TIC Solutions has completed three strategic acquisitions that collectively contribute approximately $90 million in annualized revenue, expanding the company’s technical capabilities and geographic footprint across North America and Europe.
The company acquired we-do-IT, GeoVerra Holdings and Core Group. The company did not disclose purchase prices, and it funded each transaction with cash on hand.
The acquisitions expand TIC Solutions across utility data management, surveying and geomatics, engineering, and building commissioning.
Colorado-based we-do-IT provides specialized data management and software integration services to utility companies throughout North America.
The acquisition expands TIC’s ability to support utilities modernizing power grids and managing complex digital infrastructure through long-term and recurring service agreements.
GeoVerra is headquartered in Edmonton, Alberta, and provides surveying, geomatics, mapping, land services and high-tech data capture.
Its customers span infrastructure, energy, utilities, transportation and natural resources.
The acquisition establishes a meaningful geospatial and engineering presence for TIC in Canada by integrating capabilities associated with Acuren and NV5 across the asset lifecycle.
UK-based Core Group provides commissioning and commissioning management for complex building systems.
Core Group expands TIC’s capabilities across data centers, commercial buildings, healthcare, education, transportation and other infrastructure markets while providing a platform for additional European growth.
Together, the acquired businesses add complementary expertise and customer relationships that TIC believes can support cross-selling across its broader platform.
The acquisitions are expected to be accretive to TIC Solutions’ “3/18/85” long-term financial targets, excluding transaction and integration costs.
TIC Solutions provides tech-enabled asset integrity, engineering and geospatial services across the lifecycle of industrial assets, buildings and public infrastructure.
The company operates through Inspection & Mitigation, Consulting & Engineering, and Geospatial segments, with more than 12,000 professionals across over 250 locations.
KEY QUOTES:
“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.”
“Together, they create new opportunities to cross-sell our capabilities and better serve clients across the asset lifecycle. We look forward to supporting their continued growth as part of the TIC family.”
Ben Heraud, Chief Executive Officer of TIC Solutions
