Quess enters into agreement to acquire Randstad Lanka
Bangalore October 26, 2015: Quess Corp Ltd (Quess), India’s Leading Integrated Business Services provider, today announced the signing of a definitive agreement to acquire Randstad Lanka Pvt Ltd (Randstad Lanka) from Randstad India Private Limited, subject to statutory and regulatory approvals.
Headquartered in Colombo, Randstad Lanka is a HR services company providing recruitment and staffing services in Sri Lanka. With a workforce of over 400 employees and presence across Sri Lanka, Randstad Lanka is a leading provider of workforce solutions. The company services several marquee clients, including Sri Lankan operations of several Fortune 500 clients.
This acquisition will strengthen Quess’s position as a leading provider of integrated HR solutions across staffing, permanent recruitment, executive search and RPO marks the emergence of Quess as India’s first MNC in the HR services space. Post this acquisition, Quess will have presence across eight countries with a strong presence in the Asia Pacific.
Speaking on the acquisition, Ajit Isaac – Chairman and MD of Quess said, “We welcome the employees of Randstad Lanka to Quess. The company has a strong presence in Sri Lanka where we expect to see rapid growth in the future. This transaction will strengthen our position as a leading Pan Asian player serving clients across South Asia, Middle East and South-East Asia.”
The acquired business will continue to benefit from a long term, financially strong shareholder since Quess Group is an investee company of Fairfax Financial Holdings, held through its Indian listed subsidiary, Thomas Cook India Ltd.