TIC Solutions, Inc. (NYSE: TIC)

TIC Solutions, Inc. is a leading provider of tech-enabled Testing, Inspection, Certification and Compliance (TICC), engineering, and geospatial services. The company specializes in mission-critical services essential for the safety, reliability, and efficiency of industrial assets, buildings, and public infrastructure. TIC Solutions operates primarily in North America, serving both private and public-sector clients across various end markets, including industrial, infrastructure, construction, and commercial real estate. The company's services are often non-discretionary, driven by regulatory requirements, customer risk management policies, and the need to extend the useful life of critical assets. On August 4, 2025, TIC Solutions completed the acquisition of NV5 Global, Inc., an engineering and geospatial services company, and subsequently changed its name from Acuren Corporation to TIC Solutions, Inc.

TIC Solutions generates revenue through a diversified portfolio of services, including Nondestructive Testing (NDT), Rope Access Technician (RAT) solutions, engineering design, conformity assessment, infrastructure engineering, building and technology design, environmental consulting, materials engineering and testing, and geospatial data collection and analytics. The company's customer base spans industrial operators, federal, state, and municipal agencies, public utilities, transportation authorities, and environmental regulators. Revenue is generated through a mix of time-and-materials, cost-plus, fixed-price, and unit-rate arrangements, with a significant portion of work performed under multi-year agreements or recurring customer relationships.

• Inspection and Mitigation: This segment includes NDT and RAT solutions. NDT involves the inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, prevent costly outages, failures, and accidents, and meet regulatory requirements without damaging the equipment being tested. Techniques include radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. RAT solutions provide safe and efficient access to difficult-to-reach areas, extending beyond inspection to include industrial trades such as insulation, coatings and blasting, welding, pipe fitting, hoisting and rigging, and electrical work. These services cater to industrial operators in energy processing, refining, pipeline and midstream infrastructure, chemicals, industrial processing, manufacturing, power generation, utilities, aerospace, automotive, renewable energy, pulp and paper, and mining.

• Consulting Engineering: This segment offers engineering design, conformity assessment, infrastructure engineering, building and technology design, environmental consulting, and materials engineering and testing. Services support the design, operation, and maintenance of essential infrastructure and facilities, covering transportation systems, utilities, water and environmental infrastructure, data centers, building systems, clean energy conversion, and fire protection. The segment caters to private and public-sector clients, including federal, state, and local government agencies, public utilities, industrial facilities, and commercial and institutional building owners.

• Geospatial: This segment provides data collection, data analytics, and software solutions that support asset management and infrastructure planning. Technologies used include LiDAR, imaging, remote sensing, and unmanned aerial systems. Services include high-resolution mapping, vegetation management, shoreline and floodplain monitoring, and utility asset inspection. The segment also offers subscription-based geospatial software and analytic tools, catering to utilities, transportation systems, defense and intelligence agencies, and environmental authorities.

TIC Solutions holds a strong position within the industry, competing with a range of companies from small, owner-operated businesses to large firms with significant financial and technical resources. The company's competitive advantages include a comprehensive and integrated service offering, technician availability and engineering expertise across markets, a long-standing trusted provider status to a diversified and growing customer base, and a focus on technology and innovation. TIC Solutions' ability to self-perform inspection and mitigation work without outsourcing repair services provides customers with efficient solutions, shorter turnaround times, and reduced downtime. The company's management team has a track record of building and leading asset integrity, engineering, and consulting organizations, focusing on delivering quality services in a safe, timely, and cost-effective manner.

TIC Solutions' customer base is highly diversified and long-tenured, spanning both private and public-sector clients across industrial, infrastructure, utilities, and commercial real estate end markets. Private-sector clients include industrial operators in energy processing, refining, pipeline and midstream infrastructure, chemicals, industrial processing, manufacturing, power generation, utilities, aerospace, automotive, renewable energy, pulp and paper, and mining. Public-sector clients include federal, state, and municipal agencies, public utilities, transportation authorities, and environmental regulators. The company's largest clients are typically served under multi-year master service agreements.