Therese Rein set to re-enter Australian market

Ingeus, the work placement business founded and run by Therese Rein, is set to re-enter the Australian market, years after the entrepreneur sold the Australian arm of her business while her husband Kevin Rudd was seeking the prime ministership.

Rein, one of Australia’s most successful female entrepreneurs, turned her attention to the United Kingdom after divesting her Australian operation for $26 million in 2007.

Ingeus, which seeks Government contracts to help job-seekers find work, has operations across France, Germany, Sweden, Switzerland, South Korea and Poland. It is the biggest welfare-to-work provider in Britain, and together with joint venture partners has been granted almost one quarter of the Conservative Government’s welfare-to-work program in Britain.

A registration for Ingeus Australia has been lodged with the Australian Securities and Investments Commission. The company is headquartered in Brisbane and has more than 1,000 employees across 70 offices internationally.

A company spokesman told SmartCompany this morning that Ingeus has not yet decided what form the Australian operations will take.

Any Australian business move would depend on opportunities, the spokeswoman said, and there is no set timeframe in terms of re-establishing the business.  

She ruled out seeking Federal Government contracts – to avoid the perception of a conflict of interest given Rudd’s position as Foreign Minister – and added the five-year non-compete clauses in its sales agreement will be honoured. 

The spokeswoman added the registration with ASIC is part of the company’s goverance process, and it was always the intention to re-register given the company is headquartered here. The spokeswoman said that Ingeus is registered in a number of countries where it does not operate.

At its peak, Ingeus is estimated to have had up to 800 employees in Australia.

By ruling out Federal Government deals, there could be opportunities for local or state Government contracts, or deals with employers and in private-sector recruitment.

Entering the Australian market now might well prove a deft move by the entrepreneur, with fears that the unemployment rate will rise – albeit off very low levels – on the back of a series of high-profile company collapses. An entry now might also leave Ingeus well-placed once its non-compete clauses expire.

Rein founded a rehabilitation company in 1989, inspired by her father who suffered from a crippling injury and was predicted to have a short and difficult life, but instead worked until retirement at age 65.

Ingeus made an $18.85 million profit last year, turning around a $785,000 loss in the six months to December 31, 2009, and the job placement company expects to grow and diversity its revenue base in international markets.

Rein was named by SmartCompany as one of Australia’s top female entrepreneurs for 2011 this March, with revenue put at $145 million.

The Ingeus board is David Gonski (chair), Garry Hounsell (director), Rein (executive director) and Greg Ashmead (executive director).