Major Shift for Global Leadership Advisory Firm

Heidrick & Struggles International, Inc. (Nasdaq: HSII), a renowned leader in executive search, leadership assessment, and organizational consulting, announced it has entered into a definitive agreement with an investor consortium led by Advent International and Corvex Management LP to transition the company from publicly traded to privately held. The deal, pending necessary shareholder and regulatory approvals, represents a pivotal moment in the future direction of one of the world’s premier talent consulting firms.

Agreement Details and Strategic Rationale

The agreement values Heidrick & Struggles at a substantial premium, marking a major vote of confidence from leading private equity investors. Advent International, a global private equity powerhouse with deep experience in professional services, and Corvex Management, a prominent investment management firm, will acquire all outstanding shares of Heidrick & Struggles in an all-cash transaction. The deal is expected to close in the first half of 2026.

According to the company’s official statement, the agreement aims to unlock new opportunities for strategic investment, innovation, and expansion. Leadership at Heidrick & Struggles pointed to the increasing complexity and dynamism of global talent needs, especially as companies worldwide seek transformative leaders, navigate digital disruption, and manage succession planning in volatile markets.

Industry Backdrop: Talent Consulting in Flux

The acquisition comes at a time of significant transformation in the leadership advisory market. Executive search and talent consulting firms have seen heightened demand as organizations grapple with digital transformation, remote work, DEI (Diversity, Equity, and Inclusion) imperatives, and a renewed focus on strong governance. Industry data from AESC (Association of Executive Search and Leadership Consultants) reported a global revenue rise in executive search and consulting of over 10% from 2023 to 2024, far outpacing pre-pandemic growth rates.

Private equity’s increasing interest in human capital businesses is underscored by deals such as Spencer Stuart’s sale to Clayton, Dubilier & Rice in 2023, and Korn Ferry’s aggressive acquisitions in digital talent space. Heidrick’s transition to private ownership is widely viewed as a potential catalyst for new investments in artificial intelligence-powered assessment, next-gen leadership analytics, and geographic expansion, especially in high-growth markets like Asia-Pacific and the Middle East.

Quotes from Leadership and Investors

“Going private with Advent and Corvex will enable us to sharpen our strategic focus, accelerate growth, and deliver even greater value for our clients in a fast-changing world,” said Krishnan Rajagopalan, CEO of Heidrick & Struggles. “We believe this partnership is the right step to invest in new capabilities and innovative client solutions.”

“Heidrick & Struggles has a remarkable brand and global reach. We are excited to support the company’s management and talented consultants as they further expand digital services and deepen client relationships,” said David Mussafer, Managing Partner at Advent International.

Keith Meister, founder of Corvex Management, added, “This is a unique opportunity to partner with an industry leader while leveraging technological advancements to redefine executive and talent advisory for the next decade.”

Implications for Clients, Consultants, and Investors

As a private entity, Heidrick & Struggles will be able to pursue longer-term strategic initiatives, invest more aggressively in talent and technology, and operate with increased agility. Market analysts suggest that, freed from the quarterly earnings cycle, the firm can accelerate its push into digital transformation offerings, including advanced leadership analytics, succession planning platforms, and hybrid search models.

For Heidrick’s client base of Fortune 500 companies, multinational conglomerates, and rising startups, the move promises enhanced services and a consultative approach tailored to disruptive market conditions. Early indications are that branding and core leadership teams will remain intact, with a focus on continuity and expansion.

Shareholders will receive an attractive premium on their holdings, with the final transaction price reflecting Heidrick’s robust performance and market leadership. The company reported annual revenues in excess of $1 billion in 2024, with strong profitability and expanding presence in growth markets like Asia, the Middle East, and Latin America.

Broader M&A Context: Surge in Corporate Takeovers

This deal is emblematic of a broader trend in 2025, with the financial sector and strategic consulting space seeing a wave of mergers, acquisitions, and take-private transactions. As of September 2025, global M&A volume reached over $3.5 trillion according to Refinitiv, spurred by attractive financing, technology disruption, and a need for scale.

Notably, talent and professional services firms are highly sought-after targets, given the accelerating demand for leadership development, executive coaching, and digital transformation advisory. Firms such as Russell Reynolds, Egon Zehnder, and Mercer have all signaled intentions to ramp up technology investments, mirroring Heidrick’s renewed focus on innovation.

What’s Next?

Following shareholder approval, Heidrick & Struggles will delist from the Nasdaq, concluding over two decades as a public company. The firm’s leadership has emphasized stability for its workforce and an ongoing commitment to clients worldwide. Analysts will be watching closely to see how the infusion of private capital translates into expanded digital services, geographic reach, and industry partnerships in the evolving world of executive search and leadership consulting.

The acquisition is expected to serve as a template for future deals as private equity’s appetite for knowledge- and talent-driven enterprises continues to grow. Heidrick & Struggles is poised to shape the next chapter in global talent strategy—and the wider future of professional services.