Bowman Secures 4-Year Contract to Provide Engineering Design Services for the University of New Mexico

Rhea-AI Summary

Bowman Consulting Group (NASDAQ: BWMN) has secured a four-year contract with the University of New Mexico (UNM) to provide on-call engineering design services, with a total aggregate cap of $7.5 million. The contract encompasses surveying, civil engineering, and subsurface utility engineering services across UNM's network, including Central and Branch campuses, UNM Hospital, Science & Technology Park, and Health Sciences Center.

The company will focus on the UNM Hospital, providing subsurface utility mapping and surveying for construction and expansion projects. Bowman will implement advanced drone imaging and GIS modeling technology to create and maintain digital records of UNM's utility conditions. This contract builds upon the relationship established through Bowman's acquisition of High Mesa, which has contributed to hundreds of projects across the university.

Positive

• Secured new 4-year contract worth up to $7.5 million
• Expands presence in higher education market
• Leverages advanced technologies for service delivery
• Builds upon existing client relationship through previous acquisition

Negative

• None.

Insights

Engineering Services Analyst

This $7.5 million contract win represents a strategic victory for Bowman Consulting Group, demonstrating successful execution of their acquisition-driven growth strategy. The contract's structure as a 4-year on-call agreement is particularly valuable as it provides predictable revenue streams and deeper institutional client relationships. While the $7.5 million cap represents approximately 1.9% of Bowman's current market capitalization, the true value extends beyond immediate financial impact.

The contract's comprehensive scope across UNM's diverse facilities portfolio - from academic campuses to medical centers - positions Bowman advantageously in the growing higher education infrastructure market. Their integration of advanced technologies like drone imaging and GIS modeling for utility mapping indicates strong differentiation in a sector traditionally slow to adopt digital innovations.

The retention and expansion of client relationships post-acquisition (High Mesa) validates Bowman's M&A strategy effectiveness. This contract serves as a proof point for their ability to not only maintain but grow acquired client relationships - a critical success factor in the engineering services sector where client retention directly impacts long-term profitability.

The focus on subsurface utility engineering and infrastructure planning for healthcare facilities, particularly the UNM Hospital, aligns with growing demand for specialized engineering services in the healthcare sector. This positions Bowman to capture additional market share in this high-value segment where expertise in medical facility infrastructure commands premium pricing.

RESTON, Va.--(BUSINESS WIRE)-- Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services firm offering infrastructure, technology and program management solutions, has been awarded a four-year contract to provide on-call engineering design services for the University of New Mexico (UNM) with a total aggregate cap of $7.5 million.

Under the multi-year agreement, Bowman may provide surveying, civil engineering and subsurface utility engineering (SUE) services across UNM’s extensive network of campuses, medical facilities, research hubs and academic institutions. These include UNM’s Central and Branch campuses, UNM Hospital, the UNM Science & Technology Park, South Campus, the UNM Comprehensive Cancer Center and the UNM Health Sciences Center. Bowman’s expertise in these disciplines will support campus expansion, facility upgrades and long-term infrastructure planning.

A key focus of Bowman’s work is the UNM Hospital, where the team will assist with subsurface utility mapping and surveying for ongoing construction and expansion projects. Additionally, Bowman will deploy advanced drone imaging and GIS modeling technology to create and maintain detailed digital records of UNM’s existing utility conditions.

“This assignment with UNM speaks to Bowman’s commitment to maintaining and strengthening the client relationships established by acquired firms while also driving organic growth,” said Gary Bowman, chairman and CEO of Bowman. “By expanding and investing in advanced technologies, we have enhanced our capabilities in surveying, SUE and GIS modeling. This positions us to support UNM’s evolving infrastructure needs with data-driven solutions that ensure long-term sustainability and efficiency across its campuses.”

Through Bowman’s acquisition of High Mesa, the Company continues to build upon a decades-long relationship with UNM, contributing to hundreds of projects and studies across the university, including subsurface utilities, surveying, civil engineering design and construction. This new contract builds on that legacy to further strengthen Bowman’s presence in the higher education market and its reputation as a trusted provider of engineering solutions.

About Bowman Consulting Group Ltd.

Headquartered in Reston, Virginia, Bowman is a national engineering services firm delivering infrastructure, technology and project management solutions to customers who own, develop and maintain the built environment. With over 2,300 employees in more than 100 locations throughout the United States, Bowman provides extensive planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250213303946/en/

General Media Contact:

Renee Narvaez

pr@bowman.com

Investor Relations Contact:

Betsy Patterson

ir@bowman.com

Source: Bowman Consulting Group

FAQ

What is the value of Bowman's (BWMN) new contract with the University of New Mexico?

Bowman (BWMN) secured a four-year contract with a total aggregate cap of $7.5 million to provide on-call engineering design services for the University of New Mexico.

What services will Bowman (BWMN) provide under the UNM contract?

Bowman will provide surveying, civil engineering, and subsurface utility engineering (SUE) services, along with drone imaging and GIS modeling technology services across UNM's campuses and facilities.

Which UNM facilities will be covered under Bowman's (BWMN) new contract?

The contract covers UNM's Central and Branch campuses, UNM Hospital, Science & Technology Park, South Campus, Comprehensive Cancer Center, and Health Sciences Center.

How will Bowman (BWMN) use technology in the UNM project?

Bowman will deploy advanced drone imaging and GIS modeling technology to create and maintain detailed digital records of UNM's existing utility conditions.