Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 23-Jul-2001
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Heidrick & Struggles Expands with Acquisition in U.K.
Acquisition of SHP Associates Gives Boost to European Operations
CHICAGO, July 23 /PRNewswire/ -- Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's premier executive search and leadership consulting firm, today announced it has acquired SHP Associates (SHPA), a U.K.-based search firm specializing in work at the middle and senior management level. The acquisition enhances the European expansion efforts of Heidrick & Struggles' media-enhanced management search business for emerging leadership talent and allows the company to support its clients with a broader range of services.
"We intend to continue to make the necessary investments to expand our management search business for emerging leadership talent in Europe," said Piers Marmion, Chief Operating Officer and President of the Heidrick & Struggles business outside the Americas. "Our expansion plans -- through organic growth as well as acquisitions of profitable businesses like SHP Associates -- are an important step forward in becoming even more competitive and distinctive in this region. They provide an excellent complement to our core executive search business, and allow us to get to know talent earlier in its career and support clients effectively, with our guarantee of quality, at critical levels where we have not operated before."
In the U.K., SHPA brings recognized market expertise in the technology, finance and accounting, and financial services sectors. SHPA broadens and deepens Heidrick & Struggles' existing client relationships by expanding critical mass in the U.K. for search work targeted at emerging leaders. The acquisition enhances Heidrick & Struggles' ability to compete in the media-driven European search business using both online and traditional media. This combination of methodologies is typical of the approach used for search work at this level in Europe.
"Heidrick & Struggles shares our commitment to quality service for clients," said John Ellis, Joint Chief Executive Officer of SHPA. "By joining forces, we gain access to a worldwide network of executive search resources and an excellent career development platform for our employees."
Added James R. Quandt, President and Chief Executive Officer of LeadersOnline: "I am impressed with the reputation and professionalism of the talented individuals who will join our Heidrick & Struggles team. Their skills in the media-driven search business, coupled with our proven web-enhanced methodologies, greatly enhance the speed and scope of candidate acquisition services we deliver to our clients."
About SHP Associates (SHPA)
Specializing in the middle management level search work in the technology, finance and financial services sectors, SHPA was formed in 1997 as a sister company to Sainty, Hird and Partners, a leading international executive search business focusing on the financial services sector. With revenue in 2000 of approximately $7 million, SHPA has 32 employees, including 15 consultants.
About Heidrick & Struggles International, Inc. (HSI Group)
Heidrick & Struggles International, Inc. (HSI Group) is the world's premier provider of executive-level search and leadership consulting services. More than 1,000 Heidrick & Struggles professionals operate from offices in over 75 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For nearly 50 years, our core business -- Heidrick & Struggles Executive Search -- has specialized in chief executive, board member and senior-level management assignments for a broad spectrum of clients: multi-national corporations, mid-cap and start-up companies, nonprofit entities, educational institutions, foundations, associations and governmental units. We are expanding our range of complementary services to offer solutions to senior management teams for their human capital needs. LeadersOnline, our media-enhanced recruiting business, serves clients who seek the next generation of corporate leaders. We are capitalizing on our access and influence with the highest levels of our client organizations through Heidrick & Struggles Ventures, our unit responsible for other complementary businesses, alliances and investments. For more information about HSI Group, visit our web site at http://www.heidrick.com/ .
SOURCE Heidrick & Struggles International Inc.
CONTACT: Media, Eric Sodorff, +1-312-496-1613, or esodorff@heidrick.com, or Analyst, Barry Hollingsworth, +1-312-496-1723, or bhollingsworth@h-s.com, or UK - Europe, Lara Cresswell, +44-20-7331-5428, all for Heidrick & Struggles International
Web site: http://www.heidrick.com