Heidrick & Struggles International (NASDAQ:HSII) stock surged 20% in premarket trading Monday after the global leadership advisory 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 stockholders will receive $59.00 per share in cash, representing a premium of approximately 26% to the company’s 90-day volume-weighted average price per share.
The transaction, unanimously approved by Heidrick’s Board of Directors, will take the company private, allowing for increased equity participation by current and future partners and leaders. The investor consortium will include significant investment from many Heidrick leaders alongside Advent, Corvex, and several leading family offices.
Following the acquisition, Heidrick will continue to be led by current Chief Executive Officer Tom Monahan, President Tom Murray, and the existing leadership team. The company will maintain its headquarters in Chicago, Illinois, and continue operating 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 announcement.
The deal is expected to close by the first quarter of 2026, subject to stockholder approval, regulatory clearances, and other customary closing conditions. Upon completion, Heidrick’s common stock will no longer be listed on the Nasdaq stock market. BofA Securities is serving 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 secured committed debt financing from Deutsche Bank, UBS Investment Bank, and Santander.
