As a result of the acquisition, WHC becomes one of the largest HR service providers in Central Europe
Budapest, 22nd March 2022 – Hungarian-owned WHC Group has acquired a majority stake in one of the leading HR service providers of the Adriatic region, namely Heads Adriatic group of companies. Due to the transaction, WHC Group, founded in 1990 in Zalaegerszeg, provides complex HR services in a total of ten countries, including Hungary. As a result of the acquisition, WHC becomes one of the largest players of the industry in Central Europe, with about 6,500 leased and 500 internal employees.
WHC Group, founded in 1990, has become one of the largest Hungarian-owned HR service providers in Hungary, thanks to its continuous growth and development for more than three decades. Following nearly a year and a half of preparation, the Hungarian company has acquired a majority stake in one of the leading HR service providers of the Adriatic region, namely in Heads Adriatic.
In addition to its domestic activities, WHC has also been building an active foreign market presence for years, so besides its network of eleven regional offices in Hungary, the company operates its own subsidiaries and local branches in Austria, Serbia, Slovakia and Ukraine. As a result of the current international acquisition, WHC Group will enter the market of five new countries: Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia and Slovenia, thus, the group can be now considered as one of the largest HR service providers in Central Europe.
“In Hungary, similarly to economic growth, employment rate sets records. The government is continuously working to help more people to find their success in the domestic labour market. WHC Group is an important ally of the Ministry for Innovation and Technology, a strategic partner in strengthening the work-based economy and society. The joint working group of the Ministry and the company regularly discusses options for further improvement of the employment situation. Following the international expansion and transforming into a multinational company, the Hungarian-owned enterprise has up-to-date information and can form a realistic picture on the development of regional processes. I sincerely hope that together we can continue to use their proven competitive expertise for the benefit of domestic employees,” highlighted László Palkovics, Minister for Innovation and Technology.
“The acquisition of the majority stake in Heads Adriatic is a huge milestone in the life of WHC Group. With this transaction, our international development gains a huge boost as we enter five new regional markets simultaneously. Our aim is to make the most of the synergies between the two companies and unify our resources. This will allow us to participate in international tenders with improved chances and to serve our international partners even more widely. Our recruitment area is expanding with several countries therefore we will be able to serve the labour-force needs of Hungarian companies even more efficiently. Moreover, our further goal is to serve the investments coming to Central Europe from human resources side as well,” said Péter Berta, CEO of WHC Group in connection with the transaction.
6,500 people employed on lease, 500 own internal co-workers
The scope of activity of WHC Group and Heads Adriatic has tremendous synergies. Both companies provide services primarily in the field of temporary employment and recruitment, besides that, student employment, HR outsourcing and payroll accounting belong to their main services.
Heads Adriatic, founded 20 years ago, is present in a total of six countries in the Adriatic region (Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Serbia and Slovenia), in which it operates a total of 15 offices. Last time the company had an annual turnover of 55 million EUR.
As a result of the acquisition, the joint employment of the two companies amounts to 6,500 employees on lease, and 500 internal employees.
“Heads Adriatic has long been a prominent market player in the Adriatic region. A well-established brand, a favoured and reliable partner for companies in the region. The acquisition, implemented by WHC Group, is a huge opportunity for both companies, as we can unify our resources and mutually provide each other with access to each other’s markets. In addition, sharing the know-how and exchanging experiences will be extremely useful and we can provide exciting and challenging international career opportunities for colleagues of both WHC and Heads Adriatic,” highlighted Marko Kolenc, CEO of Heads Adriatic.
About WHC Group
WHC Ltd. was established in 1990 and has grown to be one of the most dynamically developing companies specialized in HR services in Hungary. Continuously expanding its activities, the company now runs 12 domestic offices and subsidiaries in 4 neighbouring countries, providing full-scale HR services, such as temporary agency employment, recruitment, student-, and pensioner employment, parental leave cooperation, HR outsourcing and payroll services. WHC covers the whole country with its activities and serves 400+ partners and offers 600+ open positions. WHC aims to connect players of the job market. It provides companies with work force and high-quality, innovative HR services, to help them achieve their objectives. WHC offers rapid help to job seekers so that they could find the job which perfectly fits them. The company is proud of being acclaimed with Best Employers Award by Kincentric in 2021 fourth time in a row.
For further information, please contact:
Jakab Dávid
Head of Government Affairs
WHC Ltd
+36706099369
david.jakab [at] whc-group.com