GI Group, one of the largest staffing firms in Italy and the 18th-largest in the world, is entering the US market with the acquisition of the outplacement operations of Los Angeles-based CareerArc.
The deal closed June 30, the company announced today. CareerArc provides outplacement via a digital solution and has more than 100 career consultants.
“With the acquisition of CareerArc Outplacement, we are entering, for the first time in our history, into a strategic market like the United States, the largest in the world for the HR sector,” said Stefano Colli-Lanzi, CEO of GI Group. “Entering into the North American market is in line with our development plan and further consolidates our role as a global player, aiming to reach €6 billion (US$6.8 billion) in turnover in 2023.”
GI Group provides outplacement services in Europe with its Italian brand Intoo.
Also, the GI Group reported today that 2019 revenue was €2.6 billion (US$2.9 billion), an increase of 13% from 2018.
More than half its revenue, 52%, came from Italy, but 28% came from Western Europe and 10% came from China and India.
GI Group operates in 29 countries; that number goes up to 57 when including partnerships.