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HOLLYWOOD, Fla., July 02, 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 GeoDesign, Inc. (“GeoDesign”), a geotechnical, environmental, geological, mining and pavement engineering company with five offices and 91 employees serving Washington, Oregon and California. GeoDesign’s presence throughout the Pacific Northwest complements NV5’s strong geotechnical capabilities in California and provides cross-selling opportunities for NV5’s large client base in the Power market sector as well as in the Puget Sound region. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“We are excited about the addition of GeoDesign, as it will make an immediate impact on the services we can provide to our clients in the Pacific Northwest and supports our ENERGY 2021 Initiative by expanding our offering to Power clients up and down the West Coast,” said Dickerson Wright, PE, Chairman and CEO of NV5. “We now have 34 locations in California, Oregon and Washington, giving us access to projects and clients everywhere from Seattle to San Diego.”
“Over the last 22 years, our investments in the best professionals and the latest engineering equipment and service delivery technologies have made us the premier geotechnical and geological consulting firm in the Pacific Northwest,” said Scott Mills, PE, GE, President of GeoDesign. “NV5’s commitment to these principles, along with its growing client base in Washington and Oregon, makes this acquisition a perfect strategic fit and allows us to make an immediate impact on the client relationships that NV5 already possesses in the region.”
Founded in 1997, GeoDesign, Inc. is a geotechnical engineering, environmental, geological, mining and pavement consulting company. GeoDesign offers a team of highly trained experts, with 91 dedicated engineers, geologists and technical personnel. From five offices throughout Washington, Oregon and California, GeoDesign provides extensive support, constructive communication and consultation with the highest quality results.
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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Source: NV5 Global, Inc.