Korn Ferry acquires AMS to create a global talent consulting powerhouse

Korn Ferry has agreed to acquire UK-headquartered AMS from OMERS Private Equity in a deal valued at approximately £850 million ($1.1 billion), marking one of the largest recent transactions in the talent consulting sector.

According to Korn Ferry, the acquisition will bring together two complementary businesses spanning organisational consulting, executive search, recruitment process outsourcing (RPO), workforce solutions and skills development. Once the transaction closes, the combined organisation will employ more than 16,000 people and place a professional into a role approximately every 90 seconds.

The company said the acquisition reflects growing demand from employers for integrated talent, leadership and workforce transformation services as organisations navigate changing hiring needs and accelerating technology adoption.

Combining consulting with talent acquisition expertise

The acquisition expands Korn Ferry's capabilities beyond leadership advisory and organisational consulting by adding AMS's established recruitment and workforce management business.

According to the companies, the combined organisation will bring together:

• Korn Ferry's expertise in executive search, talent and organisational solutions, and workforce solutions.
• AMS's capabilities in recruitment process outsourcing (RPO), contingent workforce solutions, early careers and campus hiring.
• Consulting services focused on skills creation and workforce transformation.
• Operations serving clients across more than 120 countries.

Gary D. Burnison, CEO of Korn Ferry, said the acquisition would strengthen the firm's ability to help organisations address increasingly complex workforce challenges.

He said bringing AMS into the business would expand its capacity to solve clients' organisational priorities while combining two companies with closely aligned cultures and values.

Rosaleen Blair, Founder and Chair of AMS, said both organisations shared similar beliefs about helping businesses connect with the talent needed to achieve long-term growth. She will continue as Chair following completion of the transaction.

Gordon Stuart, CEO of AMS, said the combination would create new opportunities for clients and employees while strengthening both companies' ability to shape the future of work.

Financial details of the transaction

Under the definitive agreement:

• The total acquisition value is approximately £850 million ($1.1 billion).
• Around £659 million ($881 million) will be paid in cash.
• Approximately £191 million ($255 million) will be paid through Korn Ferry common stock.
• Korn Ferry expects to finance the cash portion using approximately $300 million in existing cash and about $581 million through borrowings under its revolving credit facility.
• The company plans to issue around 3.6 million shares, subject to a 15% collar at closing.

According to Korn Ferry, AMS currently generates approximately $650 million in annual fee revenue and $100 million in adjusted EBITDA on a run-rate basis.

The company estimates the acquisition could contribute approximately $140 million in run-rate adjusted EBITDA within a year of closing, assuming economic conditions remain stable.

Long-term contracts add revenue visibility

Beyond expanding service offerings, the acquisition also brings a sizeable contracted business.

Korn Ferry said AMS's long-term customer agreements include more than $1.5 billion in estimated fees remaining under existing contracts. The company expects these agreements to improve revenue visibility while strengthening its ability to deliver scalable, data-driven talent strategies across industries and regions.

Founded in 1996 by Rosaleen Blair, AMS supports organisations across financial services, healthcare, technology, life sciences, consumer, industrial and public sector industries.

What comes next

The acquisition remains subject to customary regulatory approvals and other closing conditions.

Korn Ferry expects the transaction to close during the second quarter of its fiscal year 2027. The company said it expects the acquisition to become immediately accretive to earnings per share during the first full year after adjusting for integration, restructuring and transaction-related costs.

The deal reflects continued consolidation across the HR and talent services market as organisations increasingly seek integrated partners capable of supporting leadership, recruitment, workforce planning and skills development through a single platform.