H.I.G. Capital agrees to buy Mistras for about $866m

H.I.G. Capital agreed to acquire Mistras Group for $20.35 a share in cash, valuing the industrial inspection and testing company at about $866m including debt, according to a Friday filing.

Cash is the whole offer. Mistras said the price is about 8 percent above its 30-day volume-weighted average and 13 percent above its 90-day average through Thursday.

The deal is expected to close in late 2026 or early 2027, subject to shareholder and regulatory approvals. Holders of about 31 percent of Mistras shares have signed voting and support agreements.

Mistras has a 40-day go-shop period ending October 27. Its board may seek competing proposals during that window, and the filing gives no assurance that one will emerge.