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CTPartners Executive Search (CTP) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
CTPartners Executive Search (NYSE:CTP) is a global retained executive search firm. The company searches for executives out of its 21 global offices and 300 search professionals. CTPartners has conducted more than 4,400 executive searches for 1,400 distinct clients. The company makes money by charging a fee for each search in performs. For the year and half from January 2008 to June 2009, the company had a stick rate of 90%, meaning 90% of the executives it placed stayed in the position. CTPartner's average days to placement was 124 days.[1]
CTPartners expects that the increased competition for talent will continue to expand the executive search market. In addition, the rise of globalization pushes companies to require specific talent that can work in specific areas of the world. CTPartners believes that its global presences places it well to take advantage of this globalization and need for international executives.[2]
The company's initial public offering of stock on the NYSE occurred on December 7, 2010. The company offered 2.3M shares each for $13. The company's initial price range $12-$14. The IPO raised $30M for the company. The lead underwriters of the deal were William Blair and C.L. King & Associates.[3]
The company's total revenue fell to $74M in 2009, a 31% drop from the 2008 figure of $106M. CTPartners' total revenue also fell by 8% from 2007 to 2008. Despite these drops, CTPartners went from a $1.2M net loss in 2008 to a $4.8 profit in 2009.[4]
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