HOLLYWOOD, Fla., Nov. 11, 2019 (GLOBE NEWSWIRE) -- 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.
NV5 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.
This 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.
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