Acuren Corp
NYSE:TIC
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Acuren Corp
NYSE:TIC
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A
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Akmerkez Gayrimenkul Yatirim Ortakligi AS
IST:AKMGY.E
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Zhejiang Huahai Pharmaceutical Co Ltd
SSE:600521
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Acuren Corp
Acuren Corp. engages in providing nondestructive testing, inspection, engineering and lab testing services. The company is headquartered in Tomball, Texas. The company went IPO on 2023-10-12. The firm provide these essential and often compliance-mandated (often at customer locations) services in the industrial space and are focused on the recuring maintenance needs of its customers. The firm operates in the service category referred to as Testing, Inspection and Certification (TIC). These activities include Nondestructive Testing (NDT) techniques such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, avoid costly accidents and comply with regulatory requirements without destroying the asset or component. The company operates from approximately 119 service centers and over 22 engineering and lab facilities. The company operates in the United States and Canada, and has limited operations located in the United Kingdom.
Acuren Corp. engages in providing nondestructive testing, inspection, engineering and lab testing services. The company is headquartered in Tomball, Texas. The company went IPO on 2023-10-12. The firm provide these essential and often compliance-mandated (often at customer locations) services in the industrial space and are focused on the recuring maintenance needs of its customers. The firm operates in the service category referred to as Testing, Inspection and Certification (TIC). These activities include Nondestructive Testing (NDT) techniques such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, avoid costly accidents and comply with regulatory requirements without destroying the asset or component. The company operates from approximately 119 service centers and over 22 engineering and lab facilities. The company operates in the United States and Canada, and has limited operations located in the United Kingdom.
Leadership: Ben Heraud named CEO effective March 31, 2026; Tal Pizzey will remain on the Board and advise through the transition.
Scale & performance: Combined 2025 revenue was $2.1 billion (up ~4% constant currency), adjusted EBITDA $312 million (14.8% margin); Q4 revenue $508 million with adjusted EBITDA of $76.4 million.
Guidance: 2026 revenue $2.15 billion–$2.25 billion; adjusted EBITDA $330 million–$355 million; Q1 revenue $470 million–$485 million and adjusted EBITDA $55 million–$60 million.
Integration & cost synergies: $25 million of targeted annual cost synergies, roughly half expected in 2026 and full run-rate by mid-2027; integration execution said to be ahead of schedule.
Commercial traction & cross-sell: Management highlighted early cross-selling wins (notably a multi-year bridge engagement combining LiDAR, engineering and inspection) and material data center traction with 2025 data center revenue ~ $70 million and line of sight to nearly $100 million.
Margin actions & compensation: Q4 gross margins expanded across all segments; 2026 EBITDA guidance includes an $8 million headwind tied to reclassifying NV5 short-term incentive from equity to cash to align market compensation.
Capital allocation: Board authorized a $200 million share repurchase program while keeping focus on deleveraging (long-term net leverage target < 3x) and opportunistic tuck-ins.
