Heidrick & Struggles, a provider of global leadership advisory and on-demand talent solutions, said earlier this week it had agreed to acquire Atreus, a leading player for executive interim management in Germany.
The acquisition is to build on Heidrick & Struggles’ position as a leader in the on-demand talent sector by expanding this offering into Continental Europe, the company said.
Financial terms of the deal, however, remained undisclosed.
“We are seeing a transformation in how organizations are acquiring executive level talent and the expertise they need,” Dan Ryan, Managing Partner, On-Demand Talent, Heidrick & Struggles, said in a press release.
“Having access to top talent to fill roles on an interim basis, or to drive major projects forward, is becoming an increasingly important solution for our clients. The acquisition of Atreus will strengthen our already market leading On-Demand Talent platform and extend Heidrick & Struggles’ reach in this growing talent market segment, further underscoring our commitment to be at the forefront of delivering an integrated suite of executive talent and leadership advisory solutions,” Ryan added.
The acquisition is expected to close in the first quarter of 2023, subject to regulatory approvals and customary closing conditions.
Atreus, which generated revenue of nearly $61 million last year, will continue to be led by Co-CEOs, Harald Linné and Rainer Nagel, and will function as a wholly-owned subsidiary of Heidrick & Struggles.