Asset manager PineBridge Investments has put up €26m for a 20 per cent stake in Warsaw-listed temp staffing agency Work Service.
The public equity investment was made from Pinebridge's €522m private equity fund PineBridge New Europe Partners II.
Work
Service has been listed on the Warsaw Stock Exchange since May 2012 and
has a presence in Russia, the Czech Republic, Slovakia, Germany and
Turkey, as well as its core market in Poland.
The business
expects to turn over €195m by the end of its 2012 financial year and
employs 27,000 employees on a monthly rolling basis.
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