Acuren Corporation: Hold Rating Amid Strategic Integration and Market VolatilityWe hosted TIC Solutions management at the UBS Global Industrials Conference. Management articulated a longer-term vision to build an end-to-end engineering, testing, inspection, and assessment services company. The aperture of opportunities appears quite wide post NV5 acquisition, and if executed well, should deliver a runway of growth/margin opportunity over time. In the nearer term, management is focused on the initial phases of integration while also setting 2026 guidance seemingly prudently following a choppier 2025. We see a longer-term opportunity/potential here, though we are patient in the earlier stages of the transformation journey. 2025 Reiterates 2026 growth expectation.