Caldwell and IQTalent Partners Merge to Create Technology-Powered Talent Acquisition Firm

-Combined teams will leverage expertise,advanced artificial intelligence to specialize in all levels of professional recruitment-

TORONTO and NASHVILLE,Tenn.,Dec. 23,2020 -- Retained executive search firm Caldwell (TSX: CWL) has signed a definitive agreement to acquire IQTalent Partners,a talent acquisition and recruitment firm offering consulting,candidate sourcing,candidate research,and full-cycle recruiting to its clients,with an anticipated close date of December 31,2020. The companies will combine to create a technology-powered talent acquisition firm specializing in recruitment at all levels,driving growth and increased profitability for both.

"For 50 years,Caldwell has been connecting clients with transformational talent. With this merger,we are setting our sights on transforming the world of talent," said John Wallace,chief executive officer of Caldwell. "IQTalent Partners' unique service model and innovative use of technology,paired with Caldwell's expertise,network and resources will allow us to serve our clients in a more integrated fashion and allow us to have a greater impact on their long-term success,which remains our primary mandate."

Founded in 2009,IQTalent Partners provides talent acquisition solutions in a scalable and adaptable on-demand format. Leveraging a unique recruiting services model,the firm has partnered with more than 300 corporations from Fortune 500s to startups across a wide range of industries and functions throughout North America,Europe,Australia,Asia and South America.

IQTalent Partners recently launched IQTalent Xchange,an original market concept using advanced artificial intelligence combined with human expertise to create a passive candidate marketplace. The proprietary platform includes more than 300 million global professionals,offering its customers unprecedented access to the most qualified candidates.

"At IQTalent Partners our mission is to find a better way for companies and candidates to find a match," said David Windley,chief executive officer of IQTalent Partners. "The merger with Caldwell strengthens our offerings to our clients at the executive search level and expands our access to a wider range of industry expertise,giving our clients one trusted go-to partner for their professional level recruiting needs,all the way through to the C-suite and Boardroom."

Windley added: "IQTalent Partners has seen explosive growth in the last six years,with a CAGR of 45% per year. Coupled with the power,network and resources of Caldwell,we expect to see accelerated growth."

Operating as two distinct brands with two different service offerings and pricing models,the two firms will take a collaborative approach to provide a unified and seamless client experience.

Wallace continued: "Caldwell has a history of forward-thinking strategy – in 2009 when many firms in the recruitment industry contracted,we leveraged our financial strength to establish new sector practices and a significant presence in the US market,more than doubling our revenue-producing potential and sparking a decade of continuous growth,chief executive officer of Caldwell. "We are confident that this is an investment in innovative models and technologies,and that combining our resources,network and team with the those of IQTalent Partners will drive a new and even more impressive era of growth."

About Caldwell

At Caldwell we believe Talent Transforms. As a leading provider of executive talent,we enable our clients to thrive and succeed by helping them identify,recruit and retain their best people. Our reputation–nearly 50 years in the making–has been built on transformative searches across functions and geographies at the very highest levels of management and operations. We leverage our skills and networks to also provide agile talent in the form of flexible and on-demand advisory solutions for companies looking for support in strategy and operations. With offices and partners across North America,Europe and Asia Pacific,we take pride in delivering an unmatched level of service and expertise to our clients.

Caldwell's Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at www.caldwellpartners.com for further information.

About IQTalent Partners

IQTalent Partners,Inc.,is a talent acquisition and executive search firm offering consulting,and full cycle recruiting to its clients. It uses a unique on-demand business model in which IQTP augments the client's in-house talent acquisition team in a partnership without commissions or long-term contracts. Founded in 2009 with a mission to find a better,more cost-effective,and efficient way for organizations and candidates to find a match,the company has partnered with more than 300 corporations from Fortune 500s to startups.

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