Heidrick & Struggles International (NASDAQ:HSII) shares jumped 20% in premarket trading Monday after the global leadership advisory and executive search firm announced it will be acquired by a consortium led by Advent International and Corvex Private Equity in an all-cash transaction valued at approximately $1.3 billion.
Under the terms of the agreement, Heidrick shareholders will receive $59.00 per share in cash, representing a 26% premium to the company’s 90-day volume-weighted average price.
The deal, which was unanimously approved by Heidrick’s Board of Directors, will take the company private, giving it greater flexibility and enabling expanded equity participation among current and future partners and executives. The investor group includes Advent, Corvex, several prominent family offices, and a number of Heidrick’s own senior leaders.
Following completion of the acquisition, Heidrick & Struggles will continue to be led by CEO Tom Monahan, President Tom Murray, and the existing leadership team. The firm will retain its headquarters in Chicago, Illinois, and continue to operate under the Heidrick & Struggles name and brand.
“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,” said Monahan in the company’s announcement.
The transaction is expected to close in the first quarter of 2026, pending shareholder approval, regulatory reviews, and other customary conditions. Upon closing, Heidrick’s common stock will be delisted from the Nasdaq stock market.
BofA Securities is acting as exclusive financial advisor to Heidrick, while the investor consortium is being advised by William Blair & Company, Deutsche Bank, and UBS Investment Bank. Advent and Corvex have also obtained committed debt financing from Deutsche Bank, UBS, and Santander.
Heidrick & Struggles International stock price
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