Mistras Group to Be Acquired by H.I.G. Capital for $20.35/Share in $866M All-Cash Deal
MG has more than doubled off its 52-week low of $9.37 on elevated volume (9.3× avg).
Summary
Mistras Group entered into a definitive merger agreement to be acquired by H.I.G. Capital for $20.35 per share in cash, an $866 million enterprise value deal with a 40-day go-shop period and 31% of shares already committed via voting agreements.
Key Events · M&A and Partnerships · MG
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All-Cash Acquisition at $20.35/Share
H.I.G. Capital affiliates will acquire Mistras Group for $20.35 per share in cash, representing an enterprise value of approximately $866 million including outstanding debt.
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40-Day Go-Shop Period
The merger agreement includes a go-shop period expiring October 27, 2026, during which the board may actively solicit alternative acquisition proposals with the assistance of financial advisor Baird.
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Voting Agreements Cover 31% of Shares
Directors, named executive officers, and certain other stockholders holding approximately 31% of outstanding shares have entered into voting and support agreements to vote in favor of the merger.
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Termination Fee Structure
Company Termination Fee of $27.5 million (reduced to 50% for a superior proposal during the go-shop period); Parent Termination Fee of $49.9 million; Parent expense reimbursement up to $7.0 million.
Analysis · MG · Trade & Services
Mistras Group has agreed to be acquired by H.I.G. Capital for $20.35 per share in cash, representing an enterprise value of approximately $866 million including debt. The deal includes a 40-day go-shop period expiring October 27, 2026, during which the board can actively solicit superior offers — a meaningful shareholder-protection feature. Voting agreements already lock in approximately 31% of outstanding shares in favor of the transaction. Termination fees are substantial: $27.5 million payable by the Company if it walks for a superior proposal (halved during the go-shop), and $49.9 million payable by H.I.G. if it fails to close. The transaction is expected to close in late 2026 or early 2027, subject to stockholder approval and regulatory clearances. The stock trades near its 52-week high, and the $20.35 offer represents an 8% premium to the 30-day VWAP and 13% to the 90-day VWAP as of September 17, 2026.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 40.5% of the 331 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.36%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MG was trading at $20.75 on NYSE in the Trade & Services sector, with a market capitalization of approximately $660.9M. The 52-week trading range was $9.37 to $21.32. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.