Shares of Accelerant Holdings rose after the specialty insurance company had sharply higher second-quarter profit and revenue and said it agreed to be acquired by private-equity firm Thoma Bravo.

Shares were recently up 44% at $19.54.

Accelerant had second-quarter net income of $80 million, or 36 cents a share, up from $13.1 million, or 4 cents a share. Adjusted earnings were 32 cents a share.

Total revenue rose 63% to $356.9 million from $219.1 million a year earlier. Wall Street analysts expected $279.2 million.

Accelerant repurchased about 4.73 million Class A common shares for $66 million during the quarter and has about $123 million remaining under its share-repurchase authorization.

Earlier Thursday, Accelerant agreed to go private, for $20.25 a share in cash, in a deal with Thoma Bravo that is worth more than $4 billion.