The acquisition of Simon Franco Recursos Humanos, a premier Sao Paulo-based search and selection firm, marks the first acquisition for TMP Worldwide in Latin America. The terms of the deal were not disclosed.
Since its founding in 1978 by Simon Franco, Simon Franco Recursos Humanos (SFRH) has grown to become one of Brazil’s leading recruiting companies. Over the last 22 years, the firm has partnered with both national and multi-national companies, and has placed more than 4,000 CEOs, Presidents, Directors and Controllers in the areas of Marketing, Operations, Human Resources, Information Technology, Accounting and, more recently, eCommerce, Internet and telecommunications.
Simon Franco Recursos Humanos greatly complements our global search and selection capabilities into new and emerging markets, not to mention what its sizable candidate database will mean for Monster.com, said Andrew McKelvey, Chairman and CEO of TMP Worldwide. In addition, Simon Franco is a high profile individual in Brazil, with daily appearances on Brazilian radio and a regular column in Brazil’s leading business magazine, Exame. No doubt he will greatly enhance our ability to raise the brand awareness of TMP Worldwide and Monster.com throughout the region.
TMP Worldwide’s launch in the region comes at an auspicious time for investment in Brazil. Over the past three years, Brazil has seen strong GDP growth, and has enjoyed relatively low unemployment and inflation, making it a logical starting point for Latin American investment opportunities. This has led to a surge in demand for a variety of recruitment services.
