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Adland's two headhunting giants to merge in pounds 1m-plus deal that will secure 85 per cent of the market.
Two of the ad industry's best-known head-hunting companies, Kendall Tarrant and Stolkin + Partners, are coming together in a deal that will give them almost total domination of the UK agency recruitment market.
Both parties are poised to sign an agreement under which Kendall Tarrant, part of Hat Pin, the AIM-listed executive search and recruitment group, will acquire Stolkin + Partners in a pounds 1 million-plus deal. The deal has been worked on under the codename Project Salt.
Gary Stolkin, the founder of Stolkin + Partners, will become the chief executive of the merged entity.
Gay Haines, Kendall Tarrant's former chief executive, will become its worldwide chairman, taking an 'ambassadorial' role and focusing on senior global contacts on a part-time basis.
The deal will allow Stolkin to capitalise on Kendall Tarrant's global reach. Since its foundation in 1979, Kendall Tarrant has extended its operations into Europe, the US, Latin America and Asia.
The combined operation is expected to account for 85 per cent of the ...