Gulf Island Fabrication Acquires ENGlobal Units for $8.5M.

Gulf Island Fabrication has completed the acquisition of ENGlobal's automation, engineering, and government services businesses for $8.5 million. The acquisition was facilitated by a DIP Credit Agreement and involved a credit bid of the full DIP Loan amount and additional cash payments. TipRanks' AI Analyst, Spark, rates GIFI stock as Outperform, citing solid financial performance, technical indicators pointing to bullish momentum, and an attractive valuation.