Benzinga | Dec 21, 2021 06:29AM EST

Heidrick & Struggles To Acquire Consulting Firms RosExpert, WE Partners For Undisclosed Sum

* Heidrick & Struggles International, Inc. (NASDAQ:HSII) has agreed to acquire executive search and leadership consulting firms RosExpert in Russia and WE Partners in the Ukraine and Kazakhstan. Financial terms were not disclosed.

* WE Partners estimates revenue by the end of 2021 to grow by 25% to $2.0 million.

* With these acquisitions, Heidrick & Struggles expects to offer a broader range of offerings and capabilities to local and multinational clients in Russia, Ukraine, and Kazakhstan. The transaction is expected to close in 1Q22.

* Heidrick & Struggles held cash and equivalents of $348.3 million as of September 30, 2021.

* Price Action: HSII shares closed lower by 3.4% at $42.31 on Monday.