March 1, 2017 – Executive search firm McDermott & Bull has launched McDermott & Bull Europe B.V. via the recent acquisition of Amsterdam-based Interconsultants Executive Search. Financial terms of the deal were not disclosed.
Interconsultants was founded by Jetse Reijenga in 1984 and has completed hundreds of search assignments for European and global clients, including Ricoh, Avery Dennison, Samsung, and Tech Data. Mr. Reijenga plans to stay involved with McDermott & Bull Europe as a consultant and business development advisor. The firm has a well-established executive team, including Milo Zegerius and Norbert Meijer. They will lead McDermott & Bull Europe on a day-to-day basis and work closely with McDermott & Bull CEO and co-founder Rod McDermott in building out the new brand and establishing additional practice areas.
Expanding Outside of the U.S.
“We are thrilled about this new venture with Interconsultants Executive Search, which will allow McDermott & Bull to expand its presence outside of the Americas,” said Mr. McDermott. “The formation of McDermott & Bull Europe will bolster our access to international insights and expertise, and position our firm as a true global player in the world of executive search.”
“Today’s announcement is a very exciting step for our team at Interconsultants Executive Search,” said Mr. Zegerius. “With feet on the ground in both North America and Europe, our firms will have worldwide visibility into top talent for our clients, which will allow us to make introductions to clients in North America with European operations and clients in The Netherlands with North American operations.”
“With our firms’ combined experience, resources, and best practices, this collaboration will surely benefit our clients in placing top leaders within their organizations,” Mr. Meijer added.
McDermott & Bull is the 29th largest executive search firm in the U.S. and listed as the ‘fastest growing’ on Hunt Scanlon’s Top 50 Recruiter rankings. The firm serves clients in the technology, financial services, manufacturing, biotech & life sciences, retail, and professional services sectors.
Last fall, the firm expanded into the Denver region with the addition of Theron Makley as a principal consultant. His practice focuses on serving technology clients in the energy efficiency and renewable energy sectors. The appointment extended McDermott & Bull’s reach further into the surrounding Front Range areas, including Boulder, Fort Collins, and Colorado Springs, CO.
Growing M&A Activity Among Boutique Firms
M&A activity among boutique search firms has picked up in recent months, and whether this points to mass consolidation throughout the sector remains to be seen. But one thing is certain: search firms, big and small, are focused on growth and expansion ….. Here’s some further reading from Hunt Scanlon Media.
Argyll Scott acquired REED’s business entities in Hong Kong, Kuala Lumpur and Singapore. “As part of our ambitious global growth plans, we are committed to significantly increasing our marketshare within the APAC region,” said CEO John Hunter. “Given our success in the region to date, we believe we are uniquely positioned to further develop REED’s businesses in Hong Kong, Kuala Lumpur and Singapore.
RSR Partners acquired executive search firm Higdon Partners. Founded in 1986 by Hank Higdon, Higdon Partners focuses exclusively on providing executive search services to asset and wealth management clients, including institutional, mutual fund, and high-net-worth organizations, as well as hedge funds, fund of funds, plan sponsors, endowments and foundations, private equity firms, family offices, consulting firms, and government agencies.
Bradley-Morris, Inc. (BMI), a recruiting firm focused on the placement of military veterans, acquired Loveland, OH-based RecruitMilitary (RM). The combined entity will be the largest military recruiting company in the U.S., offering employers access to more than one million military job seekers via services that include recruiting, military job fairs, employer branding, and a military-based publication.
Hanover Search Group acquired Opus Executive Search of Los Angeles, which will operate under Antony Pitt as U.S. managing director. Opus has experience in the U.S. wealth management sector and will operate from both the East and West Coasts.
Options Group acquired Broadstreet Global, a financial services search and strategic consulting firm based in Sydney, Australia. Broadstreet Global specializes in search and consulting for a number of interrelated sectors, including investment banking, capital markets, structured products, alternative asset classes and insurance. Its client base includes financial institutions, regional banks, asset managers, insurers and selective boutiques.
SRi (Sports Recruitment International) acquired Munich-based sporting goods and fashion executive search firm, “heads for brands.” Andreas Huber, who served as chief executive officer of the firm, becomes head of sporting goods and fashion for SRi. The firm sees Germany as a sophisticated and growing sporting goods and fashion market.
Industrial Search Partners (ISP) acquired Ference Partners, a Virginia / metro Washington, D.C.-based recruiting firm founded by Patrick Ference. Mr. Ference brings over 25 years of corporate leadership and senior executive search expertise focusing on assignments largely in the industrial sector to Industrial Search Partners, where he becomes a managing partner.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media