Deal Details

Acuren Is Acquired by Admiral

Industrial

Acuren, a portfolio company of American Securities, sale to Admiral

Summary

ASP Acuren Holdings Inc., the parent company of Acuren Group, Inc. (“Acuren” or the “Company”), a portfolio company of American Securities LLC ("American Securities"), recently announced its sale of Acuren to Admiral Acquisition Limited (“Admiral”) (LSE: ADMR) for $1.85 billion. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close early in the third quarter of 2024.

Baird served as lead financial advisor to Acuren on this transaction.

About

Acuren is a leading North American provider of critical asset integrity services. Acuren provides mission critical, regulatorily-mandated, nondestructive testing, inspection and engineering & lab testing services across a variety of industrial end markets. Acuren operates across three service lines: Nondestructive Testing (NDT), Rope Access Technician Solutions (RAT) and Engineering and Lab Testing. NDT offerings include breadth of nondestructive testing services including conventional, advanced and tech-enabled NDT. RAT offerings include a full suite of rope access technician offerings including inspection, repair and specialty craft services. Engineering and Lab Testing offerings include materials engineering and destructive lab testing services.

American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $27 billion under management.

Admiral is a publicly-listed acquisition vehicle that was formed in May 2023 to undertake an acquisition of a target company or business.