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Adecco acquires Knightsbridge Human Capital Solutions

March 11, 2015

Adecco Group today announced its acquisition of Canada-based Knightsbridge Human Capital Solutions for an enterprise value of $C80 million.

Knightsbridge, a human capital solutions firm, will join Lee Hecht Harrison, Adecco’s outplacement business. The transaction is expected to close in the second quarter and the combined organization in Canada will be co-branded with both the Lee Hecht Harrison and Knightsbridge names.

Adecco plans to retain most of Knightsbridge’s executives in the combined organization. Decisions regarding the combined Knightsbridge and Lee Harrison Canada office footprint will be made after the acquisition closes.

The acquisition includes Knightsbridge’s career transition, talent and leadership development, and executive search and recruitment operations. Axsium, a Knightsbridge subsidiary that offers workforce management solutions, will spin off into a separate company and is not being acquired.

Knightsbridge had revenues of $C56 million in 2014, excluding its former subsidiary Axsium.

“Knightsbridge joining forces with Lee Hecht Harrison will significantly benefit the clients of both organizations in Canada and around the world,” said Peter Alcide, president of Lee Hecht Harrison. “Companies today seek to partner with organizations that can globally deliver world-class talent development and career transition services seamlessly and consistently. The combined organization in Canada will be co-branded and will enhance the market-leading services we offer companies to ensure they are best optimizing their talent.”

Lee Hecht Harrison, a wholly owned subsidiary of Adecco Group, counts 350 offices in 64 countries, serving over 7,000 client firms and 200,000 candidates annually. In 2014, Lee Hecht Harrison had global revenues of €334 million.

Knightsbridge was founded in 2001 and currently has 14 offices.

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