Kelly Services, Inc. (NasdaqGS:KELY.A) entered a definitive agreement to acquire Motion Recruitment Partners, LLC from Littlejohn & Co., LLC for approximately $490 million.
May 02, 2024
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Kelly Services, Inc. (NasdaqGS:KELY.A) entered a definitive agreement to acquire Motion Recruitment Partners, LLC from Littlejohn & Co., LLC for approximately $490 million on May 3, 2024. As a part of consideration, Kelly Services, Inc will pay $425 million in cash and additional earnout potential of up to $60 million based on certain performance criteria. The Company expects to fund the transaction through debt and available capital, including the rapid redeployment of more than $100 million from the sale of Kelly?s European staffing operations in January 2024.
The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the second quarter of 2024. Houlihan Lokey, Inc. (NYSE:HLI) acted as a financial advisor and Jasso Lopez PLLC acted as a legal advisor to Kelly Services, Inc. Robert W. Baird & Co. Incorporated acted as a financial advisor and Baker & Hostetler LLP acted as a legal advisor to Motion Recruitment Partners, LLC.
Kelly Services, Inc. is a specialty talent and workforce solutions provider operating throughout the world. The Company operates through five segments: Professional & Industrial (P&I), Science, Engineering & Technology (SET), Education, Outsourcing & Consulting Group (OCG) and International. P&I segment delivers staffing, outcome-based and permanent placement services, providing administrative, accounting and finance, light industrial and contact center staffing and other workforce solutions in the United States and Canada. The SET segment delivers staffing, outcome-based and permanent placement services focused on science and clinical research, engineering, technology and telecommunications specialties. Its OCG segment delivers talent solutions including managed service provider (MSP), payroll process outsourcing (PPO), recruitment process outsourcing (RPO), and talent advisory services. International segment also delivers RPO talent solutions within its local markets.
Kelly Services, Inc. (NasdaqGS: KELY.A) entered a definitive agreement to acquire Motion Recruitment Partners, LLC from Littlejohn & Co., LLC for approximately $490 million.
KELLY SERVICES, INC. 
