NEW YORK--(BUSINESS WIRE)--CTPartners Executive Search Inc. (NYSE MKT:CTP), a leading executive search firm, today announced that it has signed a binding letter of intent to acquire Austrian-based Neumann, a leading executive search and leadership consulting firm. The transaction includes offices in Germany, Austria and Switzerland as well as across Eastern Europe.
Neumann focuses on several key industries that complement CTPartners’ targeted practice areas including: Industrial, Consumer, Life Sciences, Technology, Professional Services and Financial Services. Neumann’s consultants will increase CTPartners’ presence in key German-speaking markets, including Europe’s largest and fastest growing economy, Germany.
“This transaction is consistent with our growth strategy to expand the CTP global footprint. Acquiring one of Europe’s leading executive search brands significantly benefits CTPartners’ global clients. Neumann has been established in Europe for over 40 years as a premier provider of senior-level executive search and leadership,” commented Brian Sullivan, CEO of CTPartners.
Hans Jorda, Chairman of Neumann said, “Joining forces with CTPartners, the biggest success story in executive search in the last decade, will be valuable to our clients who have needs around the world. We see this as a win-win for all involved, and look forward to playing a critical role within CTPartners.”
Peter Malanik, CEO of Neumann said, “Our clients are global, and joining CTPartners gives us the opportunity to collaborate with them wherever they need us to be.”
The transaction is expected to close on or about December 1, 2014. For the first six months of 2014, Neumann generated approximately $5 million in sales of which 85% was from the executive search consultants in Germany, Austria and Switzerland.
CTPartners is a leading global executive search firm that is designed to deliver in-depth expertise, creative strategies, and outstanding results to clients worldwide. Committed to a philosophy of partnering with its clients, CTPartners offers a proven track record in C-Suite, top executive, and board searches, as well as extensive experience in serving private equity and venture capital firms.
From its 30 offices in 18 countries, CTPartners serves clients with a global organization of more than 500 professionals and employees, offering expertise in board advisory services, key leadership functions, and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries.
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