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Executive search and leadership advisory specialist Heidrick & Struggles International has announced it will be acquired by a consortium led by Advent International and Corvex Private Equity in a $1.3bn deal.
Under the agreement, investors will pay $59 a share in cash - a 26% premium to the company’s 90-day volume-weighted average. Once completed, Heidrick will return to private ownership, a move its leadership said will mean faster expansion and deeper investment in people and technology.
Private ownership to accelerate strategy
CEO Tom Monahan will continue to lead the business alongside President Tom Murray and the current executive team. Monahan described the deal as “an exciting new chapter” and said the partnership with Advent and Corvex brings “a unique set of financial and strategic resources” that will enable the company “to create even more value for clients and colleagues.”
"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," he said.
Monahan belives the buyout will expand equity participation among current and future leaders, with a new partner equity plan designed to attract and retain top talent across its global operations.
Chairman Adam Warby said the sale was the result of a “comprehensive and strategic process” that considered multiple offers. “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 deliver unrivaled client impact,” he said.
Advent and Corvex back growth ambitions
Advent Managing Director John DiCola said the firm and its partners see “significant opportunities to strengthen Heidrick’s market position by growing its product offerings and expanding globally.”
Corvex Managing Partner Joe Costa added that returning the company to private ownership would “accelerate growth and continue driving superior value for clients.”
Advent Operating Partner Carmine Di Sibio, a former EY CEO, said Heidrick’s long-standing reputation as a trusted leadership advisor made it well placed to build on its success as a private firm.
The deal, which is subject to shareholder approval, is expected to close in early 2026. Heidrick’s leadership said the new structure will allow it to concentrate on its core offerings of executive search, interim talent solutions, leadership assessment, and culture consulting, while investing in innovation to meet the demands of global clients.
