Düsseldorf – Wrocław-based Work Service Group has established a new joint venture for the German market with the international Fiege Group of Greven. The new company will comprise the three German Work Service firms and Fiege subsidiaries Fiege uni/serv GmbH and FIEGE worksess GmbH. The transaction is currently awaiting approval from the competition authorities.
An international team of CMS drawn from its offices in Düsseldorf, Cologne, Warsaw and Vienna advised Work Service on all legal aspects of the project over an extended period. Dr Dirk Jannott acted as lead partner in Germany. The team also included employment law experts Dr Angela Emmert and Dr Alexander Bissels with their special expertise relating to the supply of temporary workers.
Fiege Logistik Stiftung & Co. KG will hold a 49% stake in the joint venture, while Wrocław-based Work Service S.A. Capital Group will have a 51% interest. The newly formed company aims to be a leading employment service provider in the German market.
Listed company Work Service S.A. is one of the biggest service providers for personnel recruitment and management in Central and Eastern Europe, with more than 2,200 clients. PineBridge Investments has held an equity interest in the company since 2013. Fiege is one of Europe's largest logistics providers; in 2012 the Group generated worldwide sales of EUR 1.5 billion with 11,000 employees. Fiege uni/serv and FIEGE worksess were established in 2002 as specialists in personnel logistics for the retail and logistics industries. The German Work Service companies Work Service 24 GmbH, Exact Systems GmbH and IT Kontrakt GmbH specialise primarily in serving banks, insurance companies, IT firms and companies in the car industry. The new joint venture is intended to bring together the services and client sectors while remaining the preferred partner for the Fiege Group's temporary employment requirements in Germany.
CMS Hasche Sigle
Dr Dirk Jannott, Lead Partner
Paul Rode
Dr Nadine Bodenschatz, all M&A / Corporate
Philipp Schönnenbeck, Real Estate
Dr Dietmar Rahlmeyer, Competition
Dr Thomas Hirse, Commercial
Dr Angela Emmert
Dr Alexander Bissels
Caroline Wirtz, all Employment
CMS Cameron McKenna (Warsaw)
Jakub Lerner, M&A
Michal Derdak
Karolina Matuszewska, both Competition
CMS Reich-Rohrwig Hainz
Prof. Johannes Reich-Rohrwig
Dr Georg Burger-Scheidlin, both Corporate
Press Contact
presse@cms-hs.com
