NV5 Acquires Global Realty Services Group, Expands Market Leadership Position in Real Estate Transaction Services
Nev5 Global, Inc. (NASDAQ: NVEE) has acquired Global Realty Services Group LLC (GRS) in an all-cash transaction, enhancing its position in the real estate due diligence sector. This acquisition adds 154 full-time employees and allows NV5 to leverage GRS's proprietary G-NET system for improved efficiency. The real estate transaction business has already seen double-digit growth in 2021, and the integration of GRS is expected to drive additional growth in this high-margin market. GRS has conducted over 10,000 projects, serving a diverse clientele, which will further expand NV5's reach.
- Accretive to NV5's earnings immediately following the acquisition.
- Enhances NV5's position in the high-growth real estate due diligence market.
- GRS adds 154 full-time employees and a proven client base.
- Utilization of GRS's G-NET system for improved project management and efficiency.
- Potential for additional growth following double-digit growth in 2021.
- None.
HOLLYWOOD, Fla., Dec. 23, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has acquired Global Realty Services Group LLC (GRS), a leader in real estate due diligence and transaction services providing property condition assessments, environmental assessments, and zoning services for real estate portfolio transactions. GRS is one of the fastest growing providers of due diligence services and serves commercial mortgage lenders, government-sponsored enterprise agencies, insurance companies, real estate investment trusts, and loan originators. NV5 acquired GRS in an all-cash transaction, and it will be immediately accretive to NV5’s earnings.
“The addition of GRS to our existing real estate transaction services makes us the preeminent provider in the high-growth, high-margin real estate due diligence market,” said Dickerson Wright, PE, Chairman & CEO of NV5. “Our real estate transaction business has generated double digit growth in 2021, and the addition of GRS’s 154 full-time equivalent personnel, premiere client list, and attractive end markets will help to drive additional growth in this highly-profitable sector.”
GRS has completed over 10,000 projects across North America and utilizes a proprietary web-based data management system called G-NET which facilitates resource deployment, project management, and productivity reporting. The G-NET system allows GRS to deliver quicker response times for client needs with improved efficiency and profitability.
“We are excited to join the NV5 team and look forward to the competitive advantage resulting from our combined technical resources and expanded network and the opportunities that this transaction will create for our clients and our employees,” said Noreen Clindinning, President of GRS.
About Global Realty Services Group
Founded in 2009, GRS delivers real estate due diligence services for commercial and industrial real estate transactions and operates out of offices in Chicago, IL and Irvine, CA. GRS’s network of highly qualified field professionals, surveyors, architects, and engineers utilize proprietary technology and processes to deliver environmental assessments, surveys, property condition assessments, and zoning services to support real estate transactions throughout the U.S. and in 22 international countries.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of compliance, technology, engineering, and environmental 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, utility services, buildings & program management, 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
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