US recruiting firm CTParners agrees to acquire German rival Farin & Co

US executive recruiter CTPartners Executive Search Inc (NYSEAMEX:CTP) said it had put its signature on a letter of intent (LoI) for the purchase of German-based peer Farin & Company.

CTPartners offered no information with regard to pricing arrangements between the parties or any other deal specifics such as conditions and timeframe for closure.

The target company is headquartered in Hamburg and focuses on executive recruitment, development and corporate learning. It was founded in 2010 by Annika Farin, who was a partner in a major multi-national headhunting firm before establishing her own company.

Farin will be put in charge of CTPartners’ German operations and made managing partner at the group. According to her, CTPartners has an unrivalled global platform and by becoming part of it, Farin & Company will be able to extend its reach and address the growing needs of its customers.

CTPartners’ chief executive Brian Sullivan stated that both companies were committed to quality and it was an exciting opportunity to have the dedicated and experienced team of Farin & Company on board.

The US firm has been in business for more than three decades and has customers all over the world. Its corporate headquarters are located in New York and it also operates 24 offices across 15 countries. CTPartners employs more than 400 people, serving clients in industries such as financial services, life sciences, retail, technology, media and telecommunications.