Leading California Municipality Selects NV5 for $5 Million Plan Review, Testing, and Inspection Services Contract

Rhea-AI Summary

NV5 Global, Inc. (NASDAQ: NVEE) has secured a $5 million contract from a Bay Area county government for a five-year agreement. The contract encompasses plan review, inspection, and materials testing for various county-owned facilities, including healthcare and infrastructure projects. NV5’s comprehensive service delivery was a key factor in winning this contract, marking its first such agreement with the county. The company aims to expand its public sector services, indicating confidence from municipalities in NV5's capabilities.

Positive

• Awarded a $5 million contract for plan review, inspection, and materials testing services.
• The contract is a five-year agreement with a Bay Area county, enhancing NV5's footprint in public sector services.
• Represents NV5's first testing, inspection, and consulting agreement with the county, indicating trust in its service quality.

Negative

• None.

HOLLYWOOD, Fla., Oct. 07, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that it has been awarded a $5 million contract by a Bay Area county government to provide plan review, inspection, and materials testing services for county-owned facilities and infrastructure. Healthcare facilities, office complexes, roadway and light rail infrastructure, and various other county assets are examples of projects that would be included in the scope of this five-year agreement.

NV5’s ability to deliver the entire scope of the contract, including plan review, inspection, and materials testing services, was a primary factor in its selection for this award. This contract is NV5’s first testing, inspection, and consulting services agreement with the county.

“The selection of NV5 for municipal building department services underscores the confidence that municipalities have placed in NV5, and we are pleased to help our clients verify the quality and safety of assets and facilities throughout their jurisdictions,” said Dickerson Wright, PE, Chairman and CEO of NV5.

“We are excited to support the county’s building safety needs for the next several years and are optimistic about the continued expansion of NV5’s plan review, inspection, and testing services for our growing list of public sector clients,” said Shannon Hunter, Senior Project Manager at NV5.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of compliance, technology, and engineering consulting solutions for public and private sector clients supporting infrastructure, utility, and building assets and systems. The Company primarily focuses on six business verticals: testing, inspection & consulting, infrastructure support services, utility services, buildings & program management, environmental health sciences, and geospatial technology services. NV5 operates out of more than 100 offices nationwide and abroad. 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 Statements
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.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc.

FAQ

What is the recent contract awarded to NV5 Global, Inc. (NVEE)?

NV5 was awarded a $5 million contract for plan review, inspection, and materials testing services by a Bay Area county government.

How long is the contract NV5 Global, Inc. (NVEE) received?

The contract is a five-year agreement.

What services will NV5 provide under the new contract?

NV5 will provide plan review, inspection, and materials testing services for county-owned facilities and infrastructure.

Is this the first time NV5 Global, Inc. (NVEE) has worked with this county?

Yes, this contract marks NV5's first testing, inspection, and consulting services agreement with the county.

What type of projects are included in the NV5 Global, Inc. (NVEE) contract?

The projects include healthcare facilities, office complexes, roadway, and light rail infrastructure.