or Boutique Brand) within these segments keeps its own autonomy and area of expertise, being actively supported by the Group in terms of best practices, digital capabilities and compliance in order to continue their own growth ambitions. This is a key factor in House of HR’s renowned entrepreneurial spirit.
Rika Coppens: “Our structure, with PowerHouses and Boutique Brands, allows us to focus on serving specific industry segments and/or candidate profiles with different brands. Every company under our wings maintains its autonomy, expertise, and specialized approach to customers and candidates. And this decentralized structure works. In 2023, we will continue to look for new opportunities to invest in companies that can complement our offering while further specializing, so that we can grow our community of Happy Rebels and more happy people at work.”
All of House of HR’s employees together for the first time
As well as being a successful business year, 2022 was also the first time ever that all of House of HR’s internal employees were able to gather in one location. In September, the company organized a gigantic music festival in Eindhoven, welcoming all its Happy Rebels. The aim was to thank everyone for their dedication and their contribution to the significant growth of the past years. House of HR also wanted to set an example with the festival, to inspire companies to continue investing in people and job satisfaction in economically challenging times.
And for House of HR’s CEO Rika Coppens, this is just the beginning: “House of HR is now seen as a European-wide organization that is an example for other companies – not only because of our results, but also because of the way in which we are organized and how we want to fulfill our role in society, for example by launching open-minded hiring in Belgium. That is a mission we have worked very hard on, and we cannot thank our Happy Rebels enough to help build this reality. We believe in the power of our people, in giving them ownership and accountability. This way, we can create magical things.”
*In March 2023, Atrium was sold again by House of HR.
End of press release.
About House of HR
House of HR is a leading provider of HR solutions in key European staffing markets, offering end-to-end temporary recruiting and outsourcing services. Headquartered in Roeselare (Belgium), the group supplies specialized and niche staffing primarily to small and medium-sized enterprise clients through its two segments, Engineering & Consulting and Specialized Talent Solutions. These are each composed of multiple PowerHouses that together represent more than 50 Boutique Brands to promote their specialized HR solutions offerings.
The Engineering & Consulting segment supplies staffing of highly skilled professionals, such as engineering consultants and financial and insurance specialists, to fill specialized roles in a variety of end markets. The Specialized Talent Solutions segment supplies specialized staffing of high-demand mid-skilled workers for specialized positions, such as clerical positions, carpenters and machine engineers, as well as blue-collar workers to companies in various sectors, including construction, retail, finance, food and healthcare. The group also offers digital recruiting through its dedicated platforms, using its digital tools, including NOWJOBS, SWOP and the Gighouse app.
For 2022 the pro forma turnover lands close to ~€3 billion with a pro forma management adjusted EBITDA of €349 million. The group provides work to more than 70,000 people every month and has 5,338 internal employees spread over 793 branches in Europe. House of HR is a ‘Talent PowerHouse’ with a strong emphasis on entrepreneurship, digitalization and innovation, but always with a distinctive, human touch. In November 2022, Bain Capital Private Equity became the majority shareholder in the group, with a 55% stake.