Heidrick & Struggles International, Inc. (HSII) completed a $1.3 billion take‑private transaction on December 10 2025, taking the company off the Nasdaq Global Select Market. The deal was led by Advent International and Corvex Private Equity, with additional strategic investors Salem Capital Management, Mousse Partners, TF Cornerstone, HighSage Ventures, and Barcliff Partners contributing to the transaction structure.
The transaction gives HSII a flexible capital structure and removes the quarterly reporting and shareholder‑pressure constraints that come with being a public company. Management says the new ownership will enable the firm to accelerate investments in technology, expand its on‑demand talent platform, and pursue a multi‑year growth strategy that was difficult to execute under public‑market scrutiny.
Prior to the deal, HSII posted strong financial momentum. Q3 2025 revenue rose 15.9% year‑over‑year to $322.8 million, and Q4 2024 revenue grew 9.1% year‑over‑year to $276.2 million. Earnings per share in Q3 2025 were $0.83, beating the consensus estimate of $0.76 by $0.07 (9.2%). The beat was driven by disciplined cost management and a favorable mix shift toward higher‑margin consulting services.
Segment‑level performance underpinned the overall growth. Executive Search revenue increased 12% to $210 million, On‑Demand Talent grew 18% to $95 million, and Heidrick Consulting expanded 10% to $77 million. The mix shift toward consulting and on‑demand services, which carry higher margins, helped lift overall profitability despite modest headwinds in the traditional search segment.
Carmine Di Sibio, former EY global chair and CEO, will serve as Chairman of the Board of Managers, while CEO Tom Monahan will remain in his role. In a statement, Monahan said the deal “positions us to create even more value for our clients and colleagues” and highlighted the firm’s commitment to investing in technology and talent. Di Sibio added that the private‑equity partnership will provide the resources and strategic focus needed to accelerate the firm’s global expansion and deepen its leadership advisory capabilities.
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