Permian funds hold 8.7% of TIC Solutions (TIC) shares

Rhea-AI Filing Summary

Permian Investment Partners and related funds filed an amended Schedule 13G reporting beneficial ownership of 19,168,108 TIC Solutions, Inc. common shares, equal to 8.7% of the class. The shares are held through Permian Master Fund, Permian Nautilus Master Fund, Permian Treble Master Fund, managed accounts, and Permian GP, LLC.

The ownership percentages are calculated using 220,559,713 TIC Solutions common shares outstanding as of November 10, 2025, as disclosed in the company’s Form 10-Q. The reporting persons certify the holdings were not acquired and are not held for the purpose of changing or influencing control of TIC Solutions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TIC Solutions, Inc.

(Name of Issuer)

Common Stock, par value $0.0001

(Title of Class of Securities)

00510N102

(CUSIP Number)

02/14/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 00510N102

1

Names of Reporting Persons

Permian Investment Partners, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,168,108.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,168,108.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,168,108.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.7 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 00510N102

1

Names of Reporting Persons

Permian Master Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,541,451.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,541,451.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,541,451.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 00510N102

1

Names of Reporting Persons

Permian Nautilus Master Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,512,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,512,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,512,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 00510N102

1

Names of Reporting Persons

Permian Treble Master Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,512,525.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,512,525.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,512,525.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 00510N102

1

Names of Reporting Persons

Permian GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,565,976.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,565,976.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,565,976.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TIC Solutions, Inc.
(b)	Address of issuer's principal executive offices: 200 SOUTH PARK ROAD, SUITE 350, HOLLYWOOD, FLORIDA, 33021.
Item 2.
(a)	Name of person filing: This statement is being jointly filed by and on behalf of each of Permian Investment Partners, LP, a Delaware limited partnership ('Permian'); Permian Master Fund, L.P., a Cayman Islands limited partnership, Permian Nautilus Master Fund, LP, a Cayman Islands limited partnership, Permian Treble Master Fund, LP, a Delaware limited partnership (collectively 'Permian Funds'); and Permian GP, LLC, a Delaware limited liability company, ('Fund General Partner'). The Permian Funds and separately managed accounts on behalf of investment advisory clients ('Managed Accounts') of Permian are the record and direct beneficial owners of the securities covered by this statement. The Fund General Partner is the general partner of, and may be deemed to beneficially own securities owned by, Permian Funds. As the investment adviser to Permian Funds and Managed Accounts, Permian may be deemed to beneficially own the securities covered by this statement. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement. Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.
(b)	Address or principal business office or, if none, residence: 1333 Oak Lawn Ave, Suite 900, Dallas, Texas, 75207
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Common Stock, par value $0.0001
(e)	CUSIP No.: 00510N102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: The percentage calculated in Item 11 is based on 220,559,713 shares of Common Stock outstanding as of November 10, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on November 12, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Permian Investment Partners, LP

Signature:	/s/ Britton Brown
Name/Title:	Chief Financial Officer and Chief Compliance Officer
Date:	02/17/2026

Permian Master Fund, L.P.

Signature:	/s/ Britton Brown
Name/Title:	Authorized Signatory
Date:	02/17/2026

Permian Nautilus Master Fund, LP

Signature:	/s/ Britton Brown
Name/Title:	Authorized Signatory
Date:	02/17/2026

Permian Treble Master Fund, LP

Signature:	/s/ Britton Brown
Name/Title:	Authorized Signatory
Date:	02/17/2026

Permian GP, LLC

Signature:	/s/ Britton Brown
Name/Title:	Authorized Signatory
Date:	02/17/2026

FAQ

What stake in TIC Solutions (TIC) does Permian report in this Schedule 13G/A?

Permian reports beneficial ownership of 19,168,108 TIC Solutions common shares, representing 8.7% of the class. This percentage is based on 220,559,713 shares outstanding as of November 10, 2025, as disclosed in TIC Solutions’ Form 10-Q.

Which Permian entities are included in this TIC Solutions (TIC) ownership filing?

The filing covers Permian Investment Partners, Permian Master Fund, Permian Nautilus Master Fund, Permian Treble Master Fund, and Permian GP, LLC. These funds and related managed accounts are the record and direct beneficial owners of TIC Solutions common stock reported in the Schedule 13G/A.

How much TIC Solutions (TIC) stock does Permian Master Fund specifically own?

Permian Master Fund, L.P. reports beneficial ownership of 5,541,451 TIC Solutions common shares, equal to 2.5% of the outstanding class. These shares are reported with shared voting and shared dispositive power rather than sole authority over voting or disposition decisions.

Is Permian’s TIC Solutions (TIC) stake reported as a passive investment?

Yes. Permian certifies the TIC Solutions shares were not acquired and are not held to change or influence control of the issuer. They state the holdings are not connected with any transaction intended to affect control, other than possible activities tied to proxy nomination rules.

What is the total share count used to calculate Permian’s 8.7% TIC Solutions (TIC) ownership?

The 8.7% ownership figure is calculated using 220,559,713 TIC Solutions common shares outstanding as of November 10, 2025. That outstanding share count comes from TIC Solutions’ Form 10-Q filed with the SEC on November 12, 2025.

When did the ownership event for this TIC Solutions (TIC) Schedule 13G/A occur?

The relevant event date is February 14, 2025, which is listed as the date of the event requiring this Schedule 13G/A filing. The amendment updates Permian’s reported beneficial ownership in TIC Solutions as of that event date.

What class of TIC Solutions (TIC) securities does Permian’s Schedule 13G/A cover?

The filing covers TIC Solutions, Inc. common stock with a par value of $0.0001 per share, identified by CUSIP 00510N102. All ownership percentages and share counts in the Schedule 13G/A refer specifically to this common stock class.