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CTPartners completes acquisition of Austria-based firm

December 01, 2014

CTPartners Executive Search Inc. (NYSE MKT: CTP) completed its acquisition of Austria-based executive search firm Neumann.

The transaction closed Dec. 1 and includes offices in Germany, Austria and Switzerland as well as across Eastern Europe. Terms were not disclosed.

The company signed a letter of intent in October to acquire the executive search and leadership consulting firm.

Neumann brings 13 offices to CTPartners for a total of 44 offices in 24 countries. CTPartners also added 21 partners and principals and other staff.

“Neumann provides us with recognition and expertise in the German-speaking markets while our global platform provides Neumann’s clients access in the North American, Latin American and Asian markets,” said CEO Brian Sullivan. “Our two businesses share common cultures and principles, we anticipate we will be able to join forces and ramp up quickly. The acquisition is consistent with our growth strategy of acquiring firms in targeted regions.”

New York-based CTPartners ranks No. 7 on Staffing Industry Analysts’ list of largest US retained search firms.