NV5 Acquires Diversified Consulting Solutions, Strengthens Owner Representation Services

Rhea-AI Summary

NV5 Global has announced the acquisition of Diversified Consulting Solutions (DCS), enhancing its owner representation services in the Mountain West Region. This transaction combines cash and stock and is immediately accretive to earnings. DCS, based in Denver, specializes in comprehensive consulting for municipalities and educational sectors, managing projects from concept through completion. The CEO of NV5 expressed enthusiasm for growth in this high-margin service area, anticipating further expansion. With over 400 million dollars managed by DCS, this acquisition is expected to strengthen NV5’s service offerings and market presence.

Positive

• Acquisition of DCS enhances NV5's owner representation capabilities in the Mountain West Region.
• The transaction is immediately accretive to earnings.
• DCS brings over $400 million in managed improvements, potentially boosting NV5's revenue.
• Strategic growth focus on high-margin owner representation services.

Negative

• None.

HOLLYWOOD, Fla., Feb. 21, 2023 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has acquired Diversified Consulting Solutions (“DCS”), a leading provider of owner representation services in the Mountain West Region. The acquisition was made with a combination of cash and stock and will be immediately accretive to earnings.

Headquartered in Denver, Colorado, DCS specializes in owner representation consulting for municipalities and the K-12 and higher education markets. DCS oversees projects on an owner’s behalf from concept through construction and final delivery. Services delivered by DCS include scheduling, vendor selection and payment, percent of completion calculation, and quality assurance.

“We are pleased to welcome the team at DCS to our growing owner representation group at NV5, and we look forward to the contributions they will make to delivering industry-leading service for our clientele in Colorado and surrounding states” said Dickerson Wright, PE, Chairman and CEO of NV5. “Growth of our owner representation group will continue to be an area of focus within NV5, and we anticipate further expansion of this high margin, high barrier-to-entry service offering.”

“We are excited to collaborate with the existing NV5 owner representation groups in Colorado and around the country, and we look forward to the new opportunities that NV5 will provide for our employees and clients,” said John Sattler, President of DCS.

About DCS
DCS has been providing exceptional owner representation and program management consulting services since 1998. DCS becomes an extension of each client’s development team to identify facility objectives and critical success factors, assist in the selection of team members to deliver on those objectives, and guide the successful delivery of each project. The DCS team’s experience working with large groups of diverse stakeholders and project participants with significant public and governmental accountabilities is a competitive advantage, having managed more than $400 million in constructed improvements.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: testing, inspection & consulting, infrastructure engineering, utility services, buildings & owner representation, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. 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 LinkedIn, Twitter, Facebook, and Instagram.

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 

FAQ

What is the recent acquisition by NV5 Global?

NV5 Global has acquired Diversified Consulting Solutions (DCS), a provider of owner representation services.

How does the acquisition impact NV5's earnings?

The acquisition is immediately accretive to earnings.

What services does DCS provide?

DCS specializes in owner representation consulting for municipalities and educational markets, overseeing projects from concept through construction.

What is the significance of DCS's experience?

DCS has managed over $400 million in constructed improvements, bringing valuable expertise to NV5.