M&A · Industrials · Services-Miscellaneous Business Services
Acuren Corp to acquire NV5 Global, Inc.
Announced May 15, 2025 · Closed Aug 4, 2025
Deal value$1.70BEV $1.71B
Premium—To unaffected price
EV / Adj. EBITDA11.8x1.8x EV / Revenue
ConsiderationCash and stock$23.00 per share
Transaction
- Acquirer
- Acuren Corp (TIC)
- Target
- NV5 Global, Inc.
- Buyer type
- Strategic
- Offer price per share
- $23.00
- Enterprise value
- $1.71B
- Status
- Closed Aug 4, 2025
Deal protections
- Break fee (target pays)
- $48.6M · 2.9%
- Reverse fee (buyer pays)
- $48.6M · 2.9%
- Go-shop
- 60-day go-shop
- Financing
- Committed · Jefferies
Advisors
- To the acquirer
- Jefferies
- To the target
- Roth Capital
- Baird fee
- $1.5M
Sector context · Industrials
- Comparable deals
- 88 in the prior 24 months
- Premium
- Sector median 38.5%
- EV / Adj. EBITDA
- 11.8x vs. 9.1x sector median
- Break fee
- 2.9% vs. 2.7% sector median
Timeline
- AnnouncedMay 15, 2025
- Proxy filedJul 2, 2025
- Definitive proxyJul 2, 2025
- Shareholder voteJul 31, 2025
- ClosedAug 4, 2025
Valuation · fairness opinions
Trading comparables$15.34$35.37
Precedent transactions$20.32$30.97
Precedent transactions$14.86$27.07
Discounted cash flow$18.28$29.31
Trading comparables$10.01$11.44
Offer $23.00
Implied value per NV5 Global, Inc. share by analysis, from Baird · DCF discount rate 9%–11%.