Heidrick & Struggles International, Inc. (Nasdaq: HSII) ("Heidrick" or the "Company"), a premier global leadership advisor, today announced that it has entered into a definitive agreement whereby a consortium of investors led by Advent International ("Advent") and Corvex Private Equity ("Corvex"), and including several leading family offices, will acquire all of the Company's outstanding public shares. This new investor consortium will include significant investment from many Heidrick leaders. The all-cash transaction values the Company's equity at approximately $1.3 billion and will enable the Company to return to private ownership, with significantly more equity participation by current and future partners and leaders, enabling faster growth and greater client impact.

Under the terms of the agreement, Heidrick stockholders will receive $59.00 per share in cash, representing a premium of approximately 26% to Heidrick's 90-day volume-weighted average price per share.

Upon completion, Heidrick will become a private company and focus on rapidly advancing its global leadership positions in executive search, interim talent solutions, leadership assessment and development, as well as purpose, culture, and performance consulting. As Heidrick's partners, the consortium will enable the Company to invest in the people, technologies, and innovative solutions needed to create unrivaled value for current and future clients. As an immediate example, the Company will implement a new equity plan for current and future partners and leaders. This plan, fully incremental to current Heidrick compensation programs, will allow the Company to retain, attract, and develop the industry's top talent.

Heidrick will continue to be led by Chief Executive Officer Tom Monahan, President Tom Murray, and the Company's current leadership team following the conclusion of the transaction.

"This pivotal moment represents an exciting new chapter in Heidrick's growth story, and a tremendous opportunity for us to join forces with an investment consortium led by two highly regarded and successful partners. Advent and Corvex know Heidrick well and bring a unique set of financial and strategic resources that will allow us to create even more value for clients and colleagues," said Tom Monahan, Chief Executive Officer, Heidrick & Struggles. "We know the collective expertise and resources of the consortium will further accelerate our ability to develop differentiated, deep and durable global client relationships by ensuring Heidrick is the company where the best people do their best work."

"This transaction is the culmination of a comprehensive and strategic process led by the Heidrick Board of Directors, including engagement with multiple parties," said Chairman of the Board, Adam Warby. "We are pleased to have reached this agreement with the consortium, which provides significant and immediate cash value to our stockholders while positioning the company to attract, retain, and develop exceptional talent to deliver unrivaled client impact."

"Heidrick & Struggles has long been trusted by boards and C-suites because of its history of strong leadership advisory and management services, as well as its ability to attract and engage the best talent," said John DiCola, Managing Director at Advent. "Along with the Company's partners and Corvex, we see significant opportunities to help strengthen the firm's market position by growing its product offerings and expanding further globally."

"We are excited to partner with Advent, management, and the entire Heidrick team, to return the Company to private ownership and build on Heidrick's exceptional foundation to accelerate growth and continue driving superior value for clients," said Joe Costa, Managing Partner of Corvex Private Equity.

"Heidrick & Struggles has a strong brand and reputation for acting as a trusted advisor to high performing organizations as they make their most important leadership and talent decisions," said Carmine Di Sibio, former Chairman and CEO of EY and Advent Operating Partner who advised the consortium on the transaction. "As a private company the team will continue to build on that legacy, expand the firm's capabilities, and deliver for their clients worldwide."

Transaction Details

The transaction, which was unanimously approved by the Heidrick Board of Directors, is expected to close by the first quarter of 2026, subject to the approval of the Company's stockholders and the satisfaction of required regulatory approvals and other customary closing conditions.

Upon closing of the transaction, Heidrick will be a private company, and its common stock will no longer be listed nor traded on the Nasdaq stock market or any public exchange. Following the close of the transaction, the Company will  continue to maintain its headquarters in Chicago, Illinois, and will continue to operate under the Heidrick & Struggles name and brand.

Advent and Corvex have secured committed debt financing for the transaction from Deutsche Bank, UBS Investment Bank, and Santander. In addition to Advent and Corvex, the consortium of investors acquiring Heidrick will include a significant investment from many Heidrick leaders and several prominent family offices.

Advisors

BofA Securities is serving as exclusive financial advisor to Heidrick, and Paul Hastings LLP is serving as legal counsel to Heidrick. William Blair & Company, L.L.C., Deutsche Bank, and UBS Investment Bank are serving as financial advisor and Weil, Gotshal & Manges LLP as legal counsel to the investor consortium. Ropes & Gray LLP is additionally serving as legal counsel to Advent.

About Heidrick & StrugglesHeidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world's top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, inclusion, leadership assessment and development, organization and team acceleration, culture shaping, and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 70 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time. ÂR www.heidrick.com 

About Advent InternationalAdvent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $100 billion in assets under management* and have made 435 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 675+ colleagues leverage the full ecosystem of Advent's global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of June 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About Corvex Private EquityFounded in 2010 by Keith Meister, Corvex Management LP invests in high-quality businesses with positive secular tailwinds, partnering with management and boards to support long-term shareholder value. Corvex takes an owner-operator mindset, engaging collaboratively with key stakeholders and brings deep corporate governance expertise from experience serving on dozens of public boards, including MGM Resorts, Illumina, Yum! Brands, and Motorola Solutions, among others. Corvex Private Equity ("Corvex PE") was co-founded in 2024 by Joe Costa to make concentrated investments in small to medium-sized companies. Corvex PE seeks to invest in durable franchises with deep customer relationships, partnering with management teams and aligned investors to drive long-term value.

Contact

Bianca Wilson, Global Director, Public RelationsBwilson@heidrick.com

SOURCE Heidrick & Struggles

SOURCE: Heidrick & Struggles

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