Acuren Corp (TIC) shares surged 5.19% in intraday trading on Friday, building on the previous day's gains following two significant announcements: a $1.7 billion merger agreement with NV5 Global Inc (NVEE) and the release of its first quarter 2025 financial results.

The merger deal, announced on Thursday, will create a global powerhouse in the Testing, Inspection, Certification, and Compliance (TICC) and engineering services sectors. Under the terms of the agreement, NV5 shareholders will receive $23 per share, consisting of $10 in cash and $13 in Acuren common stock. Upon completion, Acuren shareholders will own approximately 60% of the combined entity, while NV5 shareholders will hold the remaining 40%. The merger is expected to be immediately accretive to Acuren, with anticipated cost synergies of $20 million.

Adding to the positive sentiment, Acuren reported its Q1 2025 financial results, showing a 5.0% increase in revenue to $234.2 million compared to the same period last year. The company highlighted a strong 7.2% organic growth, demonstrating the resilience of its recurring revenue streams. Despite reporting a net loss of $25.9 million for the quarter, Acuren reaffirmed its full-year 2025 outlook, expecting revenue growth in the low-to-mid-single digit percentage range. The combination of the strategic merger announcement and the solid Q1 performance appears to have boosted investor confidence in Acuren's future prospects, driving the significant stock price increase observed on Friday.