New workplace realities — including how people work and when they work — are creating vast new opportunities for executive search firms looking to expand their offerings. “Interim solutions play directly into this new model and the industry has a huge avenue ahead of it,” according to Hunt Scanlon Ventures. Let’s take a closer look.
April 4, 2022 – Acquisitions continue to make headlines in the recruiting industry, with a number of notable purchases over the past few months. The latest: Korn Ferry has acquired interim management solutions provider Patina Solutions Group. The acquisition should be immediately accretive to Korn Ferry’s adjusted earnings. “This combination presents a real and tangible opportunity for Korn Ferry and our customers to seek the right talent, who are highly agile, with specialized skills and expertise, to help them drive superior performance, including on an interim basis. “said Gary D. Burnison. , CEO of Korn Ferry. “Patina offers ideal solutions for today’s mobile workforce.”
Patina brings Korn Ferry expertise in interim management solutions across multiple industry verticals. Patina’s network of senior executives and interim talent spans functional areas of expertise such as finance, operations, legal, human resources, IT, and more. “New workplace realities — including how people work and when they work — are creating vast new opportunities for executive search firms looking to expand their offerings,” said Scott A. Scanlon, partner. founder and CEO of Hunt Scanlon Ventures. “Interim solutions fit perfectly into this new model and the industry has a head start.
“As part of Korn Ferry, Patina will have even more exciting solutions to offer its customers,” said Patina CEO Mike Harris. “Korn Ferry is a leading global organization consultancy, with world-class solutions and we look forward to further strengthening our interim executive solutions with them. We are delighted to join Korn Ferry and excited for the opportunities ahead.
Korn Ferry is a Los Angeles-based executive recruiter and leadership consultant and the largest in the world and the Americas according to Hunt Scanlon Media’s ranking. The firm’s 8,600 employees serve clients in more than 50 countries.
Patina Solutions Adds Recruiting Veteran; Secure funding
Patina partners with companies to solve problems, realize opportunities, improve results, fill a key expertise or resource gap, develop talent or support any other critical initiative. It uses a bespoke approach to delivering its recruitment solutions, including flexible fee structures. It also offers a temp-to-hire option, allowing companies to work with executive candidates before making them a permanent offer.
The company raised capital funding several years ago in which Patina secured $3.45 million to support its growth and expansion efforts at the time. Individual angel investors have contributed a significant portion of this investment. Patina used this funding to grow exponentially.
Korn Ferry has been expanding its brand for a few months, notably with the acquisition of Lucas Group. The addition of Lucas Group to Korn Ferry’s broader talent acquisition portfolio – spanning executive search, recruitment process outsourcing and professional search – should accelerate Korn Ferry’s ability to capture additional share of the professional research and contract market. Founded in 1970 and based in Atlanta, Lucas Group is a professional search and contract recruitment firm, targeting middle market companies. The main areas of interest cover specializations such as accounting and finance, human resources, information technology, legal, military transition, sales and marketing, as well as supply chain and operations. “This transaction targets the highly fragmented professional search and contract staffing market,” Mr. Scanlon said.
“This combination is the right move at the right time,” Mr. Burnison said. “Today’s work landscape is changing before our eyes – people working anywhere, anytime, anywhere. Professionals are on the move, baby boomers are retiring, and career nomads are looking for change – early and often. We are taking this opportunity to help our clients find the right talent who is highly agile with specialized skills and expertise to help them drive superior performance,” Mr. Burnison added.
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Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media