UPDATE: Heidrick & Struggles International, Inc. has just announced a transformative move to become a private entity, entering into a definitive agreement with a consortium of investors led by Advent International and Corvex Private Equity. This all-cash transaction is valued at approximately $1.3 billion, with shareholders receiving $59.00 per share, reflecting a premium of about 26% over the stock’s average price.
The announcement, made today from Chicago, marks a pivotal shift for Heidrick, allowing for enhanced equity participation among its leaders and partners. The deal is set to accelerate the company’s growth in executive search and leadership consulting, focusing on delivering increased value to its clients.
“This is an exciting new chapter for Heidrick,” stated Tom Monahan, CEO of Heidrick & Struggles. “The expertise of Advent and Corvex will enable us to deepen our client relationships and solidify our market leadership.”
The transaction was unanimously approved by the Heidrick Board of Directors and is expected to close by the first quarter of 2026, pending shareholder and regulatory approval. Upon completion, Heidrick will no longer be listed on the Nasdaq exchange, marking its return to private ownership.
Chairman of the Board Adam Warby emphasized the immediate benefits for shareholders, highlighting the significant cash value provided by this agreement. “This transaction is the culmination of a strategic process, ensuring our stockholders receive substantial value while positioning the company for future growth,” he said.
The consortium will also implement a new equity plan aimed at attracting and retaining top talent within the firm. This initiative underscores Heidrick’s commitment to strengthening its leadership advisory services and enhancing its global footprint.
Industry experts are optimistic about the potential this partnership holds. John DiCola, Managing Director at Advent, noted that the transaction will bolster Heidrick’s capabilities and market position, allowing for expanded product offerings and further global reach.
As the deal progresses, stakeholders and employees are encouraged to stay informed about developments. The company continues to operate under the Heidrick & Struggles brand and maintain its headquarters in Chicago.
The completion of this transaction will mark a significant transition for Heidrick & Struggles, positioning it for enhanced growth and innovation in the leadership consulting sector.
For more updates on this developing story, follow our coverage on social media and stay tuned for further announcements regarding the transaction timeline and shareholder meetings.
