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Allen & Overy advises House of HR on the acquisition of pluss group

Allen & Overy has advised House of HR, the leading European service group active in the field of HR, on the acquisition of the German company pluss Personalmanagement GmbH, specialized in temporary recruiting in healthcare and social services.

With a turnover of EUR 157 million in 2022 and an EBITDA of more than EUR 9 million, pluss is a geographically widespread player in Germany, with 48 locations throughout the country. With House of HR’s support, the plan is to upscale to 55 locations this year. Pluss, headquartered in Hamburg, employs 470 people and is responsible for employment for over 3,000 people. Christian Baumann and Wolfgang Ungerathen stay on board as Managing Directors, as well as the full management. The acquisition is subject to the approval of the German competition authority.

With this add-on acquisition, House of HR becomes one of the biggest healthcare HR providers in the country, with the intention to become one of the market leading providers in the next few years in the DACH region. To that end, the collaboration with avanti and LD Personalvermittlung, two German providers of HR services that focus on the healthcare sector and were acquired by House of HR in 2021 and 2022, will generate synergies. By joining forces between avanti, LD Personalvermittlung and pluss, the company aims to grow further in the entire DACH region.

After the acquisitions of avanti in 2021 and of SOLCOM and LD Personalvermittlung in 2022, this is the fourth acquisition on which the Allen & Overy team led by M&A partner Dr Matthias Horn has advised House of HR in Germany on all aspects of the transaction, including setting-up of the acquisition structure as well as corporate law, competition, employment and tax law matters.

The Allen & Overy team was led by partner Dr Matthias Horn and senior associate Dr Matthias Taggeselle (both Corporate/M&A). The team further comprised partners Dr Heike Weber (Tax, all Frankfurt), counsel Dr Ioannes Thanos (Antitrust), senior associate Juliane Dieckmann-Keden, associates Christin Schlorf (all Hamburg), Florian Diehl (all Corporate/M&A), Dr Sven Gunkel (Pensions), Sören Rathjens (Tax), Hauke Jung (Real Estate, all Frankfurt), Merle Hermann (Employment) and Julius von Düring (Antitrust, both Hamburg) as well as senior transaction officer Laura Thiel (Corporate/M&A, Frankfurt).

House of HR’s inhouse team comprised Delphine Vandenabeele (M&A Legal Counsel) and Ward Stubbe (M&A).