Heidrick Struggles Pays $53.5M for HB ConsultancyThursday, January 3, 2013
Senn Delaney Leadership Consulting Group LLC in Huntington Beach has been acquired by Chicago-based executive-search firm Heidrick & Struggles International Inc. in a $53.5 million deal that has the potential to total $75 million depending on milestone payments in the next three years.
Publicly traded Heidrick & Struggles saw its stock price jump about 6.4% after the news. The company saw about $490 million in revenue for 12 months through September.
Senn Delaney provides "culture-shaping" strategies for companies in a variety of industries, with a particular focus on the energy and healthcare sectors. The firm estimates about $29 million in 2012 revenue.
The company will remain in Orange County and operate as a subsidiary of Heidrick & Struggles. Senn Delaney’s President and Chief Executive Jim Hart will be part of the Chicago firm’s operating committee.