Key Takeaways
- Eurofirms acquired Job & Talent, Avanza Externalización de Servicios, Avanza.
- Sector: Business Services.
- Geography: Spain, Portugal.
Analysis
Eurofirms Group, a prominent human resources firm headquartered in Cassà de la Selva, Girona, has significantly expanded its outsourcing division through the strategic acquisition of Avanza Externalización de Servicios. This move, finalized in the spring, integrates a company that generated €72 million in revenue last year, effectively doubling the scale of Eurofirms' service provision arm.
Avanza, previously the dedicated outsourcing arm of the tech-driven employment services group Job & Talent, brings substantial operational capacity and market presence. Job & Talent, a Spanish tech unicorn founded in 2009, had acquired 100% of Avanza in 2021 for €9.36 million. Now, Eurofirms assumes full ownership of the Madrid-based entity, which reported €73.2 million in revenue and €1 million in net profit for the 2024 fiscal year.
The acquisition positions Eurofirms to strengthen its foothold in key strategic segments, particularly retail and B2B marketing. Avanza currently serves approximately 50 active clients across Spain and Portugal, a market where Eurofirms already boasts a significant presence. This expansion aligns with Eurofirms' broader objective to enhance its outsourcing capabilities and offer more specialized, high-value solutions to a global clientele.
Anna Golsa, CEO of Eurofirms Group, oversees a company that surpassed €700 million in revenue last year, marking a 13% increase from the prior period. The integration of Avanza is expected to drive further double-digit revenue growth for Eurofirms in the current year. The company, founded in 1991 and led by Chairman and owner Miquel Jordà, operates an extensive network of 170 offices across Spain, Portugal, Italy, France, Chile, Brazil, and Peru, with its core business rooted in temporary staffing solutions.
To spearhead the enhanced outsourcing division, Eurofirms has appointed Jaime de Barrio, a professional with a background in digital transformation consultancy from Excelia. De Barrio expressed confidence in Eurofirms' capacity for further inorganic growth on a global scale, emphasizing the strategic importance of this acquisition in consolidating the company's position as a leading partner in the outsourcing sector.
The Spanish outsourcing market, a segment of the broader business services industry, has seen consistent growth driven by companies seeking to optimize operational costs and focus on core competencies. With Avanza's established client base and revenue stream, Eurofirms is well-equipped to capitalize on these market dynamics. This transaction underscores the ongoing consolidation trend within the HR services sector, where strategic acquisitions are key to achieving scale and competitive advantage.