M&A Deal Summary

Admiral Group Acquires Acuren

On May 22, 2024, Admiral Group acquired test/measurement equipment company Acuren from American Securities

Acquisition Highlights
  • This is Admiral Group’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Admiral Group’s 1st transaction in the United States.
  • This is Admiral Group’s 1st transaction in Texas.

M&A Deal Summary

Date 2024-05-22
Target Acuren
Sector Test/Measurement Equipment
Buyer(s) Admiral Group
Sellers(s) American Securities
Deal Type Add-on Acquisition
Advisor(s) Baird (Financial)
Weil Gotshal & Manges (Legal)

Target

Acuren

Tomball, Texas, United States
Acuren is a provider of non-destructive testing and related services to energy and industrial end markets in North America. Acuren serves over 8,000 individual customer sites through its 84 field offices in the United States, Canada, and the United Kingdom. Acuren was founded in 1974 and is based in Tomball, Texas.

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Buyer(S) 1

Buyer

Admiral Group

Cardiff, United Kingdom

Category Company
Founded 1993
Sector Insurance
Employees15,432
Revenue 4.9B GBP (2024)
DESCRIPTION

Admiral Group is the provider of direct motor insurance. Admiral Group was incorporated in 1993 and is based in Cardiff, United Kingdom.


DEAL STATS #
Overall 2 of 2
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-06 Compare.com

Richmond, Virginia, United States

Compare.com is an online comparison platform that allows consumers to receive side-by-side comparisons on auto insurance quotes with real prices from more than 60 of the country’s top carriers. Compare.com was founded in 2013 and is based in Richmond, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-22 Elephant Insurance

Richmond, Virginia, United States

Elephant Insurance provides U.S. customers with simple and affordable car insurance. The company's tools allow customers to find the best protection for their needs and budget, with tools that are easy to use and understand. Elephant Insurance is headquartered in Richmond, Virginia.

Sell -

Seller(S) 1

SELLER

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based with $50 to $200 million of EBITDA and valued up to $2 billion. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York, New York.


DEAL STATS #
Overall 51 of 53
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 21 of 22
State: Texas M&A 6 of 6
Country: United States M&A 50 of 52
Year: 2024 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-08 NWN Carousel

Exeter, Rhode Island, United States

NWN Carousel is a provider of information systems services and solutions. These include unified communications services, data center and virtualization, network infrastructure, end user computing, applications and data services, IT staffing services, and managed services. NWN Carousel was founded in 1986 and is based in Exeter, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-06 Integrated Global Services

Richmond, Virginia, United States

Integrated Global Services provides engineered, proprietary surface protection solutions and technologies to a diversified global customer base. The Company’s technologies and services solve metal wastage and reliability problems in mission-critical equipment found across energy, power generation and other industrial end markets. Integrated Global Services was founded in 2010 and is based in Richmond, Virginia.

Buy -