Advising Open Up Group on divestment of Gap Personnel to Rcapital

International law firm Simmons & Simmons has acted for Japanese human resource services firm Open Up Group, to secure its divestment of market-leading temporary recruitment agency, Gap Personnel.

Open Up Group is a listed Japanese corporation focused on providing engineers to manufacturers, major construction contractors and IT companies. The group has a workforce of over 24,000 and revenues of approximately JP¥170 billion ($1.1bn).

Gap Personnel is a market-leading temporary recruitment agency, providing temporary, permanent and specialist recruitment solutions to businesses across the UK, and has revenues of approximately £200 million.

Under the transaction, Rcapital – a private equity firm specialising in complex, cross-border divestitures – will acquire Gap Personnel, working alongside its current management team.

The deal represents a strategic divestment by Open Up Group, as it directs its focus away from short-term contract-based manufacturing staffing.

The transaction was led for Open Up Group by corporate and commercial partner Jason Daniel, and supervising associate Hana Bell, supported by corporate/M&A colleagues Lara Davies, Josephine Renfrey, Naomi Anahory and a multi-disciplinary Simmons team.

Navigating the complex, cross-border deal, the firm drew on its expertise from multiple practices, including tax, banking, employment, incentives, digital business, real estate and dispute resolution.

In addition, Simmons Adaptive – the firm’s own flexible resourcing model – was able to provide commercial insights on aspects of the target business in the context of the transaction.

Simmons worked alongside DC Advisory, who acted as financial adviser to Open Up Group.

Commenting on the deal, Jason Daniel said: “It was a great pleasure to support Open Up Group on such a strategically important transaction. We were very glad to bring together our expertise from multiple practices across the firm, as well as our experience supporting Japanese groups in respect of their international operations, in assisting Open Up Group to realise this strategic pivot and divest itself of this significant business”.

Mr Yusuke Hiyoshi of Open Up Group commented: “Simmons & Simmons played a crucial role in the legal aspects of our cross-border transaction between the UK and Japan. Their deep expertise, combined with a strong understanding of both cultures and business practices, allowed them to effectively navigate key legal complexities and contribute significantly to the success of the project. In particular, the presence of multilingual lawyers greatly facilitated seamless communication between parties operating under different legal and commercial frameworks. We deeply appreciate Simmons & Simmons' professionalism, meticulous attention to detail and practical advice tailored to the seller’s perspective. We look forward to collaborating again on future cross-border transactions”.