Under the terms of the agreement announced Friday, Mistras shareholders will receive $20.35 per share. This offer provides a modest premium of 8% and 13% over the company’s 30-day and 90-day volume-weighted average prices, respectively, calculated through mid-September. The deal follows a remarkable year for the firm, which saw its stock value double over the last 52 weeks before closing at $19.84 on Thursday.

While the transaction awaits shareholder approval and customary closing conditions, the contract includes a 40-day window allowing Mistras to solicit alternative bids. H.I.G. Capital enters the fray with initial backing from holders representing roughly 31% of the total outstanding stock. If cleared by regulators and investors, the acquisition is expected to finalize between late 2026 and early 2027. Following the announcement, Mistras shares ticked up 3% to $20.50 in premarket activity.