LOS ANGELES, Jan. 18, 2023 – Korn Ferry (NYSE: KFY) today announced that it has previously entered into a definitive agreement to acquire Salo, LLC. The transaction, which is subject to customary closing conditions, is expected to close on February 1, 2023.
Salo is a leading provider of finance, accounting and HR interim talent, with a strong focus on serving clients in healthcare, among other industries. The company’s substantial interim professional solutions and contract staffing expertise will enhance Korn Ferry’s industry-leading organizational consulting portfolio.
Through the acquisition of Salo, Korn Ferry will further broaden its ability to deliver to organizations experienced professionals, who will take on impactful roles on an interim or project basis, particularly in the high-demand areas of finance, accounting and HR.
Korn Ferry’s world-class brand, vast intellectual property and five decades of organizational consulting expertise are a firm foundation for continuing to scale in today’s highly segmented professional and interim solutions market.
“Salo will be a great fit, with highly relevant interim professional offerings and expertise that speak to today’s world of work – a new workscape in which more than one-third of the U.S. workforce alone considers themselves to be independent,” said Gary D. Burnison, CEO, Korn Ferry. “The Salo acquisition reflects our continued focus on high-demand areas emerging in this environment, as we scale our solutions at the intersection of talent and strategy.”
“Now, with Korn Ferry, we will be part of a global network of colleagues, with access to vast IP and more expansive client relationships and opportunities at every turn,” said Lisa Brezonik, CEO of Salo. “Our track record of success and deep interim professional solutions expertise, combined with Korn Ferry’s expansive credentials, will provide clients with greater opportunities to make an impact. We’re excited to be joining Korn Ferry and look forward to what the future holds.”
Terms of the deal were not disclosed. The acquisition is expected to be immediately accretive to Korn Ferry’s adjusted earnings.
About Korn Ferry
Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.
Salo connects professionals in finance, accounting, or HR with organizations that need their expertise. Together they realize bold ideas, tackle tough challenges, and make an impact—leading to successful business outcomes and fulfilling careers. We have clients and consultants throughout the United States and have received numerous national awards and recognition for culture and leadership.