Recruiter Adecco in US swoop

Recruiter Adecco has snapped up General Assembly in a deal that values the American training business at $412.5 million (£289m).

Zurich-based Adecco – which employs 3,000 people across its UK and Ireland division – said the stateside acquisition would position it as a leader in the “fast-growing upskilling/re-skilling” employment segment.

Adecco chief Alain Dehaze said: “Our clients are looking for partners to improve access to scarce 21st-century skills and help navigate workforce transformation. Demand for digital skills is growing but supply remains constrained.”

Dehaze cited data from the Mckinsey Global Institute that claims up to 375 million employees worldwide will need to transition into new roles by 2030 due to the rise of automation.

“By offering General Assembly’s services alongside the group’s existing talent development, career transition and professional staffing solutions, we will be able to better respond to these client needs, enhancing both access to and the supply of the most in-demand skills,” he added.

General Assembly was founded in 2011 and made revenues of $100m in 2017. It provides training in areas including tech, data, design, and business.

Under its new owner, General Assembly will operate as a separate division within the Adecco Group under the leadership of its existing chief executive Jake Schwartz.

Schwartz said Adecco brought “a multitude of strategic opportunities to serve enterprise clients, solve pervasive digital skills gaps, and align our offerings with the world-class brands that comprise the Adecco Group network”.