Mistras Group agreed on 18 September to be acquired by affiliates of H.I.G. Capital for $20.35 per share in cash, valuing the New Jersey-based inspection and testing company at about $866m including debt.
Market context
The price is a modest 8%-13% premium to Mistras's 30- and 90-day average prices, which is why the board negotiated a 40-day go-shop running to 27 October. Mid-cap industrial services companies have been frequent take-private targets for sponsors this year.
