Heidrick & Struggles to Go Private in $1.3B All-Cash Deal 

Heidrick & Struggles International, a consulting firm, will return to being a privately listed company, following an acquisition by Advent International and Corvex Private Equity, in an all-cash transaction valued at $1.3 billion. 

The move to revert to private ownership comes as Heidrick aims to broaden its executive search for various leadership positions, bolster its development and consulting initiatives across the firm.  

The transaction is expected to close by the first quarter of 2026 and would allow stockholders to receive $59 per share, Heidrick said. 

Per the deal, Heidrick’s CEO Tom Monahan, and president Tom Murray, will continue to lead the firm after it becomes a privately-held company. Additionally, Heidrick & Struggles will keep its headquarters in Chicago, Illinois, and will continue to function under the Heidrick brand. 

“Heidrick & Struggles has long been trusted by boards and C-suites because of its history of strong leadership advisory and management services, as well as its ability to attract and engage the best talent,” John DiCola, managing director at Advent. “Along with the Company’s partners and Corvex, we see significant opportunities to help strengthen the firm’s market position by growing its product offerings and expanding further globally.” 

In August, Advent International acquired U-Blox Holding, a communications technology provider, in an all-cash transaction valued at $1.3 billion. 

Recently, Janus Henderson, which owns 5% of U-Blox Holding, said it will reject Advent’s takeover of the provider, stating the deal undermines the value of the company.