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Korn Ferry acquires finance/accounting and HR staffing firm Salo

January 18, 2023

Korn Ferry (NYSE: KFY) struck a deal to acquire Salo LLC, a finance/accounting and human resources staffing firm based in Minneapolis. Plans call for the acquisition to close on Feb. 1.

Salo ranks among the largest finance/accounting firms in the US.

Helping prompt the sale, Salo CEO Lisa Brezonik said her firm has been growing quickly and had already reached targets that it initially planned to hit in three to five years. Brezonik added Korn Ferry will be a great partner to help the firm expand.

“We’re excited for our consultants to get more opportunities for more meaningful work,” she told SIA. The deal will also mean an increase in the number of clients and allow the firm to offer more solutions to its clients.

Brezonik and the leadership team will remain with the company.

Los Angeles-based Korn Ferry is known for its executive search business; however, the firm entered into the professional and executive contingent and consultant space 18 months ago.

“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 US workforce alone considers themselves to be independent,” Korn Ferry CEO Gary Burnison said.

Terms of the transaction were not announced. The acquisition is expected to be immediately accretive to Korn Ferry’s adjusted earnings.