Acuren Corporation (TIC) entered a merger agreement on May 15, 2025, to acquire NV5 Global, Inc. (NVEE) in a deal valued at $1.7 billion.
Under the terms of the agreement, NV5 stockholders will receive $23 per share, comprised of $10 in cash and $13 in Acuren common stock, subject to adjustment based on the 5-day volume-weighted average price (VWAP) of Acuren’s shares.
The number of Acuren shares to be issued at closing will be determined using a floating exchange ratio calculated as $13 divided by the 10-day VWAP of Acuren’s stock prior to closing (Closing Price), with a floor of $9.53 and a ceiling of $11.65 per share. If the Closing Price is at or below $9.53, NV5 stockholders will receive 1.3636 Acuren shares per NV5 share. If the Closing Price is at or above $11.65, they will receive 1.1157 Acuren shares per NV5 share.
The consideration of $23 per share represents a premium of 22.02% from the stock’s last close.
NV5 is a leading provider of technology-enabled engineering, consulting, and geospatial solutions, serving public and private sector clients across infrastructure, utility, environmental, and building markets in the U.S. and internationally.
Acuren is a leading provider of asset integrity services, specializing in testing, inspection, and certification (TIC) for industrial clients across North America, including nondestructive and destructive testing for compliance and maintenance.
Last month, Bloomberg reported that NV5 had attracted takeover interest from Acuren. Prior to the report, NV5’s stock was trading at $16.06.
Upon closing of the transaction, expected in the second half of 2025, current Acuren stockholders will own about 60%, and current NV5 stockholders will own the remaining 40% of the combined company.
The Founder of NV5, Dickerson Wright, and CEO Ben Heraud are expected to join Acuren’s Board, along with one additional independent director mutually agreed upon by both companies.
The cash portion of the acquisition will be financed through a fully committed $850 million term loan facility and available cash on hand.
The Merger Agreement includes a 60-day “go-shop” period for NV5, expiring on July 14, 2025.
Roth Capital Partners served as financial advisor to NV5 Global, while Loeb & Loeb provided legal counsel. Jefferies acted as financial advisor to Acuren, with Greenberg Traurig P.A. serving as legal counsel.
Acuren is paying 14.01 times EBITDA for NV5 Global.
To dive deeper into the specifics of this merger and acquisition deal, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of NV5 Global, Inc. (NVEE) by Acuren Corporation (TIC)
The Deal Metrics page for each merger or acquisition includes:
– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And much more.
Disclaimer: This article is for informational purposes only. Please conduct your own research and due diligence before engaging in any buying or selling of mentioned securities. We do not guarantee the accuracy or completeness of the data or content provided in this article.
Editor’s Note: Baranjot Kaur contributed to this article