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Poland – Devonshire’s Polish and Germany businesses acquired by Polish Hedge fund

17 October 2016

The venture capital funded Devonshire Investment Group (DIG) has announced that it has purchased the German and Polish assets of Devonshire, a UK-based recruitment consultancy, from RR Donnelley at the beginning of September with a goal to merge it with two other recruitment assets.

The deal is expected to close by the end of the month, following the completion of customary closing conditions. Terms were not disclosed.

The DIG is co-funded by OPOKA Ventures, a Polish specialised private equity fund.

The Devonshire brand that was established in 2001 in CEE (Central and Eastern European) region will remain for a transition period during the integration with VLOG, a Polish IT Contracting company, as well as CERN, an engineering permanent staffing firm. After the merger, the companies will comprise of 70 consultants with 300+ outsourced IT& Engineering contractors and will operate from 4 offices in Poland and 2 in Germany.

Michal Mlynarczyk will lead the new venture as CEO of Devonshire Investment Group. He said:
 “We want to serve our customers with a full scope of specialist recruitment and contracting services in all major European geographical areas”. 

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