TIC Solutions Closes Three Acquisitions Adding $90M Annual Revenue
TIC sits 51% above its 52-week low of $6.36.
Summary
TIC Solutions completed three acquisitions—WDI, GeoVerra, and Core Group—adding roughly $90 million in annualized revenue and expanding into Canada and Europe. The deals bring complementary technical capabilities in utility data management, geomatics, and commissioning services. Management expects the acquisitions to be accretive to its '3/18/85' long-term financial targets, excluding transaction and integration costs. This follows the Q2 report showing 86% revenue growth driven by the NV5 acquisition, indicating continued M&A-driven expansion. The purchases were funded with cash on hand, avoiding additional debt or dilution.
At the time of this announcement, TIC was trading at $9.59 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $6.36 to $14.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.