Heidrick & Struggles Acquires Senn Delaney, the Leading Corporate Culture-Shaping Consulting Firm

Heidrick & Struggles Acquires Senn Delaney, the Leading Corporate
Culture-Shaping Consulting Firm

Acquisition Further Positions Heidrick & Struggles to Serve the Leadership
Needs of the World's Top Organizations

CHICAGO, Jan. 2, 2013 (GLOBE NEWSWIRE) -- Heidrick & Struggles International,
Inc. (Nasdaq:HSII), the premier provider of Executive Search and Leadership
Consulting services worldwide, today announced the acquisition of Senn-Delaney
Leadership Consulting Group, LLC ("Senn Delaney"), the undisputed 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 trusted partner to help create and maintain
thriving organizational cultures, a key driver of business performance.

"This acquisition is a significant milestone in our strategy to build the
premier professional services firm focused on serving the leadership needs of
the world's top organizations," said L. Kevin Kelly, Chief Executive Officer
of Heidrick & Struggles. "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 a proven track record of growth and profitability with 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, Calif. headquarters.Senn Delaney's
President and Chief Executive Officer, Jim Hart, will join Heidrick &
Struggles' Operating Committee and will report to Eric Olson, Global Managing
Partner of Leadership Consulting. Dr. Larry Senn, Founder and the current
Chairman, along with the key executives of the firm are expected to remain
with the company for a minimum of three years, ensuring senior leadership

"We are excited about joining Heidrick & Struggles, a highly respected firm
with a rich heritage of helping clients build the best leadership teams in the
world.This transaction is an endorsement of Senn Delaney's success and an
acknowledgement of the increasing importance of culture shaping to executives
around the world," said Hart."Heidrick & Struggles provides Senn Delaney the
immediate global reach and access to resources we need to take our business to
the next level.Our service offerings are very complementary and we see
incredible opportunity to leverage our respective client relationships to
provide additional capabilities.We can't imagine a better partnership."

Said Senn, "Our new relationship with a legendary firm like Heidrick &
Struggles will help us better fulfill our purpose of making a positive
difference in the world by creating thriving organizational cultures."

Under the terms of the purchase agreement, Heidrick & Struggles paid $53.5
million at closing for 100 percent of the equity of Senn Delaney.The company
could pay up to $15.0 million of additional cash consideration based on the
realization of specific earnings milestones achieved in the first three years.
Also, there is a $6.5 million retention escrow that will generally vest and be
paid to certain key executives if they remain for three years subsequent to
the acquisition. The transaction was financed with cash, but Heidrick &
Struggles expects to explore additional options for financing a portion of the
initial purchase price.

Kelly added, "Senn Delaney is a world-class organization and our transaction
reflects the high quality of its historical earnings and expected performance,
without taking into account any future synergies.Senn Delaney's management
team and its consultants are passionate about the value of their product and
service offering and are the best at what they do.We couldn't be more excited
about the prospects of what this combination will mean to our clients, our
employees and our shareholders."

Conference Call

Executives of Heidrick & Struggles will host a conference call to discuss this
release today, January 2, at 4:00 p.m. Central Time. Participants may access
the company's call through the internet at www.heidrick.com.For those unable
to participate on the live call, a webcast will be archived at
www.heidrick.com and available for up to 30 days.

About Heidrick & Struggles International, Inc.

Heidrick & Struggles International, Inc. (Nasdaq:HSII) is the premier
provider of senior-level Executive Search and Leadership Consulting services,
including culture shaping, executive assessment, succession planning, board
effectiveness, leadership development and leadership strategy. For 60 years,
we have focused on quality service and built strong leadership teams through
our relationships with clients and individuals worldwide. Today, Heidrick &
Struggles leadership experts operate from principal business centers in North
America, Latin America, Europe and Asia Pacific. For more information about
Heidrick & Struggles, please visit www.heidrick.com.

About Senn Delaney

Founded in 1978, Senn Delaney is widely recognized as the leading
international authority and successful practitioner of culture shaping that
enhances the spirit and performance of organizations. Senn Delaney's passion
and singular focus on culture, combined with decades of hands-on experience,
have resulted in a comprehensive and proven culture-shaping methodology that
engages people and measurably impacts both the spirit and performance of
organizations. For more information about Senn Delaney, please visit

Safe Harbor Statement

This press release contains forward-looking statements. The forward-looking
statements are based on current expectations, estimates, forecasts and
projections about the industry in which we operate and management's beliefs
and assumptions. Forward-looking statements may be identified by the use of
words such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "estimates," "projects," "forecasts," and similar expressions.
Forward-looking statements are not guarantees of future performance and
involve certain known and unknown risks, uncertainties and assumptions that
are difficult to predict. Actual outcomes and results may differ materially
from what is expressed, forecasted or implied in the forward-looking
statements. Factors that may affect the outcome of the forward-looking
statements include, among other things: our ability to attract, integrate,
manage, and retain qualified executive search consultants; our ability to
develop and maintain strong, long-term relationships with our clients; further
declines in the global economy and our ability to execute successfully through
business cycles; the timing, speed or robustness of any future economic
recovery; social or political instability in markets where we operate; the
impact of foreign currency exchange rate fluctuations; unfavorable tax law
changes and tax authority rulings; price competition; the ability to forecast,
on a quarterly basis, variable compensation accruals that ultimately are
determined based on the achievement of annual results; our ability to realize
our tax losses; the timing of the establishment or reversal of valuation
allowance on deferred tax assets; the mix of profit and loss by country; our
reliance on information management systems; any further impairment of our
goodwill and other intangible assets; and the ability to align our cost
structure and headcount with net revenue. Our reports filed with the U.S.
Securities and Exchange Commission also include information on factors that
may affect the outcome of forward-looking statements. We undertake no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.

CONTACT: Analysts & Investors
         Julie Creed, VP, Investor Relations:
         +1 312 496 1774 or jcreed@heidrick.com
         Janice McDill, Director, Communications:
         +1 312 496 1736 or jmcdill@heidrick.com

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