Outsourcing service provider EDS has sold its A.T. Kearney Executive Search business to an investment group led by Edward Kelley, a former board member and president of the European operations of Korn/Ferry International.
The vast majority of A.T. Kearney Executive Search’s senior management team participated in the transaction, and most are among the firm’s new owners. Terms of the transaction were not disclosed. This sale is separate from an anticipated management buyout from EDS of A.T. Kearney Inc., the management consulting firm.
“I am thrilled to have the opportunity to lead an executive search firm with roots as significant as this,” said Kelley, who will serve as CEO. “One key element of our strategy will be to enhance our international capability by expanding our global footprint and increasing our strength in emerging markets. We will also be developing new innovations in client service.”
A.T. Kearney Executive Search specializes in high-level, retained executive search for senior management, C-suite, and board-level executives in a wide array of market sectors including consumer goods and retail, education and not-for-profit, financial services, industrial markets, life sciences/healthcare, and technology. The company serves clients ranging from multinationals and regional leaders to mid-sized firms and startups. With a total of 24 offices worldwide, the company is one of the oldest search firms in the world, having been founded in 1946.
“This is a tremendous opportunity for all of us at A.T. Kearney Executive Search,” said Steve Fisher, president of the company. “We have aspired for some time to become an independent company focusing entirely and exclusively on providing world- class executive search services for clients.”
The firm will be managed by an executive committee comprising several members of the current A.T. Kearney Executive Search management team.