M&A
confidence high
sentiment neutral
materiality 1.00
Acuren to acquire NV5 Global for ~$23/share cash-and-stock; $875M debt financing secured
TIC Solutions, Inc.
- NV5 shareholders receive $10 cash plus ~$13 in Acuren stock per share, subject to collar adjustments.
- Termination fee of ~$48.6M payable by either party under certain conditions (reduced to ~$24.3M for NV5 go-shop exits).
- Acuren obtained $875M debt commitment ($850M term loan + $25M revolver) from existing lenders.
- NV5 has 60-day go-shop period through July 14, 2025 to solicit alternative proposals.
- Voting support agreements cover ~16.7% of NV5 shares and ~44.7% of Acuren shares.