Quess enters into agreement to acquire Randstad Lanka

Quess Corp Ltd (Quess), India’s Leading Integrated Business Services provider, today announced the signing of a definitive agreement to acquire Randstad Lanka Pvt Ltd (Randstad Lanka) from Randstad India Private Limited, subject to statutory and regulatory approvals.

Headquartered in Colombo, Randstad Lanka is a HR services company providing recruitment and staffing services in Sri Lanka.  With a workforce of over 400 employees and presence across Sri Lanka, Randstad Lanka is a leading provider of workforce solutions. The company services several marquee clients, including Sri Lankan operations of several Fortune 500 clients.

This acquisition will strengthen Quess’s position as a leading provider of integrated HR solutionsacrossstaffing, permanent recruitment, executive search and RPO marks the emergence of Quess as India’s first ‎ MNC in the HR services space.Post this acquisition, Quess will have presence across eight countrieswith a strong presence in the Asia Pacific.

Speaking on the acquisition, Ajit Isaac - Chairman and MD of Quess said, “We welcome the employees of Randstad Lanka to Quess. The company has a strong presence in Sri Lankawhere we expect to see rapid growth in the future. This transaction will strengthen our position as a leading Pan Asian player serving clients across South Asia, Middle East and South-East Asia.”

The acquired business will continue to benefit from a long term, financially strong shareholder since Quess Group is an investee company of Fairfax Financial Holdings, held through its Indian listed subsidiary, Thomas Cook India Ltd.