Heidrick & Struggles Enters into Agreement to Acquire Atreus, Executive Interim & On-Demand Talent Business, in Germany
Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions, has entered into an agreement to acquire Atreus, one of the leading players for executive interim management in Germany. The acquisition builds on Heidrick & Struggles' leadership position in the on-demand talent space by expanding this offering into Continental Europe and is an important component of the firm's broader strategy to diversify its suite of executive talent and leadership advisory offerings.
"We are seeing a transformation in how organizations are acquiring executive level talent and the expertise they need," said Dan Ryan, Managing Partner, On-Demand Talent, Heidrick & Struggles. "Having access to top talent to fill roles on an interim basis, or to drive major projects forward, is becoming an increasingly important solution for our clients. The acquisition of Atreus will strengthen our already market leading On-Demand Talent platform and extend Heidrick & Struggles' reach in this growing talent market segment, further underscoring our commitment to be at the forefront of delivering an integrated suite of executive talent and leadership advisory solutions."
Heidrick & Struggles will acquire 100 percent of Atreus subject to the satisfaction or waiver of customary closing conditions, including obtaining applicable regulatory approvals. The acquisition is expected to occur early in the first quarter of 2023. Atreus generated annual revenue of approximately $61 million in 2021 and will become part of Heidrick & Struggles' existing on-demand talent offering that includes US-based Business Talent Group (BTG), acquired in 2021.
Atreus will continue to be led by Co-CEOs, Dr. Harald Linné and Rainer Nagel, and operate as a wholly owned subsidiary of Heidrick & Struggles.