Devonshire Investment Group buys CEE assets from RR Donnelley

Venture capital funded Devonshire Investment Group (DIG) has bought the German and Polish assets of Devonshire from global marketing and communications organisation RR Donnelley, and plans to merge the firm with two other recruitment businesses.

Wed, 19 Oct 2016

Venture capital funded Devonshire Investment Group (DIG) has bought the German and Polish assets of Devonshire from global marketing and communications organisation RR Donnelley, and plans to merge the firm with two other recruitment businesses.

In a statement, released this week, DIG revealed the deal is expected to close by the end of the month, following the completion of customary closing conditions. Terms were not disclosed.

The chief executive of the new venture will be Michal Mlynarczyk, a previous regional director at recruitment giant Hays for Central and Eastern Europe.

The Devonshire brand that was established in 2001 in the CEE region will remain for a transition period during the integration with Polish IT contracting company VLOG and engineering permanent staffing firm CERN. The companies following the merger will comprise 70 consultants, with 300+ outsourced IT and engineering contractors, and will operate from four offices in Poland and two in Germany.

DIG is co-funded by OPOKA Ventures, a Polish specialised private equity fund being part of OPOKA TFI, and AdNext, an online marketing company, along with new CEO Mlynarczyk.

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