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Acuren Corporation has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The filing reports that Acuren Corporation completed the acquisition of ASP Acuren Holdings, Inc. on July 30, 2024. The acquisition was accounted for as a business combination, with a purchase price of approximately $1.88 billion.
Acuren Corporation's revenue for the period from July 30, 2024, to December 31, 2024, was $463.5 million, with a gross profit of $103.7 million. The company reported a net loss of $105.5 million for the same period.
The company recorded goodwill of approximately $865.6 million as a result of the acquisition. The goodwill is not expected to be deductible for tax purposes.
Acuren Corporation's total assets as of December 31, 2024, were $2.21 billion, with total liabilities amounting to $1.06 billion.
The company entered into a $775 million senior secured term loan facility to fund part of the acquisition cost. As of December 31, 2024, the company had $773.1 million in outstanding debt.
Acuren Corporation operates primarily in North America and provides asset integrity services to a broad range of industrial markets.
The company has two reportable segments: United States and Canada. The United States segment reported service revenue of $267.1 million, while the Canada segment reported $197.5 million for the period from July 30, 2024, to December 31, 2024.
The filing also notes that Acuren Corporation is subject to various risks, including those related to its business and industry, regulation, and financial condition.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Acuren Corporati annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.