NV5 Global, Inc. Completes Merger Approval with Acuren

NV5 Global, Inc. Achieves Key Milestone in Merger Plans

NV5 Global, Inc. (Nasdaq: NVEE), a leading provider of tech-enabled engineering, testing, inspection, and consulting solutions, has marked an important achievement in its planned merger with Acuren Corporation. Stockholders of NV5 have given their approval during a Special Meeting, ensuring that the merger can proceed as intended.

Merger Details and Financial Implications

The merger agreement, established on May 14, outlines that NV5 stockholders will receive roughly $23.00 per share. This consists of $10.00 in cash alongside $13.00 in shares of Acuren common stock upon closing. Interestingly, the merger will lead to NV5 stockholders collectively owning about 40% of the new entity while Acuren stockholders will have approximately 60%. This structure aims to balance the interests of both companies as they join forces.

Future Ownership Structure

After the merger, the new company will benefit from a robust ownership framework. By integrating Acuren’s resources, NV5 expects to bolster its position in the built environment sector, enhancing overall service offerings and reaching a broader client base.

Expected Timeframe for Closing the Merger

The transaction is nearing its completion, with an expected closing in August. This timeline emphasizes the urgency and commitment both companies have to finalize the merger while adhering to customary closing conditions. Stockholder approval has paved the way for financial and operational integration.

Strategic Advantages from the Merger

Combining NV5 with Acuren is anticipated to generate significant strategic advantages. The merger will enhance NV5’s capabilities in providing comprehensive engineering and inspection services. Both companies aim to leverage their combined expertise to better serve existing clients and attract new ones, ultimately positioning themselves as leaders in their industry.

Importance of Stockholder Engagement

The positive response from stockholders showcases strong confidence in this merger. Such engagement is vital for the success of significant corporate transitions, like mergers and acquisitions. The participation of shareholders reflects their belief in the strategic direction that NV5 is undertaking through this merger with Acuren.

Risks and Considerations Ahead

While the future looks promising, it’s essential to acknowledge the inherent risks involved in major business transitions. Factors such as regulatory approvals, market conditions, and operational integration challenges could impact the timeline and success of the merger. Therefore, NV5 is committed to diligent planning to navigate these uncertainties effectively.

Contact Information for Inquiries

For further questions or detailed information regarding the merger and its implications, interested parties can connect with NV5 Global, Inc.:

Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-80483
Email: ir@nv5.com

Frequently Asked Questions

What is the primary benefit of the NV5 and Acuren merger?

The merger aims to enhance service offerings and combine expertise in engineering and consulting, benefiting a larger client base.

How will stockholders be compensated in the merger?

Stockholders will receive approximately $23.00 per share, which includes cash and Acuren stock.

When is the expected closing date for the merger?

The merger is expected to close promptly in August after meeting the necessary conditions.

What percentage of the new company will NV5 stockholders own?

Pre-Merger NV5 stockholders are expected to own about 40% of the combined company.

Who can be contacted for more information about the merger?

Jack Cochran from NV5 Global, Inc. is the point of contact for inquiries regarding the merger.

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