Zurich, Switzerland, 3 January 2020: The Adecco Group, the world’s leading HR solutions partner, announces the successful completion of its pestment of Soliant Health to Olympus Partners.
Having received all necessary regulatory approvals, the Adecco Group has successfully completed the pestment of its US healthcare staffing business, Soliant Health, to Olympus Partners for a cash consideration of USD 612 million (EUR 551 million). The transaction will result in a gain on sale to be recognised in the Group’s Q4 & FY 2019 results.
The sale is part of the Adecco Group’s strategy to concentrate on globally scalable brands and digital solutions.
As previously communicated, the Group will provide an update on the use of proceeds, in line with its capital allocation policy, with the release of the Q4 2019 results on 26 February 2020.
J.P. Morgan Securities LLC acted as exclusive financial advisor to the Adecco Group on the transaction.