Heidrick & Struggles International announced that it has completed the acquisition of all of the issued and outstanding shares of Amrop A/S, a Copenhagen-based provider of executive search and leadership consulting.

Under the terms of the share purchase agreement, Heidrick & Struggles paid Amrop DKK 24.3 million (USD 3.9 million) at closing, subject to certain adjustments, and expects to pay Amrop DKK 28.0 million (USD 4.5 million) of additional cash consideration based on fee revenue generated by the business during the two-year period following the completion of the acquisition. Total aggregate consideration is estimated to be DKK 52.3 million (USD 8.4 million).

The group adds that the actual amount of additional cash consideration cannot be determined at this time.

According to an SEC filing, the firms entered into the definitive agreement on 19 September.

All five Amrop Denmark partners are expected to join Heidrick & Struggles' Copenhagen office as partners. The firms expect the combined organisation will be the largest leadership advisory firm in the Danish market with nine client-facing consultants and a total of 37 employees.