Heidrick & Struggles Enters into Definitive Agreement with Investor Consortium Led by Advent International and Corvex to Become a Private Company
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 [...]




