Lamson & Sessions
said Monday that it plans to explore strategic and financial alternatives, including a sale of the company.
The news sent shares of the electrical components maker up $1.73, or 6.5%, to $28.50.
The company hired Perella Weinberg Partners as financial adviser to help it in the process.
"Our hiring of a financial adviser is a continuation of our effort to thoroughly consider all opportunities for long-term shareholder value creation," Lamson & Sessions said. "We continue to believe that our superior products, markets and operations represent excellent potential for profitable growth."
In addition to a potential company sale, Lamson & Sessions said it is also evaluating the sale of assets, the formation of joint ventures, or a change to the company's capital structure.