Korn Ferry (KFY) to Acquire Lucas Group
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Korn Ferry (NYSE: KFY) today announced that it has previously entered into a definitive agreement to acquire Lucas Group. The transaction, which is subject to customary closing conditions, is expected to close on November 1.
Korn Ferry’s world-class brand, vast intellectual property and five decades of recruiting expertise are a firm foundation for growing scale in today’s highly segmented professional search market. Lucas Group brings to Korn Ferry substantial professional search and contracting expertise which is expected to enhance the firm’s industry-leading search portfolio.
“This combination is the right move at the right time,” said Gary D. Burnison, CEO, Korn Ferry. “Today’s workscape is being transformed before our eyes – people working anywhere, everywhere and at any time. Professionals are on the move, Boomers are retiring and career nomads are looking for change – early and often. We are seizing this opportunity to help clients find the right talent who are highly agile with specialized skills and expertise to help them drive superior performance.”
“We are pleased to find the ideal strategic home at Korn Ferry. We are excited about what the future will bring from this acquisition in terms of anticipated synergistic offerings for our clients as well as career opportunities for our employees,” said Randy Marmon, Lucas Group President and CEO.
Together, Korn Ferry and Lucas Group share more than a century of search experience. Founded in 1970 and headquartered in Atlanta, Lucas Group is a leading professional search and contract staffing firm, targeting middle market businesses. Key areas of focus span specializations such as accounting & finance, human resources, information technology, legal, military transition, sales & marketing, and supply chain & operations.
The broader professional search and contract staffing market is a fragmented, multi-billion-dollar global opportunity. The addition of Lucas Group to Korn Ferry’s broader talent acquisition portfolio—spanning Executive Search, Recruitment Process Outsourcing, and Professional Search—is expected to accelerate Korn Ferry’s ability to capture additional share of this significant market.
Terms of the deal were not disclosed. Upon closing, the acquisition is expected to be immediately accretive to Korn Ferry’s adjusted earnings.
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