TIC | Market Cap: $1.6B (07/13/26)
Industry:
Commercial Services

DESCRIPTION

TIC Solutions provides testing, inspection, certification, and compliance (TICC), engineering, and geospatial services, primarily in North America. The company was formed in August 2025 through the combination of Acuren and NV5, and operates across three segments. The Inspection and Mitigation segment (the largest) performs nondestructive testing (NDT) — inspecting industrial equipment using radiography, ultrasonics, and other methods — as well as rope access technician services for hard-to-reach industrial work like coatings, welding, and pipe fitting. The Consulting Engineering segment provides infrastructure engineering, environmental consulting, materials engineering, and lab-based testing, serving transportation agencies, utilities, data centers, and commercial real estate. The Geospatial segment collects and analyzes data using LiDAR, aerial imaging, and drones, and sells subscription software for asset management and infrastructure planning. TIC Solutions serves both private-sector industrial operators — in energy, refining, chemicals, pipelines, and manufacturing — and public-sector clients including federal, state, and municipal agencies. Much of the demand is non-discretionary, driven by regulatory compliance and safety requirements, creating a stable recurring revenue base. The business is labor-intensive with low capital requirements. TIC Solutions grows through cross-selling across its segments, expanding in data centers and energy transition infrastructure, and acquiring smaller firms at 4-6x EBITDA, having completed 9 acquisitions in the first 9 months of 2025.

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