Acuren Corp (TIC) shares surged 5.11% in intraday trading on Thursday, following the announcement of a $1.7 billion merger agreement with NV5 Global Inc (NVEE). This strategic move is set to create a global powerhouse in the Testing, Inspection, Certification, and Compliance (TICC) and engineering services sectors.
Under the terms of the deal, NV5 shareholders will receive $23 per share, consisting of $10 in cash and $13 in Acuren common stock. The merger is expected to be immediately accretive to Acuren, with anticipated cost synergies of $20 million. Upon completion, Acuren shareholders will own approximately 60% of the combined entity, while NV5 shareholders will hold the remaining 40%.
The positive market reaction comes despite Acuren reporting a net loss of $25.9 million for the first quarter of 2025. However, the company's revenue increased by 5% to $234.2 million, driven by deeper service line penetration with recurring customers and market share gains. Acuren also reiterated its 2025 outlook, projecting revenue growth in the low-to-mid-single digit percentage range compared to 2024. The merger with NV5 is seen as a strategic move to enhance Acuren's market position and drive future growth in the TICC industry.
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