Global recruiter ManpowerGroup has acquired German human resource services provider 7S Group for €136.5m (£98.54m).

In a statement released this morning, Manpower said the acquisition, expected to close later this year, has a purchase price of €136.5m along with an earn-out opportunity based upon 2015 results from operations. This means 7S would receive more than Manpower’s offer if the business achieves a certain level of earnings.

7S Group is a specialist provider of HR services focusing on a number of core sectors including skilled trades, engineering and IT. 

Recruiter contacted Manpower to find out what level of earnings would trigger the earn-out opportunity but had not heard back by press deadlines.