– Merger creates a market-leading North American provider of Testing, Inspection, Certification and Compliance (TICC) and Engineering Services
– Expands ability to deliver complementary services to a broader customer base, enhancing growth and cross-selling opportunities
Acuren Corporation (the “Company” or “Acuren”, NYSE: TIC), a leading provider of tech-enabled Testing, Inspection, Certification, and Compliance (TICC) services and critical asset integrity solutions, today announced the successful completion of its previously announced combination with NV5 Global, Inc. (“NV5”, NASDAQ: NVEE). With over $2 billion of revenue, this transaction creates a market-leading North American provider of TICC and engineering services, enhancing Acuren’s ability to serve both new and existing customers across critical industrial assets, public infrastructure, and the built environment.
In addition, the Company announced the appointment of three new directors to its Board of Directors: Dickerson Wright, former Executive Chairman of NV5, Ben Heraud, former CEO of NV5, and Byron Roth, Executive Chairman of Roth Capital Partners. Ben Heraud has also been appointed President and Chief Operating Officer of Acuren and will be providing leadership to the Company’s three newly formulated operating segments: Inspection and Mitigation, Engineering and Lab, and Geospatial.
“This is a defining moment for both companies,” said Tal Pizzey, Chief Executive Officer of Acuren. “Today marks the beginning of a new chapter as we unite two proven operators with collective expertise across the asset integrity life cycle. By bringing together Acuren’s deep industrial and maintenance acumen with NV5’s engineering and geospatial strengths, we’ve created a business uniquely positioned to serve a broader set of customers across the entire asset lifecycle.”
“This combination enhances our recurring revenue base, unlocks compelling cross-sell potential, and sets us up for long-term growth as a leading North American player in our sector,” Pizzey continued. “I’m proud of the teams that brought us here and am energized by what this scale provides for our customers, employees, and investors. We are excited to move forward as one team, delivering on the synergies and growth potential that lie ahead.”
The completion of this transformative transaction aligns with Acuren’s strategic objectives to broaden its service offerings, diversify its end-market exposure, and expand its global reach. Together, the businesses will serve a wide range of high-value sectors including infrastructure, energy, utilities, government, and data centers, with over 11,000 employees across more than 230 locations.
“We expect meaningful synergy capture through cross-selling, corporate cost optimization, and complementary geographic footprint, while delivering strong free cash flow and a swift deleveraging to below three times net leverage. It is our intent to present a comprehensive strategic plan to investors after completing our internal review and planning process,” said Robert Franklin, Executive Chairman of Acuren. Tal Pizzey and Ben Heraud will join Robert Franklin and Sir Martin Franklin (Co-Chairman of Acuren) in a newly formed Office of the Chairmen to provide aligned, collaborative strategic leadership.
“This transaction brings together two organizations with a shared commitment to excellence, innovation, and a strong people-first culture,” said Dickerson Wright, former Executive Chairman of NV5. “NV5 has built a strong reputation for technical leadership across infrastructure, utility, buildings & technology, environmental, and geospatial services. I am confident that Acuren is the ideal partner to extend that legacy, preserve our culture, and deliver enhanced value to our shareholders and stakeholders. The combined business is well-positioned to unlock new growth opportunities, and I’m excited to support its continued success as a member of the Acuren Board.”
NV5 Stockholders will receive $23.00 per share, consisting of $10.00 in cash and 1.1523 shares of Acuren Common Stock for each share of NV5 Common Stock. This represents an enterprise value of approximately $1.7 billion, including full repayment of NV5’s outstanding debt. The final exchange ratio was calculated based on the volume-weighted average price (VWAP) of Acuren’s common stock of $11.28 for the 10-trading day period ended August 1, 2025.
The transaction was approved by the stockholders of each of Acuren and NV5 at their respective stockholder meetings on July 31, 2025. The closing of the transaction follows the receipt of required regulatory approvals in all applicable jurisdictions. NV5’s common stock has ceased trading immediately prior to market open on August 4, 2025, and will no longer be listed on the NASDAQ. Acuren’s common stock will continue to be listed on the New York Stock Exchange with the ticker symbol TIC.
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