M&A · Industrials · Services-Engineering Services
H.I.G. Capital to acquire Mistras Group, Inc.
Announced Sep 18, 2026 · Pending Oct 15, 2026
Deal value$866MEV $866M
Premium2.6%To unaffected price
EV / Adj. EBITDA8.8x1.2x EV / Revenue
ConsiderationAll cash$20.35 per share
Transaction
- Acquirer
- H.I.G. Capital
- Target
- Mistras Group, Inc. (MG)
- Buyer type
- Private equity
- Offer price per share
- $20.35
- Enterprise value
- $866M
- Status
- Pending Oct 15, 2026
Deal protections
- Break fee (target pays)
- $27.5M · 3.2%
- Reverse fee (buyer pays)
- $49.9M · 5.8%
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Texas Capital Securities
- To the target
- Baird
- Baird fee
- $13.0M
Sector context · Industrials
- Comparable deals
- 96 in the prior 24 months
- Premium
- 2.6% vs. 37.5% sector median
- EV / Adj. EBITDA
- 8.8x vs. 11.8x sector median
- Break fee
- 3.2% vs. 2.8% sector median
Timeline
- AnnouncedSep 18, 2026
- Proxy filedOct 15, 2026
- Definitive proxyOct 27, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Other analysis$15.37$27.92
Other analysis$13.82$25.85
Other analysis$21.63$23.33
Discounted cash flow$18.52$24.16
Offer $20.35
Implied value per Mistras Group, Inc. share by analysis, from Baird.