Mistras Group Inc. (MG) stock climbed Friday after the company agreed to be acquired by affiliates of H.I.G. Capital in an all-cash deal valued at about $866 million, including debt.

H.I.G. Capital Offers $20.35 Per Share

Under the agreement announced Friday, Mistras shareholders will receive $20.35 per share in cash.

The offer represents premiums of about 8% and 13% to Mistras' 30-day and 90-day volume-weighted average share prices, respectively, through Sept. 17.

The purchase price also represents a 61% increase from the stock's closing price on Dec. 31, 2025.

Mistras CEO Natalia Shuman said H.I.G. Capital's investment reflects progress under the company's Vision2030 transformation. The strategy has focused on deeper customer relationships, expansion into high-growth markets and greater operating efficiency.

The Mistras board unanimously approved the transaction. The deal is expected to close in late 2026 or early 2027, subject to shareholder approval, regulatory clearances and other customary conditions.

Mistras Beat Second-Quarter Estimates

Last month, the company reported second-quarter adjusted EPS of 28 cents, beating the 24-cent estimate. Revenue of $193.13 million also topped the $189.66 million estimate.

It raised its fiscal 2026 sales guidance to $740 million-$755 million from $730 million-$750 million. The consensus estimate was $746.02 million.

The company ended June with $22 million in cash and equivalents. Gross debt stood at $172.1 million, while net debt was $150.1 million.

What Mistras Does

Mistras provides asset protection services for critical energy, industrial and public infrastructure. Its services include inspection, nondestructive testing and engineering solutions designed to assess structural integrity and reliability.

The company operates through North America, International, and Products and Systems segments, with North America accounting for most of its revenue.

MG Price Action: Mistras Group shares were up 5.24% at $20.88 at the time of publication on Friday. The stock is trading at a new 52-week high, according to market data.