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TOMBALL, Texas - Acuren Corporation (NYSE:TIC), a $1.36 billion market cap company with annual revenues of $1.11 billion, announced Thursday that its stockholders have overwhelmingly approved the issuance of common stock to NV5 Global, Inc. stockholders in connection with their pending merger. The vote took place at Acuren’s annual meeting on July 31, with 99.99% of votes cast supporting the stock issuance proposal. According to InvestingPro data, while Acuren isn’t currently profitable, analysts expect the company to return to profitability this year.
The approval represents a significant milestone in the merger process, which was initially announced on May 14, 2025. With a strong liquidity position reflected in its current ratio of 3.49, Acuren appears well-positioned for the transaction. Acuren CEO Tal Pizzey expressed gratitude to stockholders for their support and indicated the company plans to move quickly toward finalizing the transaction. InvestingPro subscribers can access 6 additional key insights about Acuren’s financial health and valuation metrics to better understand the merger’s potential impact.
"We thank our stockholders for their support for the business combination with NV5, and with this milestone now complete, we look forward to moving expeditiously toward closing," Pizzey said in a press release statement.
The merger is expected to close in August 2025, pending certain regulatory approvals. Acuren stockholders also approved all other resolutions presented at the meeting, including the reelection of all nominated directors. The company’s stock currently trades at $11.09, with analysts setting price targets ranging from $11.50 to $16.00 per share.
Acuren, which trades on the New York Stock Exchange, provides asset integrity services primarily in North America across various industrial markets. The company specializes in Testing, Inspection, Certification, and Compliance services, including Nondestructive Testing in both field and laboratory settings.
The merger agreement, dated May 14, 2025, involves Acuren, NV5, and two Acuren subsidiaries: Ryder Merger Sub I, Inc. and Ryder Merger Sub II, Inc. The transaction required majority approval of votes cast at the meeting to proceed.
In other recent news, Acuren Corporation announced a merger agreement with NV5 Global, Inc., which has captured significant attention. The company also released its first quarter 2025 financial results, reporting revenue of $234.2 million. This figure represents a 5% increase compared to the previous year and exceeded analyst expectations. Despite the revenue growth, Acuren reported a net loss of $25.9 million, or -$0.21 per share, contrasting with a net loss of $1.3 million from the same period last year. The merger and financial results are notable developments for the company. Analyst firms have not yet publicly upgraded or downgraded the stock following these announcements. These recent events highlight important aspects of Acuren’s current business situation.
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