Acuren, NV5 Merge In $1.7 Bln Deal, NVEE Up Over 19% In Pre-market

(RTTNews) - Acuren Corp. (TIC) and NV5 Global, Inc. (NVEE) announced on Thursday that they have inked a merger to create a TICC and engineering services company with combined revenue of over $2 billion.

The total consideration for NV5 is approximately $1.7 billion. The merger, to be closed in the second-half of 2025, is expected to be immediately accretive to Acuren stockholders.

Under the terms, NV5 stockholders will receive $23 per NV5 share, which is comprised of $10 in cash and $13 in stock. This is based on the 5-day volume weighted average price of Acuren's share price on May 14, which represents a 32 percent premium to NV5's 30 day VWAP as of May 14.

The cash portion of the acquisition will be funded by an $850 million term-loan and cash on hand. All of NV5's will be repaid in connection with the merger.

Post-transaction, Acuren stockholders will own around 60 percent, while NV5 stockholders will own approximately 40 percent of the combined company.

Further to the merger, Dickerson Wright, Executive Chairman and Founder of NV5, and Ben Heraud, CEO of NV5 will be joining the Board of Acuren.

Robbie Franklin, Co-Chairman of Acuren said, "The combination of these two formidable organizations creates new opportunities to expand and complement each other's business lines with adjacent services to drive increased wallet share from our broad customer base. This transaction is an important milestone in our journey to becoming a full service global TICC company."

TIC was up by 13.43% at $11.99 per share in the pre-market trade on the New York Stock Exchange.

NVEE was also up by 19.36% at $22.50 per share in the pre-market trade on the Nasdaq.