WHC Group acquires majority stake in Heads Adriatic
Image by Headsadriatic.com
WHC Group, a 100% Hungarian-owned company, has acquired a majority stake in Heads Adriatic, one of the leading HR service providers in the Adriatic region, according to a press release sent to the Budapest Business Journal.
WHC Group, founded in 1990 in Zalaegerszeg, Hungary, now provides complex HR services in 10 countries including Hungary. Thanks to the acquisition, the Hungarian company is now one of the largest players in the industry in Central Europe.
WHC has been actively building up its presence abroad for years, and in addition to its network of 11 Hungarian offices in Hungary, it now also operates its own subsidiaries and local branches in Austria, Serbia, Slovakia, and Ukraine. Thanks to the recent international acquisition, WHC Group has now entered the market in five more countries: Bosnia and Herzegovina, Northern Macedonia, Croatia, Montenegro, and Slovenia.
"The acquisition of a majority stake in Heads Adriatic is a major milestone in the life of WHC Group. This transaction is a huge boost for our international expansion, as we are entering five new regional markets at the same time. Our aim is to maximize synergies between the two companies and pool our resources. This will give us a better chance to participate in international tenders and to serve an even wider range of international partners. Our recruitment area will be extended with more countries, which will enable us to serve the labor needs of Hungarian companies even more efficiently, and we also aim to serve the labor needs of investments in Central Europe," said Péter Berta, CEO of WHC Group.
The scope of activities of WHC Group and Heads Adriatic is almost identical. Both companies mainly provide services in the field of temporary employment and recruitment but also their activities also include student employment, HR outsourcing, and payroll services.
Founded 20 years ago, Heads Adriatic is present in six countries in the Adriatic region (Bosnia and Herzegovina, Northern Macedonia, Croatia, Montenegro, Serbia, Slovenia), where it operates a total of 15 offices. The company's latest annual turnover was EUR 55 million.
Thanks to the acquisition, the two companies have about 6,500 employees on lease and 500 internal staff.
"Heads Adriatic has long been a dominant player in the Adriatic region. It is a well-established brand, a popular and reliable partner for companies in the region. The acquisition by WHC Group is a huge opportunity for both companies, as it allows us to pool our resources and mutually secure access to each other's markets. In addition, we will be able to exchange know-how and experience and provide both WHC and Heads Adriatic colleagues with an exciting and challenging international career opportunity," said Marko Kolenc, managing director of Heads Adriatic.
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