TIC Solutions, Inc. (NYSE: TIC), a prominent provider of tech-enabled asset integrity, engineering, and geospatial services, has successfully completed the acquisitions of we-do-IT, Inc., GeoVerra Holdings Inc., and Core Group Limited.
These strategic acquisitions enhance TIC Solutions' technical capabilities and bolster its market presence in key regions, including Canada and Europe.
The acquisitions are anticipated to contribute positively to TIC Solutions' long-term financial objectives, known as the '3/18/85' targets, although this excludes any transaction and integration-related expenses.
The purchase price for each acquisition was covered using the company's existing cash reserves.
“We are excited to welcome the WDI, GeoVerra, and Core Group teams to the TIC family. Each business has an excellent reputation in its respective market, experienced leadership and complementary expertise that strengthens our existing platform,” said Ben Heraud, Chief Executive Officer of TIC Solutions.