NV5 Acquires KMK Technologies, Strengthens Building Technology Solutions

Rhea-AI Summary

NV5 Global, Inc. (NASDAQ: NVEE) announced the acquisition of KMK Technologies, LLC, enhancing its technology design and consulting services. This strategic move aims to integrate KMK's advanced audiovisual, lighting, security, and IT systems capabilities into NV5's Buildings and Clean Energy business. The acquisition, completed with cash and stock, is expected to be immediately accretive to NV5's earnings. The addition of KMK solidifies NV5's competitive advantage in delivering integrated technical solutions for building systems design.

Positive

• Acquisition of KMK Technologies enhances NV5's technology design capabilities.
• Immediate accretive impact on NV5's earnings from the acquisition.
• Strengthened competitive advantage in integrated technical capabilities.

Negative

• None.

HOLLYWOOD, Fla., Sept. 16, 2022 (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 KMK Technologies, LLC. (KMK), a provider of technology design and consulting services. KMK serves public and private sector clients that require advanced audiovisual, lighting, security, and IT systems for their facilities. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.

“KMK has designed the building technology infrastructure for numerous high-profile projects, and we look forward to integrating these capabilities into our Buildings and Clean Energy business.   NV5’s ability to deliver both MEP and technology design provides a competitive advantage on projects requiring integrated technical capabilities, and the acquisition of KMK strengthens NV5’s position as a leader in building systems design and consulting,” said Dickerson Wright, PE, Chairman & CEO of NV5.

“We are pleased to welcome KMK to the NV5 team as it strengthens our technology design and consulting capabilities,” said Ben Heraud, COO of Buildings and Clean Energy Solutions at NV5.  

About KMK Technologies
Headquartered in Monroeville, NJ, KMK engineers serve facility owners and architects through world-class technology consulting and specialize in the design of audiovisual, security, Lighting, and IT infrastructure.   

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 & 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 

FAQ

What is NV5's recent acquisition about?

NV5 has acquired KMK Technologies to enhance its technology design and consulting services.

How will the KMK acquisition impact NV5's earnings?

The acquisition is expected to be immediately accretive to NV5's earnings.

What services does KMK Technologies provide?

KMK Technologies specializes in advanced audiovisual, lighting, security, and IT systems for various clients.

Why is the KMK acquisition important for NV5?

This acquisition strengthens NV5's position as a leader in building systems design and enhances its competitive advantage.