Heidrick & Struggles Acquires Senn-Delaney Leadership Consulting Group

January 6, 2013 – Executive recruiting firm Heidrick & Struggles International has acquired Senn-Delaney Leadership Consulting Group, LLC, a global leader of corporate culture shaping. The transaction, which closed on December 31, 2012, is expected to be accretive to Heidrick & Struggles' earnings per share in 2013. For 34 years, Senn Delaney has been chosen by leaders of Global 1000 and Fortune 500 companies and other major non-profit organizations, institutions and government entities as their partner to help create and maintain thriving organizational cultures. L. Kevin Kelly, CEO of Heidrick & Struggles, said: "This is a marriage of two premium brands that both pioneered their industries and both serve the top executives of leading organizations. Culture shaping is a service that appeals directly to our target market–C-suite and board-level executives–making it a highly complementary offering to our premium executive search and leadership consulting services. At the same time, Senn Delaney gains access to the resources and global reach of the Heidrick & Struggles' platform which we believe will accelerate its growth." Senn Delaney has 2012 projected revenue of approximately $29 million and adjusted EBITDA margin of approximately 30 percent. It will operate as a subsidiary of Heidrick & Struggles from its Huntington Beach, CA headquarters.