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NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of technology, conformity assessment, and consulting solutions, serving both public and private sector clients. Headquartered in Hollywood, Florida, NV5 operates over 100 offices across the United States and internationally. The company focuses on several key verticals: utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services.
NV5's comprehensive suite of services includes construction inspection, office engineering, claims resolution, and constructability support for major infrastructure projects. Notably, the company has a long-standing relationship with Caltrans, providing ongoing services across multiple districts in California. Recent contracts highlight NV5's role in improving transportation infrastructure and supporting community mobility.
With a history spanning over 60 years, NV5 has built a reputation for delivering high-quality, innovative solutions tailored to client needs. Their clientele ranges from U.S. federal, state, and local governments to private sector entities, emphasizing the company's versatility and reliability in addressing diverse challenges.
NV5's recent acquisitions, such as GIS Solutions and ASG Engineering Consultants, have significantly bolstered their capabilities in geospatial technology and structural engineering. These strategic moves enhance NV5's ability to offer comprehensive design solutions and manage large-scale projects in high-growth regions like the Middle East and Asia Pacific.
Financially, NV5 exhibits robust growth, driven by an aggressive acquisition strategy and a focus on tech-enabled services that offer higher margins and scalability. The company continues to pursue opportunities in geospatial and other technology-driven sectors to expand its market footprint and deliver sustainable solutions to complex problems.
For more information, visit the company's website at www.NV5.com or follow them on LinkedIn, Twitter, Facebook, and Vimeo.
NV5 has secured a $5 million, five-year contract from the Georgia Department of Transportation (GDOT) to lead the Watkinsville Bypass project in Oconee County, Georgia. The project aims to connect SR 24 and SR 15, improving connectivity and traffic flow by rerouting trucks away from downtown Watkinsville. NV5 will provide comprehensive services including geomatics, environmental studies, roadway and bridge design, hydraulic analysis, traffic engineering, and right-of-way services. The bypass project emerged from a 2021 transportation study and is expected to contribute to regional development and transportation efficiency.
NV5 (Nasdaq: NVEE), a provider of technology, certification, and consulting solutions, announced it has been awarded over $7 million in infrastructure design contracts by the City of Philadelphia. The projects are expected to be completed by 2028 and aim to enhance the city's commitment to creating more resilient and sustainable communities. NV5's planners, engineers, and landscape architects will support Philadelphia’s green infrastructure, sustainability, and safety initiatives, contributing to the planning and design of critical infrastructure. This includes green infrastructure, parks, greenways, and traffic safety improvements to reduce roadway deaths and serious injuries within the city's high-injury network. Alex Hockman, CEO of Infrastructure at NV5, highlighted that these projects underscore NV5's market leadership in green infrastructure and its ability to deliver sustainable design solutions that meet evolving urban challenges.
NV5 has announced an agreement to acquire Global Fire Protection Group (Global FPG), a provider of fire safety engineering, inspection, and consulting services. The acquisition, made through a combination of cash and stock, will be immediately accretive to NV5's earnings. Global FPG, founded in 2014, operates in all 50 U.S. states, eight Canadian provinces, and has completed projects in 39 countries.
Global FPG specializes in fire protection services for data centers, healthcare, utilities, and industrial sectors, offering suppression, detection, and compartmentation disciplines. The acquisition aims to enhance NV5's existing mechanical, electrical, plumbing, and technology design services through cross-selling opportunities in high-margin, recurring fire protection services.
NV5 has secured $10 million in contracts from the U.S. Geological Survey (USGS) to provide high-precision geospatial services supporting the Earth Mapping Resources Initiative (Earth MRI) program. The projects aim to identify and manage critical minerals across multiple U.S. regions, reducing dependence on international suppliers.
The contracts include:
- Magnetic and radiometric data acquisition across 11,100 square miles in Western Texas, including Big Bend National Park
- Survey of 7,300 square miles in New Mexico using fixed-wing aircraft and helicopters
- Geophysical survey in Michigan's Lake Superior region
- Processing of 22,000 linear miles of data in the Colorado Mineral Belt
These initiatives support domestic critical mineral exploration, important for energy independence and national resource security.
NV5 has acquired Southport Engineering Associates on December 4, 2024, strengthening its energy efficiency and building technology solutions in New York City. Southport Engineering, founded in 1996, provides turnkey energy efficiency, engineering design, and owner representation consulting services to various sectors including hospitality, educational, healthcare, industrial, gaming, and financial.
The acquisition, completed through a combination of cash and stock, will be immediately accretive to NV5's earnings. Southport Engineering's unique approach includes comprehensive energy studies and efficiency solutions throughout project lifecycles, from engineering design to commissioning services. The merger aims to enhance cross-selling opportunities and expand NV5's presence in the Northeast region.
NV5 has secured $14 million in multi-year infrastructure consulting contracts across Southern California. The company will provide not-at-risk construction management services for transportation infrastructure improvements in a major Southern California county under a five-year contract. Additionally, two Los Angeles County municipalities have selected NV5 for engineering, water resources, and construction management services. These projects aim to enhance traffic capacity, safety, and sustainable water management practices while supporting long-term development needs.
NV5 has secured $46 million in contracts to support electrical grid hardening and fire mitigation efforts in the Western United States. The company will provide engineering design, surveying, construction quality assurance, and downed pole monitoring services. The contracts include $38 million for strategic undergrounding of electrical transmission and distribution power lines, and $8 million for grid hardening projects. These initiatives aim to mitigate wildfire risks, reduce accidents, and enhance electrical service reliability.
NV5 Global (NVEE) reported record preliminary unaudited Q3 2024 results with gross revenues growing 6% to $250.9 million and net income increasing 31% to $17.1 million. The company achieved significant improvements in profitability metrics, with gross margin expanding 350 basis points to 51.6% and Adjusted EBITDA margin rising to 17.7%. Cash flows from operations surged 145% to $48.9 million. The company updated its full-year 2024 guidance, projecting gross revenues between $939-943 million. However, NV5 identified revenue misstatements from prior periods related to an acquisition and plans to file a Form 12b-25 extension for its Q3 2024 10-Q filing.
NV5 Global has secured a $7 million contract to lead the engineering design and construction management for the Lake Havasu City Second Bridge and Roadway Project in Arizona. The three-year infrastructure project will create a second connection from the mainland to Lake Havasu Island, which currently has only one access point via the historic London Bridge. The new bridge aims to reduce traffic congestion, support economic development, and improve emergency vehicle access while facilitating population growth in Lake Havasu City.
NV5 Global has secured $14 million in contracts for global data center infrastructure development. The company will focus on enhancing scalability and efficiency in both new construction and retrofitting existing data centers to handle AI-driven workload demands. NV5 has exceeded one gigawatt in data center MEP design and CFD analysis globally through September 2024. Through their services, NV5 has helped clients unlock approximately 300MW of additional computing capacity in 2024, equivalent to powering 100,000 homes.
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