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NVEE News
NVEE Events
Kodiak Gas Services to replace NV5 Global in S&P 600 at open on 8/6
Kodiak Gas Services (KGS) will replace NV5 Global (NVEE) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, August 6. Acuren (TIC) is acquiring NV5 Global in a deal expected to be completed soon pending final conditions.
Kodiak Gas Services to replace NV5 Global in S&P 600 at open on 8/6
Kodiak Gas Services (KGS) will replace NV5 Global (NVEE) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, August 6. Acuren (TIC) is acquiring NV5 Global in a deal expected to be completed soon pending final conditions.
NV5 Global stockholders approve proposed merger with Acuren
NV5 Global (NVEE) announced that holders of a majority of its outstanding common stock voted to approve the proposed merger with Acuren Corporation (TIC) at a Special Meeting of Stockholders. Under the terms of the Agreement and Plan of Merger dated as of May 14 relating to the Merger, NV5 stockholders will receive approximately $23.00 per share consisting of $10.00 in cash and $13.00 in shares of Acuren common stock at closing, subject to potential adjustment as a result of a 10% collar feature. Upon consummation of the Merger, pre-Merger NV5 stockholders are expected to collectively own up to approximately 40% of the common stock of the combined company on a pro forma basis. Pre-Merger Acuren stockholders are expected to collectively own approximately 60% of the common stock of the combined company on a pro forma basis. The transaction is subject to customary closing conditions, and is expected to close promptly in August.
Acuren announces expiration of go-shop period under NV5 Global merger agreement
Acuren (TIC) announced the expiration of the 60-day "go-shop" period in connection with the previously announced agreement and plan of merger with NV5 Global (NVEE), dated as of May 14. During the go-shop period, NV5 was permitted to solicit and enter into negotiations with third parties that made a proposal or offer to acquire NV5. The go-shop period expired at 11:59 p.m. ET on July 14. NV5 did not receive an NV5 superior proposal during the go-shop period. The transactions contemplated by the merger agreement are expected to close in August, subject to customary closing conditions, including approval of each of Acuren and NV5's stockholders and receipt of regulatory approvals.
NV5 Global announces acquisition of Professional Systems Engineering
NV5 announced its acquisition of Professional Systems Engineering, a designer of facility technologies for corrections and public safety infrastructure throughout the Northeast. Founded in 1986, PSE's engineers and consultants specialize in the design of security, safety, fire, and communication systems for high-security public sector facilities such as corrections, justice, healthcare, and educational facilities. Professional Systems Engineering is headquartered in Philadelphia and holds numerous contracts with state, local, higher education, and special development agencies across New York, New Jersey, and Pennsylvania. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.
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