H.I.G. Capital to Acquire MISTRAS Group for $866 Million

H.I.G. Capital affiliates entered a definitive agreement to acquire MISTRAS Group, Inc. in an all-cash transaction. The deal values the industrial asset-integrity and nondestructive testing services provider at $20.35 per share, implying an enterprise value of approximately $866 million including debt.

The purchase price reflects premiums of roughly 8% over the 30-day and 13% over the 90-day volume-weighted average prices ending September 17, 2026. The MISTRAS board has unanimously approved the acquisition, and shareholders holding about 31% of voting power have already signed support agreements.

The merger agreement includes a 40-day go-shop period that expires on October 27, 2026, allowing the company to seek alternative bids. The transaction is expected to close in late 2026 or early 2027, pending customary regulatory and stockholder approvals.