Manpower added to its European presence last week with the acquisition of Netherlands-based, professional placement firm Vitae. Vitae specialises in the placement of interim and professional staff in the finance, business services and engineering sectors.

"The acquisition of Vitae is part of our ongoing strategy to broaden our portfolio of recruitment services within our Manpower Professional brand, and to provide our clients with all of the talent they need, particularly the technology and finance professionals that are currently in high demand," said Jeffrey A Joerres, Manpower chairman and chief executive officer.

No price was revealed for the transaction, which was assisted by business services corporate finance boutique CCP. CCP, with offices in London and Munich, worked on the transaction from November last year.

Established in 1986, Vitae places about 4,000 candidates a year. Vitae director Stef Hinfelaar said the acquisition by Manpower is not only a logical but also a desired step. "In the last few years, we have invested greatly in our brand and in our people. We are very pleased that this union gives us the chance to realise future growth scenarios while still maintaining our identity. For us, that is a compelling prospect."

The acquisition of Vitae by Manpower Netherlands will be submitted to the Netherlands Competition Authority for approval.