PSD Group has announced proposals to takeover of executive search firm Odgers in a £23.1 million deal.

Odgers, founded in 1970, has approximately 230 employees, and has recently opened an office in Dubai.

The move will involve the resulting merged firm changing its name to OPD group.

Francesca Robinson, chief executive of PSD (pictured), said: “We are delighted to have come to agreement with Odgers, which we have identified as a unique acquisition opportunity among UK executive search and selection firms.”

Richard Boggis-Rolfe, chief executive of Odgers, believes that the move will help retain the firm’s identity.

He said: “We are very confident that in the OPD Group, we will retain the culture and identity which is such an important part of our success.

“We are confident that the two businesses are uniquely well matched and that each will make a very significant contribution to the other.”