Acuren Acquires Premium Inspection & Testing Group

Admiral Acquisition Limited to Acquire Acuren from American Securities for $1.85 Billion

May 22, 2024

Industrial Services

Funds advised by American Securities LLC have agreed to sell ASP Acuren Holdings Inc. (Acuren), a leading North American provider of asset integrity, nondestructive testing and engineering lab services, to Admiral Acquisition Limited for $1.85 billion. The transaction, which values Acuren after ~4.5 years of American Securities ownership and multiple tuck-in acquisitions, is expected to close in early Q3 2024 and represents an exit/realization of investment for American Securities.

Acuren Acquires Alloyweld Inspection

October 20, 2023

Industrial Services

Acuren Inspection, Inc. acquired Alloyweld Inspection Company, Inc., a two-location Illinois nondestructive testing (NDT) services provider; the transaction closed on September 13, 2023. Generational Equity advised Alloyweld on the sale — the deal brings Alloyweld’s specialized radiography and 3D CT capabilities into Acuren’s broader asset integrity and NDT platform to expand service capabilities for aerospace, medical device and industrial customers.

Acuren Corporation Acquires NV5 Global, Inc.

August 4, 2025

Engineering Services

Acuren Corporation completed its previously announced combination with NV5 Global, creating a market-leading North American provider of Testing, Inspection, Certification and Compliance (TICC) and engineering services. NV5 stockholders received $23.00 per share (composed of $10.00 cash and 1.1523 shares of Acuren common stock), the transaction implies an enterprise value of approximately $1.7 billion, and the combined business will operate with over $2 billion in revenue and more than 11,000 employees across 230+ locations.

Kelvin Group (Southfield Capital-backed) Acquires Advanced Examination Services (AES-NDT)

December 5, 2023

Industrial Services

Kelvin Group, backed by Southfield Capital, has acquired Advanced Examination Services (AES-NDT), a Torrance, California-based provider of non-destructive testing (NDT) services for the petroleum, chemical and agricultural industries. The deal is Kelvin Group’s ninth acquisition since partnering with Southfield; Deerpath Capital Management provided debt financing and G2 Capital Advisors served as buy-side advisor.

ALTEN Acquires QA Consultants

March 1, 2024

IT Services

ALTEN Group has acquired substantially all of the assets of QA Consultants, a North American software quality engineering and testing services provider. The acquisition brings QA Consultants' quality engineering, application security and performance testing capabilities into ALTEN's engineering and IT services portfolio while QA Consultants will operate as an independent subsidiary.

XCEL NDT Acquires Integrity Assessment Group

September 16, 2025

Industrial Services

XCEL NDT LLC, a Graycliff Partners portfolio company, acquired Integrity Assessment Group (IAG) to expand its non-destructive testing (NDT) and integrity services capabilities. The deal adds maintenance and cathodic protection services and broadens XCEL's end-market exposure—notably into power generation—while increasing manpower and specialized equipment.