Toronto based executive search firm The Caldwell Partners International Inc. (TSX: CWL) today announced a significant expansion into Latin America by forming a strategic alliance with CPGroup Latam Ltd., 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 seven offices across Latin America and Florida, including 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’ search methodology, processes, training and intellectual property in order to perform search execution consistently across all regions, providing a unified offering internationally to all clients.
Firm adds new offices in Bogota, Caracas, Lima, Mexico City, Miami, São Paulo and Santiago
“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
- CaliSanta 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 caliber 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).