Mercer announced today that it has acquired Global Remuneration Solutions (Pty) Ltd. (GRS), a leading compensation and benefits survey data and rewards information provider headquartered in South Africa. GRS conducts compensation and benefits surveys in 36 countries across sub-Saharan Africa and provides a wide range of rewards and mobility products and consulting to many local and international organizations operating in Africa. The transaction increases the scale of Mercer in Africa and builds on the strategic alliance Mercer has had with GRS since 1999.
Terms of the transaction were not disclosed.
The transaction is built on the solid foundation of the two firms’ working relationship, with GRS employing the same methodologies and standards of professionalism, integrity and compliance as Mercer. GRS and Mercer established the Africa and Middle East Compensation & Benefits Forum in 2007. This conference, now held annually, was initiated in response to rapid emerging markets requirements in this region, where companies need high quality market data and a solid peer platform for exchanging and developing human resources and compensation practices.
“Africa is an important and expanding market for Mercer and the acquisition of GRS is tangible evidence of our commitment to invest in the continent,” said Gaurav D. Garg, Mercer’s Regional President, Growth Markets. “Specifically, within the continent, South Africa is a key market growth area for Mercer. Not only does GRS have a significant market presence in South Africa’s large and growing economy, but also it is a market leader across the broader African continent where our global clients have been expanding operations and demand reliable data. GRS has a multi-sector client base and serves a range of clients from companies whose operations are largely Africa-based to the largest multinationals operating on the African continent.
“GRS is a leading compensation and benefits consultant both local companies and multinationals rely upon,” noted Mr. Garg. “Its survey data is highly valued for its reliability in a region where reputable data is not easily obtained. We believe GRS’ knowledge of Africa will complement Mercer’s expertise in pensions, health and benefits, investment and talent consulting. South Africa is experiencing a major shift from state to private pensions and facing rising healthcare premiums, creating significant opportunities for Mercer to consult in benefits, investment, and the talent and rewards sectors.”