NV5 stockholders approve merger with Acuren Corporation

HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ:NVEE), a $1.49 billion market cap company with impressive gross margins of 51% and healthy revenue growth of ~9% over the last twelve months, announced Thursday that a majority of its stockholders have voted to approve the proposed merger with Acuren Corporation at a Special Meeting of Stockholders.

Under the terms of the merger agreement dated May 14, 2025, NV5 stockholders will receive approximately $23.00 per share, consisting of $10.00 in cash and $13.00 in Acuren common stock at closing. This payment structure is subject to potential adjustment due to a 10% collar feature.

Following the completion of the merger, pre-merger NV5 stockholders are expected to collectively own up to approximately 40% of the combined company’s common stock on a pro forma basis, while pre-merger Acuren stockholders will own approximately 60%.

The transaction, which remains subject to customary closing conditions, is expected to be finalized in August 2025.

NV5 Global provides tech-enabled engineering, testing, inspection, and consulting solutions for the built environment. The merger announcement was made in a company press release statement. For detailed financial analysis and additional insights about NV5 Global, investors can access the full InvestingPro report, which includes 10 more exclusive ProTips and comprehensive valuation metrics.

In other recent news, NV5 Global, Inc. announced it has secured over $20 million in engineering design and construction management contracts from the New York City Department of Parks and Recreation. These contracts will aid in enhancing parks and recreational facilities across New York City’s five boroughs. Additionally, NV5 has been awarded a $10 million contract by the North Carolina Department of Transportation to provide geospatial and utility services for infrastructure projects. This two-year agreement includes advanced data collection and mapping solutions to support transportation design and planning in North Carolina.

Furthermore, NV5 has expanded into the South Korean data center market through a partnership with SA Bricks, focusing on commissioning and energy management for data centers. This strategic move aims to leverage the growing demand for cloud computing and AI, enhancing NV5’s presence in the hyperscale data center sector. In corporate developments, NV5 has amended the employment agreements of three key executives, introducing "good leaver" provisions to align with corporate governance practices.

In the financial sector, William Blair analysts downgraded NV5’s stock rating from Outperform to Market Perform. This follows NV5’s announcement of a definitive agreement to merge with Acuren Corporation in a $1.7 billion deal. The merger is expected to create a full-service global Testing, Inspection, Certification, and Compliance firm with a projected EBITDA of $350 million for 2024, including $20 million in anticipated synergies.

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