Private equity firm Kohlberg Kravis Roberts & Co. announced plans to buy the staffing subsidiary of Tokyo-based Usen Corp.
KKR said it will pay 32.5 billion yen ($356 million).
The Usen subsidiary, Intelligence Ltd., provides direct hire, temporary staffing and outsourcing as well as job-search advertising. It operates the Doda brand in Japan. Intelligence has the second-largest market share in direct hire staffing in Japan, according to KKR.
“As one of the few recruitment services firms in Japan providing such a comprehensive offering, [Intelligence] is well positioned to take advantage of an anticipated upturn in economic activity,” said Shusaku Minoda, managing director of KKR and CEO of its Japan operations. “Further growth of the recruitment sector is also expected as a result of the evolving human resource needs of companies, as well as increased mobility of domestic and international labor markets due to growing awareness of career development opportunities.”
The deal is expected to close in July.
Usen ranked No. 41 on Staffing Industry Analysts’ 2009 list of the largest global staffing firms. Usen is a cable broadcaster and media content provider.
Filed by Staffing Industry Analysts, a sister company of Workforce Management. To comment, e-mail firstname.lastname@example.org.