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Acuren Corporation is a leading provider of critical asset integrity services, primarily operating in North America. The company specializes in ensuring the safety, compliance, and operational efficiency of industrial infrastructure across various sectors, including chemical, pipeline, refinery, power generation, and more. Acuren offers a range of services, including nondestructive testing, rope access solutions, and consulting engineering, to help clients maintain and extend the life of their assets.
- Nondestructive Testing (NDT) Solutions - Provides inspection techniques such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection to evaluate industrial equipment without causing damage, ensuring asset integrity and regulatory compliance.
- Rope Access Technician (RAT) Solutions - Delivers cost-efficient access to difficult areas without scaffolding, offering services that include insulation, coatings and blasting, welding, pipe fitting, hoisting and rigging, and electrical work.
- Consulting Engineering and Lab Testing - Offers in-lab destructive testing and specialized materials engineering services, including failure investigation, material selection, corrosion engineering, welding engineering, fracture mechanics, and chemical analysis.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Talman B. Pizzey ExecutiveBoard | Chief Executive Officer | CEO of ASP Acuren | Talman B. Pizzey has served as the Chief Executive Officer at TIC since July 2024 and is a member of the Board of Directors. He holds a bachelor's degree in metallurgical engineering and an MBA from the University of Alberta, and he currently serves as the CEO of ASP Acuren since December 2019. | View Report → |
Fiona E. Sutherland Executive | General Counsel | Fiona E. Sutherland serves as General Counsel at TIC since the closing of the Acuren Acquisition. She has also served as ASP Acuren's General Counsel since August 2019. | ||
Kristin B. Schultes Executive | Chief Financial Officer | Kristin B. Schultes has served as the Chief Financial Officer of TIC (Acuren Corporation) since December 3, 2024. She has an extensive background in financial leadership, previously holding roles at APi Group Corporation and Metropolitan Mechanical Contractors, Inc.. | ||
Lourinda St. John Executive | Chief Human Resources Officer | Lourinda St. John is the Chief Human Resources Officer at TIC since the closing of the Acuren Acquisition, having previously served as ASP Acuren's CHRO starting in February 2023. Prior to her current role, she held a senior HR leadership position at Verso Corporation from January 2015 to February 2023. | ||
Antoinette C. Bush Board | Director | Director of Ares Management Corporation; Director of Ubicquia, Inc.; Chair of The HistoryMakers; Regent of Smithsonian Institution; Board Member of Children’s National Hospital | Antoinette C. Bush has been serving as Director at TIC since July 2024 and is a member of the Compensation and Nominating & Corporate Governance Committees. She has extensive experience in legal, regulatory, and corporate governance roles, including previous senior roles at News Corp. | |
Elizabeth Meloy Hepding Board | Director at TIC | Elizabeth Meloy Hepding has been serving as a Director at TIC since July 2024, leveraging her extensive background in finance, corporate strategy, and investment banking from previous roles at companies like Ingersoll Rand Inc. and Essendant Inc.. She also contributes as a board member by serving on the Audit Committee and the Nominating and Corporate Governance Committee. | ||
James E. Lillie Board | Director | Co-Founder and Director of Admiral; Director and Co-Chair of APi Group Corporation | James E. Lillie co-founded Admiral and has served as a director at TIC since July 2024, where he also chairs the Compensation and Nominating & Corporate Governance Committees. He holds external leadership roles as Director and Co-Chair at APi Group Corporation in addition to his co-founder role at Admiral. | |
Peter A. Hochfelder Board | Director | Private Investor | Peter A. Hochfelder has served as a director at TIC since July 2024 while chairing the Compensation Committee and serving on the Audit Committee. Previously, he co-founded and managed Brahman Management, L.L.C. until 2016 and served on Jarden Corporation's board from 2015 to 2016. | |
Robert A. E. Franklin Board | Co-Chairman of the Board of Directors | Board Member of Sweet Oak | Robert A. E. Franklin has served as TIC's Co-Chairman since July 2024 and has been a director since December 2022. He brings extensive experience in investment and corporate governance to his leadership role at TIC. | |
Rory Cullinan Board | Director, Chair of the Audit Committee | Board of Cervecera CCU Chile Limitada; Board of Embotelladoras Chilenas Unidas S.A.; Advisory Board of Delancey Real Estate Asset Management Limited | Rory Cullinan has served as a Director at TIC since December 2022 and is the Chair of the Audit Committee. He holds extensive board and advisory roles across multiple organizations, demonstrating strong governance expertise. | |
Sir Martin E. Franklin Board | Co-Chairman of the Board | CEO of Mariposa Capital, LLC ; Chairman and Controlling Shareholder of Sweet Oak ; Founder and Executive Chairman of Element Solutions Inc ; Co-Founder and Co-Chairman of Nomad Foods Limited ; Director and Co-Chair of APi Group Corporation | Sir Martin E. Franklin co-founded Admiral (associated with TIC) and has been serving as a Director since December 2022, later becoming Co-Chairman of the Board in July 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
ASP Acuren | 2024 | Completed on July 30, 2024, the acquisition was structured as a merger with a total cash consideration of approximately $1.85–$2.0 billion (including settlement of historical indebtedness) and was financed through a mix of cash, a senior loan facility, PIPE/Warrant financing, and private placements. The deal strategically adds leading asset integrity management solutions including nondestructive testing, engineering, and lab operations, complemented by a new credit facility and plans to list on the NYSE. |
Advance Coating Solutions, Inc. | 2024 | Completed on April 15, 2024, this acquisition was executed with a purchase price of either $2.0 million or $2,902,000 (net of cash acquired), and it enhances the company’s Rope Access Technician Solutions by adding turnkey corrosion prevention and remediation solutions targeting markets such as mining, refining, and storage. The entire acquired goodwill was assigned to the Canadian reporting unit, with purchase price adjustments pending as final valuations are completed. |
ADV Integrity, Inc. | 2024 | Acquired on April 2, 2024 for $16.4 million in cash (with a net purchase price of approximately $14.9 million after cash acquired), this deal provides comprehensive engineering, materials testing, and technology development services from a location in Magnolia, Texas. The acquisition broadens the company’s integrity management offerings, with detailed fair value allocations and the entire goodwill of $7.3 million assigned to the U.S. reporting unit. |
TriQuest Nondestructive Testing Corp. | 2024 | Acquired on January 30, 2024 for about $29.3 million in cash (with minor discrepancies in reported amounts), TriQuest expands the company’s capabilities in nondestructive testing and visual inspections as a Canadian-based service provider. The acquisition supports a broader service portfolio with all acquired goodwill allocated to the Canadian reporting unit, and purchase price allocation adjustments remain pending. |
Recent press releases and 8-K filings for TIC.
- Record Full-Year Revenue & Q4 Performance: Achieved a record full-year revenue of $1.1 billion driven by deeper service penetration and pricing initiatives, with Q4 2024 revenue of $262.0 million
- Q4 Net Losses: Reported net losses in Q4 2024 primarily due to non-recurring transaction-related expenses
- Restatement Announcement: Filed an 8-K on March 27, 2025 to restate unaudited financial statements for January 1, 2024–July 29, 2024 due to a material income tax error
- Tax Impact: The error led to an approximate decrease of $12.5 million in the income tax benefit and an increase of $2.50 per share in basic/diluted loss, with deferred tax liabilities rising by about $12.5 million
- Unaffected Period & Auditor Review: Financials for July 30, 2024–December 31, 2024 remain unaffected; the matter was discussed with PricewaterhouseCoopers LLP
- Strategic Initiatives: The company redomiciled in the U.S., commenced trading on NYSE American, and established its 2025 revenue outlook