History

9 September 1997 saw the introduction of a new share on the Amsterdam stock exchange. This was Unique International N.V., the result of a merger between Goudsmit N.V. (already listed) and Unique International B.V. Behind that new share was a rich history stretching back decades, with a combined 13 operating companies. Unique Uitzendburo was established in 1972. In 1994 legal moves were made to combine the Belgian and Dutch as Unique International B.V.

 

The name Goudsmit dates from 1917 and until the 1990s was best known as producer and marketer of jewellers' products. During the 1990s the board took the decision to focus on activities with high growth potential. In 1993 this resulted in the acquisition of Polec and Techno Time (both active in the flexible employment market). Two years later Luzac College was acquired, and the next year Kontek, Edes/Seagull, Multiplan and others. Goudsmit was increasingly becoming a flexi-work organisation.

 

To quote bank analysts, the 1997 merger, which gave Unique International the initial access it sought to the public capital market, was a 'perfect fit, with benefits and synergies'. These expectations were not disappointed. In fact, the turnover target of NLG 1 billion (€ 455 million) in 2000, as set in the merger year, was almost realized in financial year 1999. Turnover in 1997 stood at around € 268 million. The merger partners complemented each other seamlessly in terms of market approach and philosophy. Both kept a distance from price wars in the big-volume markets and around generic service, preferring to specialize in niches where quality is imperative.

 

The Start temporary employment organization was acquired in 2002. Start was originally created by the Dutch government, employers’ organizations and the trade unions, to supplement the official employment bureaux, by helping people into regular work via temporary employment. Start was privatized in 1996. It is active in the field of flexible employment in the Netherlands, Spain, Portugal, and Italy. Start has grown to the number 2 position in the Dutch market with a strong position in areas including technology, transport, logistic and governmental.

 

With this acquisition the service offering to customers in the Netherlands was further widened. In turn this will further enable the one-stop-shopping strategy. The acquisition reinforced USG’s international position in countries including Spain (where Start ranks third), and Italy. Helped by expertise accrued in the Netherlands and Belgium, the reinforced market position in the various European markets could be used to accelerate the build-up of specialist service provisions.

 

In 2005 USG announced its new strategic objectives for the following 3-5 years, during which period turnover must increase to around € 2 billion. A substantial part of this extra growth will have to be generated in the four non-Dutch markets in which USG is active. Moreover, the specialities are to make up a larger share of the activity portfolio. Measures to enable these objectives included a more stringent strategic brand policy for USG. It was determined that the identity of the group brand United Services Group was not yet sufficiently clear, everywhere. Studies showed insufficient name awareness, and that, particularly in relation to the size of the company, the “umbrella” brand name yields suboptimal authority.

 

To this end it was decided to reduce the number of USG brands and to link these. This means that all brands focusing on the employment market will carry the present USG logo in appropriate colour variations.

 

On 14 June 2005 USG announced its intention to acquire its Belgian counterpart Solvus Resource Group, including Creyf’s, Content and Innotiv. To this end a friendly public offer was made for all outstanding shares, options and warrants of Solvus.

 

Solvus also supplies innovative human resources, services and solutions. On one hand Solvus’s brand portfolio comprises strong international brands like Accea, Beaver ITServices, Creyf’s and Innotiv. On the other hand Solvus has strong national brands, such as ABI, Carela, Content, Express Medical, Financial Forces, HR Forces, Legal Forces, Receptel and StarJob.

 

With the acquisition of Solvus the previously announced turnover objective of € 2 billion has already been amply surpassed.

 

The combined activities of United Services Group and Solvus Resource Group will continue under the name USG People NV.