Executive search firm Heidrick & Struggles International Inc. (NASDAQ: HSII) announced last week that it struck a deal to acquire a 100% stake in Atreus GmbH, a Munich, Germany-based firm that provides experienced interim C-suite-level executives for line, project and program management tasks.

The deal builds on Heidrick & Struggles’ leadership position in the on-demand talent space by expanding this offering into Continental Europe.

Financial terms of the transaction were not disclosed.

Founded in 2006, Atreus will continue to be led by co-CEOs Dr. Harald Linné and Rainer Nagel. It will operate as a wholly owned subsidiary of Heidrick & Struggles and join Heidrick’s current on-demand talent offering, which includes US-based Business Talent Group, acquired in 2021.

Atreus has a network of more than 15,000 interim executives. In the past year, it has carried out more than 400 projects for 250 clients in Germany and elsewhere.

Subject to the satisfaction or waiver of customary closing conditions, including obtaining applicable regulatory approvals, the acquisition is expected to occur early in the first quarter of 2023. 

Chicago-based Heidrick & Struggles is ranked by SIA as the second-largest retained search firm in the US.