P+P advises TimePartner's shareholders on acquisition by House of HR
In 2015, TimePartner had approximately EUR 260 m in annual turnover and currently employs 370 advisors and agents in 120 branches across Germany. It is thereby already one of the top 10 German temporary employment agencies. Calculated on a full-time, daily basis, there are now over 7,500 workers, staff and highly specialized experts in the aviation and engineering sectors who serve the clients of the corporate brands TimePartner, InhousePartner, AERO High Professionals and IBB Konstruktionsdienstleistung (Engineering Services).
The parties have agreed to keep the purchase price confidential; the competent authorities must still approve the acquisition. Closing of the transaction is expected to take place at the end of the year.
The management team of TimePartner and Sven Kilian and Thorsten Droste again hold an interest in the group. Together with Auctus Capital Partners, the two managing partners first acquired TimePartner in 2014 in the course of a management buyout.
P+P Pöllath + Partners advised Sven Kilian and Thorsten Droste with the following team:
- Dr. Benedikt Hohaus (partner, lead, M&A/PE, Munich)
- Dr. Tim Kaufhold (counsel, M&A/PE, Munich)
- Dr. Nico Fischer (counsel, tax, Munich)
- Dr. Jens Linde (counsel, financing, Frankfurt)
P+P Pöllath + Partners had already advised the managing partners Kilian and Droste in October 2014 on the management buyout
