9 external firms advise on Korn Ferry | Hay Group deal

08 December 2015 Consultancy.uk

Last week, global recruitment firm Korn Ferry formally completed its acquisition of management and HR consultancy Hay Group, in a deal worth $452 million. Hay Group’s operations have been bundled with Korn Ferry’s Leadership and Talent Consulting advisory business, creating a 7,000 man strong human capital advisor. The deal was advised on by an army of external financial and legal advisory firms, including the likes of Goldman Sachs, Sullivan & Cromwell, Osler, Hoskin & Harcourt and Bank of America Merrill Lynch.

On 24 September Korn Ferry and Hay Group unveiled their merger plans, a move which sent a tidal wave through the worlds of recruitment and HR consulting and creates a global leader in human capital consulting and solutions. “The combination of our two firms brings together nearly 7,000 talented professionals who have a single purpose – helping leaders, organisations and societies succeed by realising the full power and potential of people,” says Korn Ferry Gary Brunison. 

Korn Ferry and Hay Group

The new business has been branded as Hay Group, and is led by Stephen Kaye, who served as CEO of Hay Group since March 2013, and previously held the CFO role for fifteen years. He states that the purchase represents “a historic moment that will reshape the future of work,” adding that the two companies in his view are a perfect match. “We feel this is the perfect combination of two great firms that will be uniquely positioned to help clients achieve their strategic goals and highest aspirations. In Korn Ferry we have found a like-minded partner committed to enabling stellar business performance through people and organisational effectiveness.”

The joining of forces is expected to unlock massive benefits in scale, services, expertise, client base and solutions, as well as cross-selling opportunities at shared accounts. The integration will however also trigger operational efficiencies, which will come at a cost to some locations and employees: a preliminary assessment speaks of synergies of at least $20 million a year that will be realised in real estate costs* and in support functions.

9 external firms advise on Korn Ferry | Hay Group deal

The deal between the two firms was advised on by an army of external advisory firms. Seller Hay Group received financial advice from Goldman Sachs, while legal advisory was provided by Sullivan & Cromwell, Stibbe, Conyers Dill & Pearman, Arendt & Medernach, and Osler, Hoskin & Harcourt. Bank of America Merrill Lynch served as the main financial advisor for Korn Ferry, with law firms Gibson, Dunn & Crutcher and Morrison & Foerster providing legal transaction support.

* Korn Ferry’s 3,900 employees are based in 78 offices in 37 countries, while Hay Group’s professionals operate from 88 offices in 50 countries.


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SQW Group purchases property-based regeneration consultancy

19 April 2019 Consultancy.uk

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”