Heidrick & Struggles Announces Definitive Agreement for Going Private with Advent International and Corvex
In a significant move forward, Heidrick & Struggles International, Inc., known for its leadership advisory services, has entered into a definitive agreement leading to its transition into a private company. This strategic decision, valued at around $1.3 billion, involves a consortium of investors spearheaded by Advent International and Corvex Private Equity. As part of the transaction, shareholders will receive $59.00 per share in cash—a notable premium of approximately 26% compared to the weighted 90-day average stock price.
Heidrick's evolution into a private entity aims to accelerate its growth trajectory in the executive search sector and bolster its consulting services, encompassing leadership development, culture enhancement, and organizational performance. The partnership with Advent and Corvex is designed to augment Heidrick's operational capacity, allowing for substantial investments in staff, advanced technologies, and innovative solutions targeted at delivering exceptional value to its clientele.
A pivotal aspect of this deal is the significant involvement of current and future partners, enhancing their stake in the newly privatized entity. Following the closure of the transaction, anticipated during the first quarter of 2026 pending shareholder approvals and regulatory approvals, Heidrick will maintain its Chicago headquarters and continue operating under its established brand.
Tom Monahan, CEO of Heidrick, expressed enthusiasm about this milestone, stating, "This pivotal moment opens an exciting new chapter in Heidrick's growth history and allows us to strengthen our expertise by partnering with experienced and reputable investors. Together, we aim to create enhanced value for our clients and team members."
The board's unanimous approval indicates a comprehensive strategic process that involved consultations with multiple parties. Adam Warby, the board's chairman, remarked, "We are pleased to have reached an agreement that provides immediate and significant cash value to our shareholders while positioning Heidrick to attract and retain exceptional talent."
John DiCola, CEO of Advent, acknowledged Heidrick's long-standing reputation for excellence in leadership advisory services, emphasizing the consortium's commitment to supporting Heidrick’s mission and expanding its global footprint. Joe Costa, Managing Partner at Corvex, echoed this sentiment, emphasizing the potential for accelerated growth and long-term value generation.
As the guiding force behind this transition, the current leadership team will remain intact post-transaction. The experts at Heidrick & Struggles will continue to leverage their deep industry knowledge and trusted relationships across the global corporate landscape to meet evolving client needs.
This definitive agreement encapsulates a strategic vision for the future of Heidrick & Struggles—laying the groundwork for enhanced service delivery in leadership consulting, talent acquisition, and organizational effectiveness. By investing in human capital and innovative technologies, Heidrick aims to set new industry benchmarks, reinforcing its status as a premier global partner in leadership advice.
Background on Heidrick & Struggles: Founded over 70 years ago, Heidrick & Struggles has been a pioneer in executive search and leadership consulting. The firm partners with high-profile enterprises to address their leadership and talent challenges, ensuring that their executives are equipped to navigate the complexities of modern business landscapes. Heidrick's legacy of success continues as it embraces this next chapter, fortified by robust financial backing and strategic partnerships.
In conclusion, the collaborative effort with Advent and Corvex not only propels Heidrick & Struggles towards a sustainable and impactful future but also aligns it with stakeholders who share a mutual vision for growth and excellence in leadership consulting.
Heidrick's evolution into a private entity aims to accelerate its growth trajectory in the executive search sector and bolster its consulting services, encompassing leadership development, culture enhancement, and organizational performance. The partnership with Advent and Corvex is designed to augment Heidrick's operational capacity, allowing for substantial investments in staff, advanced technologies, and innovative solutions targeted at delivering exceptional value to its clientele.
A pivotal aspect of this deal is the significant involvement of current and future partners, enhancing their stake in the newly privatized entity. Following the closure of the transaction, anticipated during the first quarter of 2026 pending shareholder approvals and regulatory approvals, Heidrick will maintain its Chicago headquarters and continue operating under its established brand.
Tom Monahan, CEO of Heidrick, expressed enthusiasm about this milestone, stating, "This pivotal moment opens an exciting new chapter in Heidrick's growth history and allows us to strengthen our expertise by partnering with experienced and reputable investors. Together, we aim to create enhanced value for our clients and team members."
The board's unanimous approval indicates a comprehensive strategic process that involved consultations with multiple parties. Adam Warby, the board's chairman, remarked, "We are pleased to have reached an agreement that provides immediate and significant cash value to our shareholders while positioning Heidrick to attract and retain exceptional talent."
John DiCola, CEO of Advent, acknowledged Heidrick's long-standing reputation for excellence in leadership advisory services, emphasizing the consortium's commitment to supporting Heidrick’s mission and expanding its global footprint. Joe Costa, Managing Partner at Corvex, echoed this sentiment, emphasizing the potential for accelerated growth and long-term value generation.
As the guiding force behind this transition, the current leadership team will remain intact post-transaction. The experts at Heidrick & Struggles will continue to leverage their deep industry knowledge and trusted relationships across the global corporate landscape to meet evolving client needs.
This definitive agreement encapsulates a strategic vision for the future of Heidrick & Struggles—laying the groundwork for enhanced service delivery in leadership consulting, talent acquisition, and organizational effectiveness. By investing in human capital and innovative technologies, Heidrick aims to set new industry benchmarks, reinforcing its status as a premier global partner in leadership advice.
Background on Heidrick & Struggles: Founded over 70 years ago, Heidrick & Struggles has been a pioneer in executive search and leadership consulting. The firm partners with high-profile enterprises to address their leadership and talent challenges, ensuring that their executives are equipped to navigate the complexities of modern business landscapes. Heidrick's legacy of success continues as it embraces this next chapter, fortified by robust financial backing and strategic partnerships.
In conclusion, the collaborative effort with Advent and Corvex not only propels Heidrick & Struggles towards a sustainable and impactful future but also aligns it with stakeholders who share a mutual vision for growth and excellence in leadership consulting.
Topics Business Technology）
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