Freelance com: signed the memorandum of understanding with Helvetic Payroll

Freelance com: signed the memorandum of understanding with Helvetic Payroll
Freelance com: signed the memorandum of understanding with Helvetic Payroll
Freelance.com announced that it had signed a memorandum of understanding as well as a draft report, subject to suspensive conditions, with a view to a merger with the Helvetic Payroll Group (HP Group), a specialist in wage portage in Switzerland, made up of the companies Helvetic Payroll SA (HP Geneva), Helvetic Payroll Zurich AG (HP Zurich) and 3P Financial Services SA (3PFS). This transaction is part of the continuity of the Group’s transformation program and of recent acquisitions of Coworkees, TMC France and INOPS, making it possible to offer ever more added value for its customers.

Highly accretive for the specialist in the relationship between companies and their talents, the acquisition will be financed by new bank loans as well as a stock exchange with all the associates of Helvetic Payroll.

As of December 31, 2020, having a solid balance sheet structure and a low level of debt, Freelance.com will be able to rely on the support of all of its banking partners to finance its external growth strategy. This confidence will allow it to quickly integrate the acquisition of Helvetic Payroll while continuing to have significant resources to pursue its strategy. With so many growth opportunities, the Group intends to expand its value proposition through structuring acquisitions in a still fragmented market, in order to consolidate its status as a benchmark player.

The change in activity levels combined with the completion of the acquisition of Helvetic Payroll reinforces the Group in its ambition for short and medium term sales. Freelance.com raises its 2021 proforma turnover target which should be between 620 and 640 million euros (vs 600 million euros initially anticipated), with the ambition to reach 1 billion euros in volumes activities by 2025.

 
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