Korn Ferry announced it has entered into a definitive agreement with OMERS Private Equity to acquire UK-headquartered AMS for about £850 million, or approximately $1.1 billion. This deal will create a global leader in talent and organizational consulting.
The purchase price consists of about £659 million, or approximately $881 million, in cash and about £191 million, or approximately $255 million, in Korn Ferry common stock. Korn Ferry expects to fund the cash portion with about $300 million of cash on hand and about $581 million through borrowings under its existing revolver. Korn Ferry will also issue about 3.6 million shares, subject to a 15% collar at closing.
AMS is currently generating about $650 million of annual run-rate Fee Revenue and $100 million of Adjusted EBITDA. Assuming no adverse change in the economic environment, Korn Ferry estimates AMS will contribute about $140 million of run-rate Adjusted EBITDA within one year after closing.
Founded by Rosaleen Blair in 1996, AMS provides talent acquisition and consulting services to many leading organizations across financial services, technology, healthcare, life sciences, consumer, industrial, and public sector markets. The company has 8,000 colleagues and operates across more than 120 countries, including a strong presence throughout Europe and Asia. Its core services include Recruitment Process Outsourcing, Early Careers and Campus Recruiting, Contingent Workforce Solutions, Consulting, and Skills Creation.
By combining AMS with Korn Ferry’s Search, Talent & Organizational Solutions, and Workforce Solutions capabilities, the companies expect to strengthen their ability to help clients address organizational and workforce challenges at scale. After the deal closes, the combined firm will have more than 16,000 colleagues and is expected to place a professional in a job approximately every 90 seconds.
The acquisition will also add more than $1.5 billion in estimated fees remaining under AMS’s existing long-term contracts. Korn Ferry said this will provide greater revenue visibility and expand its ability to deliver scalable, data-driven talent strategies across geographies and industries.
The transaction is subject to regulatory approvals and is expected to close in Korn Ferry’s second fiscal quarter of fiscal year 2027. Korn Ferry expects the deal to be immediately accretive to earnings per share in the first full year after adjusting for restructuring, integration, and transaction costs.
KEY QUOTES:
“By bringing AMS into the Korn Ferry family, we are expanding our ability to help clients solve their most critical organizational challenges. Despite all of the technological innovations of yesterday, today and tomorrow, the real driver of organizational success is people. And with our AMS colleagues we will be stronger together than apart. Over almost 20 years I have watched AMS grow and evolve, with deep admiration and respect. I am convinced that the culture and values of both companies are completely aligned. And it all starts with people. This is indeed a significant milestone for Korn Ferry and I am excited about the future that we will shape together.”
Gary D. Burnison, CEO of Korn Ferry
“At AMS we connect organizations with the people who advance their vision and deliver their purpose—powering industries, achieving results and shaping futures. In Korn Ferry we have a like-minded partner that shares the same beliefs and embraces the same values.”
Rosaleen Blair, Founder and Chair of AMS
“Combining AMS with Korn Ferry will create new opportunities for our clients, our teams, and accelerate our ability to shape the future of work.”
Gordon Stuart, CEO of AMS
“AMS has made incredible progress over the course of our ownership. We have supported the company as it has expanded its capabilities, strengthened its client relationships and focused on the people and organizations it serves. Korn Ferry is a strong strategic fit for AMS as it enters its next chapter.”
Michael Block, Head of Private Capital at OMERS
