Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 15-Feb-2000
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Heidrick & Struggles Signs Letter of Intent to Acquire Lynch Miller Moore O'Hara
CHICAGO--(BUSINESS WIRE)--Feb. 15, 2000--Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's leading executive search firm, today announced that it has signed a letter of intent to acquire Lynch Miller Moore O'Hara, Inc., the Chicago-based provider of professional executive recruitment services.
"This acquisition further strengthens our core executive search business in the Chicago market and the Midwest," said Patrick S. Pittard, President and Chief Executive Officer of Heidrick & Struggles. "Culture fit was critical to both firms and I can tell you that the similarities abound, from our Chicago roots to our team-based commitment to long-term client satisfaction."
The partnership combines the advantages of Heidrick & Struggles' global search expertise across a broad range of practices and functional specialties with the specialist expertise of Lynch Miller Moore O'Hara in high-level work for venture capitalist, private equity, high tech start-up and middle market firms.
"Heidrick & Struggles is the best fit for our people and for our approach to the executive recruiting profession," said Michael C. Lynch, Managing Director of Lynch Miller Moore O'Hara. "We have had a great 13-year run as an independent company, but changes in technology and information availability made it imperative to align ourselves with a quality partner so that we can continue to serve our clients in the best, most professional manner possible."
The closing of this acquisition is expected to take place in the second quarter of 2000. The acquisition will be accounted for using the purchase method.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International (Nasdaq: HSII) is the world's leading executive search firm, specializing in chief executive, board of directors and senior level management assignments. Today, over 800 Heidrick & Struggles professionals serve a broad range of organizations, including Fortune 500 companies, financial institutions, major health care organizations, universities and not-for-profit organizations, leading mid-cap companies and emerging growth companies from offices in 69 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For more information about Heidrick & Struggles, please visit our web site at www.heidrick.com.
CONTACT: Heidrick & Struggles
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