Heidrick & Struggles International Inc (NASDAQ: HSII) shares climbed 20% on Monday after the executive search company agreed to be taken private in a deal valued at $1.3 billion, or $59 per share.
Heidrick & Struggles will be bought by a consortium of investors, including Advent International and Corvex Private Equity.
The transaction expected to close in the first quarter of 2026, subject to approval, and current CEO Tom Monahan will continue to run the company when it becomes privately held.
In August, Heidrick & Struggles reported second-quarter revenue that rose 13.9% year over year to $317.2 million, exceeding Wall Street estimates.
Heidrick & Struggles stock, which reached its highest level in more than 24 years, has gained about 32% year to date to its current price of $58.30 per share.