Diversified Search, a Philadelphia-based executive search firm, has acquired Koya Leadership Partners, a Boston-based search firm that focuses on nonprofit and higher education. Terms were not disclosed.

The acquisition comes after Diversified took on a private equity investment from Minneapolis-based ShoreView Industries. Terms of the investment also were not disclosed.

With the combination of revenues and resources, Diversified Search and Koya will represent one of the largest nonprofit and higher education practices in the executive search industry, the companies said in a statement. The firm will also be one of the largest executive search firms in the U.S. marketplace, with combined projected annual revenue of more than $80 million. Both Diversified Search and Koya Leadership Partners are ranked among the top executive search firms in the nation for 2019 by Forbes magazine.

Koya’s CEO and Founder Katie Bouton will assume the role of President of Diversified Search, joining Diversified’s leadership team of Founder and Chair Judith M. von Seldeneck and CEO Dale E. Jones.

Under the agreement, Koya will retain its own name and branding and will operate within the portfolio of Diversified Search companies.

“Culture fit has always been and remains a top priority as we continue on an aggressive growth strategy within our key sectors,” von Seldeneck said. “We believe that with Koya alongside us, we have a rare opportunity to build a unique model in today’s competitive environment.”

“We are thrilled to join with Diversified to re-imagine the impact a leading mission-driven executive search firm can have on our world. In addition to sharing a passion for client service, Diversified’s culture and values mirror Koya’s,” Bouton said. “Joining our firms will enable us to offer our clients deeper and broader services that meet the needs of today’s employers and workforce. We are excited about the opportunity to expand our client service in the mission-driven field.”

This is the second time in three years that Diversified Search has undertaken such an arrangement. Diversified Search partnered with life sciences executive search firm BioQuest, based in San Francisco, in 2016.