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

Core Points - Heidrick & Struggles International, Inc. has entered into a definitive agreement for an all-cash acquisition valued at approximately $1.3 billion, led by Advent International and Corvex Private Equity [1][3] - Stockholders will receive $59.00 per share, representing a 26% premium over the 90-day volume-weighted average price [2] - The transaction will allow Heidrick to return to private ownership, enhancing equity participation for current and future partners, and enabling faster growth [1][3] Transaction Details - The transaction is expected to close by the first quarter of 2026, pending stockholder approval and regulatory approvals [7][8] - Upon completion, Heidrick will no longer be publicly traded and will maintain its headquarters in Chicago, Illinois [8] - The consortium has secured committed debt financing from Deutsche Bank, UBS Investment Bank, and Santander [9] Leadership and Strategy - Heidrick will continue to be led by its current CEO Tom Monahan and President Tom Murray after the transaction [4] - The consortium aims to strengthen Heidrick's market position by expanding its product offerings and global reach [5][6] - A new equity plan will be implemented to attract and retain top talent in the industry [3]