Shares of Heidrick & Struggles International surged 20% on Monday, after the executive search firm agreed to be taken private in a deal by a consortium of investors, including Advent International and Corvex Private Equity.

The stock, which hit its highest level in more than 24 years, is set for its biggest one-day percentage gain since February 2019.

The consortium will acquire all of the Chicago-based firm’s outstanding shares for $59 apiece, valuing Heidrick & Struggles at $1.3 billion.

The price represents a premium of more than 21% to the company’s last close of $48.68.

CEO Tom Monahan will continue to lead Heidrick & Struggles after it becomes a privately-held entity, with the transaction expected to close in the first quarter of 2026, subject to approval.

The move comes a month

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