March 1, 2013

Rabo Capital acquires USG Energy from USG People

Rabo Capital has reached agreement with USG People on the sale of USG Energy, a specialised HR services provider for the onshore and offshore industries. The newly independent USG Energy will be free to ride the wave of continued growth in its market segment, backed by shareholder Rabo Capital.

The sale of USG Energy is part of USG People’s strategic reorientation, which involves turning its focus to market segments in which it can add substantial value and create sufficient scope.

USG People has defined a number of focus areas within its professional segment, in which it can clearly achieve sufficient critical mass and synergy within the group by using the resources to which it has access.

If the company were to achieve this goal within the HR market for the onshore and offshore industries, the investment involved would both be too one-sided and too substantial for this market segment. This prompted the company to sell its USG Energy division. The transaction is subject to the dissolving conditions standard for these types of transaction.

Please see the USG People press release for additional information.