NV5 Acquires Forensics Engineering Business from GHD, Strengthening Capabilities in Florida and the Southeast
November 11 2019 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of professional and technical
engineering and consulting solutions, announced today that it has
acquired the forensics engineering business of GHD Group
(“GHD”). The acquisition of GHD’s forensics engineering
business adds 57 employees in Florida, Tennessee, and Texas who
specialize in the provision of engineering, scientific
investigation, litigation support, construction consulting, and
estimating services to national and regional insurers for claims
involving residential and commercial properties. The
acquisition was an all-cash transaction and will be immediately
accretive to NV5’s earnings.
“The addition of GHD’s forensics engineering business to our
existing forensics group makes us one of the nation’s leading
forensics consultants and expands our capabilities in a
specialized, high-margin service offering throughout the Southeast
market. We now have a platform to expand this service line
nationally and access to a number of premiere clients in the
insurance industry,” said Dickerson Wright, PE, Chairman and CEO of
NV5. “This is our eighth acquisition in the Southeast and is
a great fit for our strategy of building technical capabilities in
services with significant barriers to entry, while strengthening
our presence in high-growth markets.”
“Over the last 20 years we have developed a suite of forensics
services in Florida and moved into the Southeast market while
building a loyal client base of the largest insurers in North
America,” said Kevin Ormsby, Vice President of Forensics
Services. “NV5’s commitment to forensics services, along with
its engineering design and consulting capabilities and national
presence, provides an immediate opportunity to grow our client
relationships through additional service offerings and geographic
expansion.”
AEC Advisors served as the financial advisor to GHD.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of professional and technical engineering and consulting
solutions ranked #34 in the Engineering News-Record Top 500 Design
Firms list. NV5 serves public and private sector clients in the
infrastructure, energy, construction, real estate, and
environmental markets. NV5 primarily focuses on five business
verticals: construction quality assurance, infrastructure
engineering and support services, energy, program management, and
environmental solutions. The Company operates out of more than 100
locations worldwide. For additional information, please visit the
Company’s website at www.NV5.com. Also visit the Company on
Twitter, LinkedIn, Facebook, and Vimeo.
Forward-Looking StatementsThis press release
contains “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. The Company cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements contained in this news release. Such factors include:
(a) changes in demand from the local and state government and
private clients that we serve; (b) general economic conditions,
nationally and globally, and their effect on the market for our
services; (c) competitive pressures and trends in our industry and
our ability to successfully compete with our competitors; (d)
changes in laws, regulations, or policies; and (e) the “Risk
Factors” set forth in the Company’s most recent SEC filings. All
forward-looking statements are based on information available to
the Company on the date hereof, and the Company assumes no
obligation to update such statements, except as required by
law.
Investor Relations Contact
NV5 Global, Inc.Jack CochranVice President, Marketing &
Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com
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