Global recruitment tech company Talent has bought New Zealand recruitment agency People&Co.

Talent has made $100 million in gross margins and boosted EBITDA by more than 10% to $27.5m in the past financial year.

Talent global chief executive officer Mark Nielsen said buying the business makes sense as there is significant growth potential.

He said the sale is Talent’s commitment to the NZ market.

People&Co managing director Sam Collins (Ngāpuhi) said Talent could help upscale People&Co to bring about a new era.

“We resonated with the growth mindset of the leaders and their teams,” he said.

Talent New Zealand country manager Kara Smith said Talent is keen to further expand and invest in NZ.

When BusinessDesk asked Talent the sale price, Smith said the company wouldn’t be releasing the details.