TUJA Holding GmbH is the latest company to change hands between private equity firms, with Germany’s Odewald & Compagnie selling its interest to Barclays Private Equity European Fund II for an undisclosed sum.
A temporary employment agency, TUJA recorded a turnover of approximately €240m in 2005, a 35% increase on 2004. Odewald & Compagnie acquired it in early 2004 through its 2001 fund, Odewald & Compagnie GmbH & Co. Kommanditgesellschaft für Vermögensanlagen in Portfoliounternehmen.
Peter Hammermann, co-head of Barclays Private Equity, said: “The temporary employment market is growing at an annual rate of 20%, making it one of the most interesting sectors of the service industry. With our support, the TUJA group will be in a position to actively shape the consolidation currently taking place within the sector.”