In Memoriam: Bo Hjelt (1935–2026)

It is with profound sadness that we announce the passing of Bo Hjelt, founder and inspirational leader of CDI Global, who celebrated his 91st birthday earlier this year.

Bo’s vision, entrepreneurial spirit, and commitment to finding the right solutions for clients shaped CDI Global over more than five decades. His influence extended far beyond the firm he founded, touching the lives of colleagues, clients, young professionals, and the many people and causes he supported throughout his life.

A Life of International Experience and Achievement

Born in Finland in 1935, Bo was a Swedish citizen who lived and worked around the world during his distinguished career. He graduated from Indiana University in the United States on a Swedish American Foundation Fellowship, where he was also a member of the university’s swimming team. He subsequently earned an MBA after studying at Hautes Études Commerciales (HEC) and the Centre d’Études Industrielles in Switzerland. Early in his career, he also served for three years as an officer in the Swedish Army.

Bo was an only child. Following his father’s death, his mother offered him advice that would become a guiding principle throughout his life: “Now that your father is dead, your destiny is in your own hands. If you succeed, you will not have to thank anyone. And if you fail, you will have no one to blame. Do it yourself.”

Those words captured the independence, determination, and personal responsibility that defined Bo’s approach to business and life.

Bo began his professional career in the 1960s, holding management positions at Svenska Metallverken, a prominent Swedish company in the non-ferrous metals industry that later became part of the global Electrolux Group. His responsibilities included serving as Sales and Marketing Director for Europe.

The Founding of CDI Global

In 1973, Bo founded Corporate Development International, the M&A advisory firm that would become CDI Global. Reflecting on the company's origins at its 50th anniversary celebration in 2023, he recalled: “CDI saw the first light of day in 1973 when I decided to start a company with a totally new concept in the field of M&A.”

From its first office in Brussels, Belgium, CDI Global grew into an international network with approximately 50 offices and 300 employees. Over the decades, the firm has completed more than 3,000 transactions, building a global reputation for middle-market M&A advisory and cross-border collaboration.

Bo’s vision was grounded in what he called “Company Search”: an industrial and strategic approach to identifying the right buyer for the right business and creating the best possible outcome for each client. Rather than treating transactions as purely financial exercises, he believed in understanding businesses, identifying strategic fit, and finding solutions tailored to the people and companies involved.

Over five decades, that philosophy helped shape CDI Global’s approach to M&A advisory and remains central to the firm’s identity.

Bo was characteristically modest when reflecting on his success. “I was lucky,” he once said. Luck may have played a part, but his achievements were also the product of ingenuity, industrial acumen, long hours, and relentless hard work.

Among his notable transactions during the 1980s were the acquisitions of Aussedat-Rey and Zanders Feinpapiere by International Paper. Throughout his career, Bo worked directly with company presidents and completed more than 150 deals of his own, including approximately ten involving Kone Oyj.

In 2005, Bo retired from his active duties at CDI Global and became Chairman Emeritus for life. Until his passing, he remained the firm’s Honorary Chairman, continuing to offer guidance, mentorship, and perspective to its leaders. During his later years, he remained deeply engaged with the business he had created, sharing his wisdom on the opportunities and challenges facing the firm.

“I like people. This job is fun,” Bo said. “Throughout my career, I have spent a lot of time thinking about how to shape ideas in a way that leads to new business.”

That combination of intellectual curiosity, entrepreneurial instinct, and genuine enjoyment of working with people was fundamental to his success.

A Passion for People and Mentorship

Bo’s influence extended well beyond transactions and business strategy. He believed in the potential of young people and took great pleasure in helping them develop their talents.

One of his best-known initiatives was “Bosses sommarbarn,” or “Bo’s summer children,” through which students came to work at Corporate Development to gain practical business experience. During the 1980s, Bo mentored more than 100 students, encouraging their creativity and helping introduce them to the world of business.

“I enjoyed mentoring young people and seeing their creativity come to life,” he said.

His commitment to mentorship reflected a broader philosophy: that business was ultimately about people, ideas, relationships, and the opportunities created when they came together.

Bo also served on the boards of several listed companies and other organizations. These included Svenskar i Världen (“Swedes Overseas”), IMI Kiev, the first MBA school in Ukraine, and the International Federation for Spina Bifida and Hydrocephalus.

A Life Beyond Business

Bo was a man of many talents and interests. Fluent in Swedish, Finnish, German, French, Spanish, and English, he was equally at home across cultures and international settings.

His achievements extended to sports. Upon graduating from high school in 1954, he received an award recognizing him as Sweden’s best sportsman of the year. An accomplished swimmer, he also played first-division handball and ranked among the top three competitors in the Swedish junior javelin championship.

Like many Swedish men of his generation, Bo was also a passionate hunter. His moose-hunting exploits became the stuff of legend among those who knew him.

These interests reflected the energy, competitive spirit, and enthusiasm that characterized Bo throughout his life. Whether in business, sport, or the outdoors, he approached his pursuits with determination and a genuine appetite for challenge.

A Lasting Commitment to Philanthropy

Alongside his professional achievements, Bo devoted considerable time and resources to philanthropic causes, particularly medical research and the arts. His philanthropy was deeply personal, shaped by his own family experiences and a desire to make a lasting difference.

In 1987, following the loss of his daughter Madeleine to spina bifida, Bo established the Bo Foundation for Spina Bifida in her memory. The foundation supported research aimed at preventing and ultimately curing the condition. In its early years, Corporate Development Partners contributed a percentage of their earnings to support the foundation’s work, which contributed to advances in spina bifida prevention.

Bo’s commitment to medical research continued after he was diagnosed with diabetes. In 2008, he established the Bo and Kerstin Hjelt Diabetes Foundation to fund research at two leading European universities in Sweden and Switzerland. The foundation supports efforts to better understand, prevent, and treat type 2 diabetes, including research into genetic factors and disease risk.

In recognition of his contributions to diabetes research, Bo received an honorary doctorate in medicine, Doctor Honoris Causa, from Lund University in 2019.

Bo also supported the preservation and appreciation of art. After inheriting his father’s Finnish art collection, he donated most of the works to Åbo Akademi University in 2006. He also made donations to the Serlachius Museum in Mänttä and Ateneum, the National Gallery of Finland in Helsinki. In 2008, his art foundation donated five sculptures by Gudmar Olovson to the Falsterbonäset Open Air Museum.

Through these initiatives, Bo helped advance medical research, preserve cultural heritage, and create opportunities for future generations. His philanthropy reflected the same qualities that distinguished his professional life: initiative, generosity, and a belief in the value of long-term investment in people and ideas.

A Legacy That Will Endure

At heart, Bo was charismatic, charming, optimistic, and generous. Clients were drawn to his creativity and professional expertise, but they also valued the personal trust and rapport he built with them. His confidence and enthusiasm were larger than life, and his ability to turn ideas into opportunities left a lasting impression on everyone who worked with him.

For generations of CDI Global partners and employees, Bo was more than a founder. He was a mentor, a source of inspiration, and a constant reminder of the principles on which the firm was built: entrepreneurial thinking, international collaboration, deep understanding of businesses, and an unwavering commitment to clients.

His legacy lives on not only in the thousands of transactions completed by CDI Global, but also in the people he mentored, the causes he supported, and the values he instilled in the organization he created.

As CDI Global reflects on Bo’s extraordinary life, we extend our deepest gratitude for everything he contributed to the firm, its clients, and the many philanthropic causes he championed. His vision helped build an international organization that continues to bring businesses and people together across borders, and his example will continue to guide future generations.

Thank you, Bo, for everything you gave to CDI Global and to the world around you. Your influence will endure, and you will never be forgotten.

Godspeed, Bo.

Bo Hjelt (1935–2026)