Latest news with #TICC
Yahoo
6 days ago
- Business
- Yahoo
European TICC leader Normec Enters US with Three Strategic Acquisitions
Three acquisitions in Foodcare, Sustainability and Healthcare more than double Normec's addressable market. Marks entry into a fifth new geography since 2020 for the Group, which reached a valuation of over €2bn in 2024. The US TICC market is the largest globally and remains highly fragmented, presenting attractive opportunities for further consolidation. AMSTERDAM & NEW YORK, August 06, 2025--(BUSINESS WIRE)--Normec ("the Group"), a leading European provider of Testing, Inspection, Certification, and Compliance ("TICC") services, today announces its entry into the United States ("US") through the acquisition of three highly specialized companies in the Foodcare, Sustainability, and Healthcare sectors. Normec is backed by Astorg, a leading pan-European private equity firm, and the majority shareholder in the Group since 2020. Headquartered in Amsterdam, Normec enables organisations to innovate safely, quickly and cost-efficiently across the TICC industry, which is a €200bn global market. Today's announcement sees Normec enter the US, which has the largest TICC market worldwide. These acquisitions more than double Normec's addressable market and reinforce its position as a leading international specialist TICC platform with deep expertise across its four highly regulated and fast-growing end markets, including food, life safety, sustainability and healthcare. Entering the US TICC market represents the fifth successful entry into a new geography by Normec in the last five years and the continued execution of Normec's growth strategy. The US is a highly fragmented TICC market and presents attractive opportunities for further consolidation. Normec has completed 85+ acquisitions in total. The acquired companies include: MS Bio (Founded in 2018 in Champaign, Illinois): A nutrition supplement focused testing lab, serving manufacturers and producers in the dietary supplement, functional food and cosmetics industries, through microbiological and several other testing methods. MJ Reider (Established in 1952 near Philadelphia, Pennsylvania): A full-service water testing laboratory offering comprehensive analyses across microbiology, inorganic and organic compounds, PFAS, and dioxins. NorthEast BioLab (Founded in 2003 in Hamden, Connecticut): A CLIA certified bioanalytical laboratory supporting the biopharmaceutical sector across all stages of drug development from discovery to clinical trials. Clients span biotech firms, pharmaceutical companies, research institutions, and contract research organizations (CROs). The specialized capabilities of these labs deepen Normec's expertise across bioanalysis, water quality, and nutritional testing, reinforcing its role in its four end markets. Normec now serves clients across Europe and North America, strengthening its mission to deliver best-in-class compliance services in complex, regulated environments as a global and specialized sector-driven compliance leader. Joep Bruins, CEO of Normec, said: "Today's announcement marks a pivotal moment in Normec's journey and more than doubles our addressable market. With a Group valuation now exceeding €2bn, the addition of these three businesses, each known for deep technical expertise, customer trust, and unwavering commitment to quality, provide a strong foothold in the world's largest TICC market. We see a significant opportunity to continue to grow both organically and inorganically across the US and internationally as we continue to execute on our growth strategy." Benjamin Cordonnier, Co-Managing Partner & CEO of Astorg, added: "We are proud to partner with Normec since 2020 and to support the Group's strong growth. Normec has successfully entered five new markets in the last five years and has completed over 85 acquisitions since 2016. Entering the US is a landmark milestone in the Group's evolution into a global TICC platform and the next step in the mission to deliver a specialized approach to compliance, operational excellence and sector depth globally." These acquisitions mark the beginning of Normec's North American journey, enabling the Group to better support clients with local expertise, trusted partnerships, and high-quality compliance solutions across critical industries. About Normec Normec, established in 2016, is a pivotal player in the Testing, Inspection, Certification, and Compliance (TICC) industry across Western Europe. By specializing in these areas, Normec enables organizations to innovate safely, quickly, and cost-efficiently. Having grown rapidly, Normec has become the quality and safety specialist, currently employing 6,000 staff across 160 locations, with 85+ completed acquisitions in over 6 countries, and operating in 4 divisions. Normec remains committed to continuing its ambitious growth trajectory, driven by organic expansion and strategic acquisitions. Balancing the demands of a rapidly evolving global landscape with the needs of its clients, Normec fosters partnerships that extend beyond the conventional, ensuring every project contributes positively towards a shared future. For more information, visit Follow Normec on Linkedin. About Astorg Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading international companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision making body, Astorg has valuable industry expertise in healthcare, technology & software, and business services companies. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt and Milan. For more information about Astorg: | Follow Astorg on LinkedIn. View source version on Contacts Normec Anouk Wouda, Corporate Communications +31 62 83 40 468Niels Langereis, Director of Marketing & +31 63 19 14 529Astorg Samia Hadj, Head of Corporate Communicationsshadj@ +33 7 88 34 43 99Prosek Partners pro-astorg@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Express
02-08-2025
- Entertainment
- Daily Express
Sabah allocates RM13.66 mil to boost cultural heritage and tourism
Published on: Sunday, August 03, 2025 Published on: Sun, Aug 03, 2025 Text Size: Head of State Tun Musa Aman flanked by Datuk Ariffin Arif (left) and Datuk Nizam Abu Bakar Titingan (second right) at the opening of the FKAT KOTA KINABALU: Sabah has allocated RM13.66 million this year to preserve its cultural and arts heritage, said Chief Minister Datuk Seri Hajiji Noor at the Tawau International Cultural Festival (FKAT). He said the State Government will continue to strengthen preservation efforts to boost tourism, with positive spillover effects for the local economy. Hajiji noted that festivals like FKAT benefit a wide range of people, including entrepreneurs, homestay operators, artists, and small traders. They also serve to educate the younger generation on the value of safeguarding the state's cultural treasures. He highlighted the RM27 million Tawau International Cultural Centre (TICC), scheduled for completion in December 2027, which will become a hub for arts and heritage. Once completed, it will elevate Tawau as a competitive international cultural centre. With the theme 'Cultural Diversity: Warriors, Handicrafts, and Marriage,' FKAT celebrates Sabah's multiracial society and serves as a platform for cultural exchange, featuring participants from Kazakhstan, Indonesia, and the Philippines. Hajiji said the festival not only promotes cultural exhibitions but also strengthens unity, fosters respect for heritage, and enhances Tawau's role as a border town rich in cultural networks and regional cooperation. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Globe and Mail
01-08-2025
- Business
- Globe and Mail
Acuren Corporation Confirms Date for Second Quarter 2025 Earnings Release
Acuren Corporation (NYSE: TIC) (the ' Company ' or ' Acuren '), a leading provider of critical asset integrity services, announced today that it intends to release its financial results for the three and six months ended June 30, 2025, before the market opens on Thursday, August 14, 2025. Second Quarter Webcast and Conference Call: Acuren will hold a webcast/dial-in conference call to discuss its financial results at 8:30 a.m. (Eastern Time) on Thursday, August 14, 2025. Participants on the call will include Talman Pizzey, Chief Executive Officer, Kristin Schultes, Chief Financial Officer, and Robert A.E. Franklin, Co-Chairman. To listen to the call by telephone, please dial 877-407-0789 or 201-689-8562. You may also attend and view the presentation (live or by replay) via webcast by accessing the following URL: A replay of the call will be available shortly after the completion of the live call/webcast via the webcast link above. About Acuren: Acuren is a leading provider of critical asset integrity services. The company operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recurring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection, Certification, and Compliance (TICC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. For more information, please visit
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Acuren Corporation Announces Expiration of Go-Shop Period under Merger Agreement with NV5 Global, Inc.
Acuren Corporation (NYSE: TIC) (' Acuren ') today announced the expiration of the 60-day 'go-shop' period ('Go-Shop Period') in connection with the previously announced Agreement and Plan of Merger with NV5 Global, Inc. ('NV5', Nasdaq: NVEE), dated as of May 14, 2025 (the 'Merger Agreement'). During the Go-Shop Period, NV5 was permitted to solicit and enter into negotiations with third parties that made a proposal or offer to acquire NV5. The Go-Shop Period expired at 11:59 p.m. ET on July 14, 2025. NV5 did not receive an NV5 Superior Proposal (as such term is defined in the Merger Agreement) during the Go-Shop Period. The transactions contemplated by the Merger Agreement (the 'Transactions') are expected to close in August of 2025, subject to customary closing conditions, including approval of each of Acuren and NV5's stockholders and receipt of regulatory approvals. About Acuren Acuren is a leading provider of critical asset integrity services. Acuren operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recurring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection, Certification, and Compliance (TICC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. More information can be found at About NV5 NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of tech-enabled engineering, testing, inspection, and consulting solutions for the built environment. NV5 specializes in engineering design, asset management, and geospatial data analytics to support infrastructure resilience and building systems performance throughout the entire asset lifecycle. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the NV5's website at Caution Concerning Forward-Looking Statements Certain statements in this press release concerning the Transactions, including any statements regarding the expected timetable for completing the Transactions, and any other statements regarding NV5's or Acuren's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are 'forward-looking' statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words 'anticipate,' 'believe,' 'ensure,' 'expect,' 'if,' 'intend,' 'estimate,' 'probable,' 'project,' 'forecasts,' 'predict,' 'outlook,' 'aim,' 'will,' 'could,' 'should,' 'would,' 'potential,' 'may,' 'might,' 'anticipate,' 'likely' 'plan,' 'positioned,' 'strategy,' and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding the expected closing (the 'Closing') of the Transactions. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the possibility that stockholders of NV5 may not approve the Merger Agreement or stockholders of Acuren may not approve the issuance of Acuren common stock in the Transactions; the risk that a condition to Closing of the Transactions may not be satisfied, that either party may terminate the Merger Agreement or that the Closing might be delayed or not occur at all. Additional factors that could cause results to differ materially from those described above can be found in NV5's Annual Report on Form 10-K for the year ended December 28, 2024, as amended, which is on file with the SEC and available from NV5's website at under the 'Investor Relations' tab, and in other documents NV5 files with the SEC; and in Acuren's Annual Report on Form 10-K for the year ended December 31, 2024, which is on file with the SEC and available from Acuren' website at under the 'Investor Relations' tab, and in other documents Acuren files with the SEC. All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither NV5 nor Acuren assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. Participants in the Merger Solicitation NV5, Acuren and their respective directors and certain of their executive officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from NV5's stockholders and Acuren's stockholders in connection with the Transactions. Information regarding the executive officers and directors of Acuren is included in its Annual Report on Form 10-K filed with the SEC on March 27, 2025. Information regarding the executive officers and directors of NV5 is included in its amendments to its Annual Report on Form 10-K/A filed with the SEC on April 28, 2025 and May 30, 2025. Additional information regarding the persons who may be deemed participants and their direct and indirect interests, by security holdings or otherwise, is contained in the Registration Statement and other related materials which may be filed with the SEC in connection with the Transactions. Free copies of these documents may be obtained as described in the paragraphs above. No Offer or Solicitation This press release does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Important Additional Information Regarding the Transaction In connection with the Transactions, Acuren filed a registration statement on Form S-4 (the 'Registration Statement') with the SEC, which includes a joint proxy statement/prospectus of Acuren and NV5. Information in the joint proxy statement/prospectus may be changed. The Registration Statement was declared effective on June 27, 2025. Each of Acuren and NV5 delivered the definitive joint proxy statement/prospectus relating to the Transactions to their respective stockholders of record as of June 30, 2025, commencing on or about July 2, 2025. Stockholders of Acuren and NV5 and other interested persons are encouraged to read, when available, the definitive joint proxy statement/prospectus as well as other documents filed or to be filed with the SEC because these documents will contain important information about Acuren, NV5 and the Transactions. Investors and security holders may also obtain a copy of the Registration Statement, including the definitive joint proxy statement/prospectus, and other documents filed with the SEC by Acuren or NV5 without charge at the SEC's website (
Yahoo
04-06-2025
- Business
- Yahoo
AM Best Downgrades Credit Ratings of The Dominion of Canada General Insurance Company and Travelers Insurance Company of Canada Following Announced Sale to Definity Financial Corporation; Places Credit Ratings Under Review With Various Implications
OLDWICK, N.J., June 04, 2025--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "a" (Excellent) of The Dominion of Canada General Insurance Company (Dominion). At the same time, AM Best has downgraded the FSR to A+ (Superior) from A++ (Superior) and the Long-Term ICR to "aa-" (Superior) from "aa+" (Superior) of Travelers Insurance Company of Canada (TICC). In addition. AM Best has placed Dominion's Credit Ratings (ratings) under review with developing implications, while AM Best has placed TICC under review with negative implications. Dominion and TICC are domiciled in Toronto, Ontario, Canada. The ratings of Dominion reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings of TICC reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM. The Travelers Companies, Inc. (TRV) (NYSE: TRV) announced that it signed an agreement to sell the personal insurance business and most of the commercial insurance business of Travelers Canada, which include Dominion and TICC, to Definity Financial Corporation. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions. The announcement has triggered the removal of the TRV lift from Dominion and TICC, which have been placed under review, and while Dominion will have developing implications, TICC will have negative implications as a result of the higher rating compared with the rating of the new parent company at close. AM Best will continue to monitor events related to this transaction and provide updates as conditions warrant. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts David Marek Associate Director +1 908 882 1924 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
