Randstad to acquire Sageco and become market leader
Randstad announced on Wednesday 23 November that it has signed an agreement to acquire 100 percent stake in Sageco, a leading provider and expert in career transitions in Australia and New Zealand.
Sageco provides specialised solutions for workforces facing organisational change due to redeployment, redundancy, retirement, role and leadership changes. Sageco has deep expertise in career, mature age and executive transitions and has a national presence in 10 locations across Australia and New Zealand.
The acquisition is part of a broader Randstad strategy of becoming the leading global player in the outplacement industry. In fact, Randstad’s aggressive move started in 2015 with the acquisition of RiseSmart, a US-based market leader in innovative, technology-driven outplacement services. This announcement further strengthens Randstad’s position in Australia and New Zealand in the outplacement and career transition sector, where they have been providing services for over 25 years.
Frank Ribuot, CEO of Randstad Australia & New Zealand says, “This acquisition further underscores our commitment to becoming the outplacement market leader in all regions of the world. It strengthens our sourcing, onboarding, and talent management portfolio and reinforces our position as the leading HR partner across the entire talent lifecycle.”
“Bringing Randstad’s and Sageco’s industry expertise and local market connections together with RiseSmart’s sophisticated technology gives our customers best-of-breed, highly-differentiated solutions. It provides comprehensive, progressive career transition and outplacement alternatives that are focused on results, not just the journey.”
Alison Monroe, who will take up the role of National Director, Australia New Zealand for the new Sageco, says, “With this acquisition, we bring together Sageco’s holistic approach, RiseSmart’s innovative technology platforms and Randstad’s experience and global reach. The new Sageco will no doubt be a force and market leader in Australia and the Asia Pacific region.”
“Since 2003, Sageco has guided and inspired organisations and individuals through change. We are excited about the expanding opportunities that lie ahead to transform career experiences of people of all ages and stages in their life – to create a positive future. I look forward to leading our clients and our team through this transition.”
As of completion, which is expected to take place on 31 December 2016, Sageco will be renamed Sageco, a RiseSmart company. The Randstad outplacement and Sageco transition teams will merge under the Sageco brand – incorporating RiseSmart technology solutions in Q1 2017.