Toronto, Ontario– July 13, 2015 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) (“Caldwell Partners”) today announced a significant expansion into Latin America by forming a strategic alliance with CPGROUP LATAM Ltd. (“CPGROUP LATAM”), a company founded by the partners that established and led the Latin American operations of CTPartners. Through this alliance, Caldwell Partners extends its global presence with 16 partners in 7 offices across Latin America and Florida – Bogota, Colombia; Caracas, Venezuela; Lima, Peru; Mexico City, Mexico; São Paulo, Brazil; Santiago de Chile; and Miami, Florida – firmly establishing a footprint in an important new region.
Under the affiliation agreement, CPGROUP LATAM will operate exclusively under the Caldwell Partners brand and will have access to Caldwell Partners’ proprietary search methodology, processes, training and other intellectual property. As a result, search execution will be performed consistently and seamlessly across all regions, providing a fully unified offering internationally to all clients.
“We are truly excited to be joining forces with these impressive search teams,” said John N. Wallace, chief executive officer. “This is a huge step forward for our firm, as we continue to solidify our ability to conduct international and cross-border searches for our clients. The core of our strategy has always been fuelled by a focus on the continuous improvement of our service to our clients and the creation of sustainable value for our shareholders. This has been evident from the time we began our expansion into the United States 6 years ago, to the planting of our flag in the United Kingdom with our acquisition of Hawksmoor Search, to our entrance into the Latin American market today.”
“We share with Caldwell Partners common values and the passion for quality and superb client service commitment,” said Nestor D’Angelo, one of the founding partners of CPGROUP LATAM. “Caldwell’s international platform will enable us to leverage our Latin American regional knowledge and experience to our client’s global advantage.”
With the addition of the following partners and their teams through this strategic alliance, Caldwell Partners now provides services with 53 partners in 20 locations worldwide:
- Eduardo Antunovic, Managing Partner
- Karin Brandes, Managing Partner
- Jorge Caridad, Managing Partner
- Magui Castro, Managing Partner
- Nestor D’Angelo, Managing Partner
- Eduardo Taylor, Managing Partner
- Muriel Belda, Partner
- Natalia Borda, Partner
- Victoria Hyde, Partner
- Lucy Krell, Partner
- Alan MacDonald, Partner
- Maria Mejia, Partner
- Ana Cláudia Reis, Partner
- Cali Santa Maria, Partner
- Maria Alejandra Trujillo, Partner
- Arthur Vasconcellos, Partner
Wallace continued: “This is a pivotal moment for Caldwell Partners. With the alliance with this well-respected, high calibre search team, we are carving out a space for our firm as the premier alternative to the big firms. We have the breadth and depth to serve our clients on a global basis across the major industries, yet we are nimble enough to move more freely through the market and provide more direct accountability to our clients.”
Key terms of the alliance agreement include an initial term of five years and provides for CPGROUP LATAM to pay Caldwell Partners 2.25% of Latin American revenue for the first two years of the agreement and 4.25% in subsequent years. In exchange CPGROUP LATAM will have rights to use the Caldwell Partners brand, search process and methodology and related intellectual property. Additionally, should there be a change of control of Caldwell Partners during the first two years of the agreement, CPGROUP LATAM will have the right to terminate the alliance agreement and will be entitled to a dislocation and rebranding fee of $2.0 million (USD).
About Caldwell Partners
Caldwell Partners is a leading international provider of executive search and has been for more than 40 years. As one of the world’s most trusted advisors in executive search, the firm has a sterling reputation built on successful searches for boards, chief and senior executives, and selected functional experts. With offices and partners across North America, Latin America and in London, the firm takes pride in delivering an unmatched level of service and expertise to its clients. Caldwell Partners’ Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at www.caldwell.com for further information.
Forward-looking statements in this document are based on current expectations that are subject to significant risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the executive search industry, the ability of the company to execute its growth strategies, the performance of the Canadian domestic and international economies, and the company’s ability to retain key personnel. The Caldwell Partners assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
For further information, please contact:
Investors & Analysts:
Chris Beck, CPA, Chief Financial Officer
The Caldwell Partners International
+1 617 934 1843
Caroline Lomot, Director of Marketing
The Caldwell Partners International
+1 516 830 3535