Heidrick & Struggles to acquire New Jersey-based firm
Philosophy IB was established in 2000 by founding partners, Christine Lotze and Kaveh Naficy. Today it serves Fortune 100 companies, focused on helping clients execute their strategies by changing how people work. Twenty-five employees will join Heidrick & Struggles—including Lotze, Naficy and Stephen Tavares as partners—when the transaction closes following the completion of customary closing conditions.
Tracy R. Wolstencroft, Heidrick & Struggles' president and chief executive officer, said, "We continue to use M&A as a vehicle to accelerate our strategy of delivering premium leadership advisory solutions and data-driven insights to the highest levels of leadership at top organizations globally.”
This will be Heidrick & Struggles' fourth strategic acquisition in less than a year—and the third for the firm's global Leadership Consulting business, including Co Company Ltd. last October and Decision Strategies International, Inc. in February.
Wolstencroft added, "We continue to invest in the development of a diversified portfolio of leadership advisory and culture solutions as we partner with boards and senior executives to improve individual, team and organizational performance.
"The addition of Philosophy IB brings further scale to our Leadership Consulting business, enhancing our ability to help clients and their leadership teams accelerate strategy and performance."
Lotze commented, "We join Heidrick & Struggles excited about the opportunity to expand our ability to help clients advance their agenda for transformation by changing how people work.
"We also see opportunity to meaningfully contribute to the firm's product development team as clients seek new analytic tools and technologies to support better ways of working and collaborating."
Colin Price, Heidrick & Struggles executive vice president and managing partner—leadership consulting, said, "The Philosophy IB team has an excellent reputation for helping clients formulate their human capital strategy, align and connect leaders at all levels, and then deliver coaching on the most lasting behavioral aspects of leadership.”