Investment management company Ave Maria recently released its “Ave Maria Growth Focused Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned 6.22% compared to the S&P 500 Index’s 8.12% return and the S&P MidCap 400® Growth Index’s 5.59%. You can check the fund’s top 5 holdings for its best picks for 2025. In its third-quarter 2025 investor letter, Ave Maria Growth Focused Fund highlighted stocks such as TIC Solutions, Inc. (NYSE:TI ...

Company Overview - TIC Solutions recently completed a merger with NV5 and rebranded from Acuren to TIC Solutions, enhancing its market position in the specialty business services industry [10] - The company operates a service-based business model focused on nondestructive testing, inspection, engineering, and laboratory testing services across the United States and Canada [8] - TIC Solutions aims to deliver reliable, regulatory-compliant services to high-value industrial clients, emphasizing operational safety and asset integrity [5] Financial Performance - As of November 14, 2025, TIC Solutions had a market capitalization of $2.16 billion and reported revenue of $1.28 billion for the trailing twelve months (TTM) [4] - The company reported a net income loss of $55.54 million for the TTM [4] - TIC Solutions forecasts sales of $1.5 billion for 2025, surpassing the record revenue of $1.1 billion in 2024 [10] Investment Activity - Cruiser Capital Advisors, LLC reported a new equity position in TIC Solutions, acquiring 207,607 shares valued at approximately $2.76 million, representing 2.8% of the fund's reportable U.S. equity holdings [2][3] - Following this transaction, TIC Solutions became the eighth largest holding in Cruiser Capital's portfolio, which consists of 57 total positions [6][3] - The purchase indicates a bullish outlook towards TIC Solutions, particularly after the stock reached a 52-week high of $14.94 on September 29, 2025 [10][9]

A patient, partnership-driven family office didn’t wait for fundamentals to break before walking away, and that timing may matter more than the sale itself.New York City-based Wildcat Capital Management sold out its position in TIC Solutions, Inc. (TIC +0.09%) during the third quarter, reducing exposure by 1.5 million shares with a net change of $16.56 million, according to a November 13 SEC filing.What HappenedAccording to a filing with the Securities and Exchange Commission dated November 13, Wildcat Capi ...

A recent portfolio move highlights why scale, recurring revenue, and integration execution may matter more than short-term stock swings.Dallas-based Permian Investment Partners reported buying nearly 4.9 million additional shares of TIC Solutions, Inc. (TIC 2.27%) in a November 14 SEC filing.What HappenedAccording to a Securities and Exchange Commission (SEC) filing dated November 14, Permian Investment Partners increased its stake in TIC Solutions, Inc. (TIC 2.27%) by nearly 4.9 million shares during the t ...

Core Insights - Progeny 3 increased its stake in TIC Solutions by 255,800 shares, raising its total position to 15.3 million shares valued at $203.1 million, making it the fund's second-largest holding [2][8] - TIC Solutions shares are currently priced at $9.42, reflecting a 27.5% decline over the past year, underperforming the S&P 500, which has increased by 12.5% in the same period [3][10] - The company is undergoing a significant rebranding and integration process following the Acuren-NV5 combination, with management emphasizing accelerating synergies and a larger operational platform [6][10] Company Overview - TIC Solutions, formerly known as Acuren, operates within the specialty business services segment, employing thousands and maintaining a strong presence in North America [5] - The company focuses on high-value, compliance-driven testing and engineering services, which are essential for clients' operational safety and regulatory compliance [5] - TIC Solutions is projected to achieve full-year service revenue between $1.53 billion and $1.565 billion for 2025, with adjusted EBITDA expected to be between $240 million and $250 million [9] Investment Perspective - Progeny 3's increased investment in TIC Solutions indicates confidence in the company's strategic transformation and potential for future growth [6][10] - TIC now represents 10.5% of Progeny 3's U.S. equity portfolio, highlighting its status as a high-conviction holding [8] - Despite the current stock performance, the market has not fully recognized the potential of TIC's combined platform, suggesting possible upside if management's projections for synergy capture and margin expansion are realized [10]

Core Insights - TIC Solutions is a service company focused on testing, inspection, certification services, and engineering, formed from the merger of Acuren and NV5 Global [1] - The investment strategy emphasizes companies that offer healthy dividends and have potential for capital appreciation, particularly those that are temporarily undervalued compared to fundamentals, peers, or historical levels [1] - The analysis highlights the importance of both technical and fundamental factors that indicate high odds for capital appreciation, ideally driven by foreseeable catalysts [1] Company Overview - TIC Solutions combines the strengths of Acuren and NV5 Global to provide comprehensive service offerings in the testing and inspection sector [1] - The company is positioned to reward shareholders through dividends and capital appreciation, aligning with the investment focus on shareholder value [1] Investment Focus - The investment approach seeks to identify undervalued companies with strong fundamentals and a history of rewarding shareholders [1] - The analysis often includes HVAC-related stocks, reflecting the analyst's previous professional involvement in that industry [1]

In my last article, I expressed optimism about Prada S.p.A. ( OTCPK:PRDSY , OTCPK:PRDSF ) for several reasons, which can be summarized in the article's title: “Miu Miu, Versace, And A Cheap Valuation: Prada's Got It All.” Basically, I believe thatEquity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for co ...

Tourlite Capital Management, an investment management firm, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Tourlite Fund, LP returned -2.0% in the third quarter of 2025 compared to 8.1% and 12.4% returns for the S&P 500 and the Russell 2000 Indexes. Since its inception, the fund has achieved annualized returns of 8.6%, compared to 13.4% and 6.3% for the Indexes, respectively. The firm observed that the rise in speculative, lower-quality stocks is similar to th ...

Share HOLLYWOOD, Fla.--(BUSINESS WIRE)--TIC Solutions, Inc. (NYSE: TIC) (the "Company†or "TIC Solutions†), a leading provider of critical asset integrity solutions and tech-enabled, mission- critical Testing, Inspection, Certification, and Compliance (TICC) and engineering services, announced today that its senior leadership will be participating in the 2025 Raymond James Napa Valley Small Cap Symposium on Monday, November 17, 2025 in Napa, CA. About TIC Solutions: Nov 14, 2025 4:30 PM Eastern Standard Ti ...

Financial Data and Key Metrics Changes - Third quarter revenue reached $473.9 million, showing substantial year-over-year growth, primarily due to two months of NV5's contribution following the acquisition [14] - On a combined basis, year-to-date growth was approximately 4.7%, with a 2.4% growth rate if the acquisition had occurred on January 1, 2024 [14] - Adjusted EBITDA for the third quarter was $77.3 million, representing an adjusted EBITDA margin of 16.3%, compared to $51.3 million with a margin of 16.9% in the prior year [17] Business Line Data and Key Metrics Changes - The inspection and mitigation segment generated approximately $293 million in revenue, down about 3% year-over-year, while the consulting engineering segment contributed approximately $122 million during the two-month period post-acquisition [15] - The geospatial segment contributed about $62 million during the same period, with a potential full quarter revenue of approximately $90 million, reflecting a 4% increase year-over-year [16] Market Data and Key Metrics Changes - The data center work for hyperscaler clients more than doubled over the trailing 12 months, driven by accelerating demand from AI and cloud infrastructure buildouts [8] - Infrastructure investments supporting grid modernization and energy transition are creating new opportunities across all three segments [9] Company Strategy and Development Direction - The company aims to expand the markets served and services provided within the TIC and engineering space, focusing on a unified platform dedicated to reliability, innovation, and service excellence [5][7] - The integration of Acuren and NV5 is expected to create meaningful synergies and enhance capabilities across critical asset lifecycle management [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth drivers, including aging infrastructure and increasing regulatory complexity, which are expected to support demand for services [25] - The company reaffirmed its full-year 2025 guidance, expecting revenue in the range of $1.530 billion to $1.565 billion and adjusted EBITDA between $240 million and $250 million [20] Other Important Information - The company completed a $250 million private placement to strengthen its balance sheet and provide flexibility for growth opportunities [18] - The integration program is progressing well, with an increased cost synergy target from $20 million to $25 million expected to be realized by mid-2027 [21][22] Q&A Session Summary Question: What is the reasonable range for annual free cash flow after integration? - Management indicated that the business is a high-free cash flow business with low CapEx and high margins, but specific guidance on free cash flow has not been provided [30] Question: Is the $400 million revenue target for data centers still in place? - Management confirmed that the data center business has seen over 100% growth year-to-date and is a significant focus area, with potential for accelerated growth due to the combination with Acuren [32][33] Question: What is the status of exiting lower-margin customer contracts? - Management noted that the softness in the third quarter was primarily timing-related and that they are actively managing relationships to improve margins [35] Question: How has the government shutdown impacted the geospatial segment? - Management reported limited impact from the government shutdown, with optimism for a quick return to normal operations [40] Question: What are the expectations for the inspection and mitigation segment's turnaround activity? - Management indicated that turnaround activity has not materially changed and is primarily affected by the timing of LNG projects [44] Question: Can you elaborate on the drivers for the increased synergy target? - Management clarified that the increased target is purely cost synergies, focusing on back-office support and organizational efficiency [48]