Heidrick & Struggles International, Inc. (HSII) entered a merger agreement on October 6, 2025, to be taken private by a consortium of investors led by Advent International and Corvex Private Equity for $1.3 billion.
Heidrick stockholders will receive $59 per share in cash, representing a premium of 21.20% from the stock’s last close.
Heidrick & Struggles is a Chicago-based leadership advisory and talent solutions firm, providing executive search, consulting, and on-demand talent services to help organizations build and develop senior leadership teams.
Advent International is a global private equity firm managing over $100 billion in assets, partnering with management teams to invest in and transform businesses across five core sectors: business & financial services, consumer, healthcare, industrial, and technology.
Corvex is an investment firm that partners with management and boards to create long-term shareholder value, focusing on high-quality public and private companies with strong growth potential and deep customer relationships. The firm manages about $4.05 billion in assets across its public and private investment strategies.
Heidrick will remain under the leadership of CEO Tom Monahan, President Tom Murray, and the company’s existing management team following the completion of the deal.
The deal is expected to close by the first quarter of 2026.
The company will keep its headquarters in Chicago, Illinois, and will continue to operate under the Heidrick & Struggles name and brand.
Advent and Corvex have secured debt financing for the transaction from Deutsche Bank, UBS Investment Bank, and Santander. The consortium will include substantial investments from Heidrick leaders and several prominent family offices.
BofA Securities is serving as the exclusive financial advisor to Heidrick, with Paul Hastings acting as legal counsel. William Blair & Company, Deutsche Bank, and UBS Investment Bank are financial advisors to the investor consortium, with Weil, Gotshal & Manges as legal counsel. Ropes & Gray is also serving as legal counsel to Advent.
The consortium is paying 0.86 times sales for Heidrick & Struggles.
For further insight into this merger and acquisition deal, please visit the Deal Metrics page here:
The Deal Metrics page provides a comprehensive overview of the merger including:
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Editor’s Note: Baranjot Kaur contributed to this article