Admiral Acquisition will buy North American engineering and lab-testing services provider Acuren in a $1.85 billion deal, the blank-check company co-founded by dealmaker Martin E. Franklin said on Wednesday.
The deal, which is expected to close in the third quarter, will also see Admiral move its listing to New York and cancel trading on the London Stock Exchange, Reuters reports. The combined company intends to trade on the NYSE.
Acuren provides mission-critical, regulatorily mandated, non-destructive testing, inspection, engineering and lab testing services across a variety of industries.
Admiral raised $550 million in an IPO last year.
Franklin is known as a pioneer in the world of SPACs, having launched several blank-check firms, including J2 Acquisition, which raised $1.25 billion in a London IPO in 2017. Read more.
