NV5 Acquires River City Testing, Strengthens Materials Testing and Inspection Services in Southern California
On March 2, 2022, NV5 Global (NASDAQ: NVEE) announced the acquisition of River City Testing, Inc. through an all-cash transaction. This strategic move enhances NV5's testing and consulting capabilities in Southern California, particularly in the Inland Empire region, which has a population of about 4 million. The acquisition includes a materials testing laboratory, which will bolster NV5’s engineering operations across Riverside and San Bernardino Counties. The deal is expected to be immediately accretive to earnings, further expanding NV5’s footprint and service offerings in the region.
- Acquisition of River City Testing expected to be immediately accretive to earnings.
- Strengthens NV5's testing and consulting capabilities in a populous region.
- Expands NV5's footprint and service offerings in Southern California.
- None.
HOLLYWOOD, Fla., March 02, 2022 (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 River City Testing, Inc. (RCT), a provider of materials testing and special inspection services primarily focused on public education facilities in Southern California’s Inland Empire Region through an asset purchase. The addition of RCT strengthens NV5’s testing, inspection, and consulting capabilities in the region and gives NV5 a materials testing laboratory to support NV5’s engineering operations in Riverside County and San Bernardino County. NV5 acquired RCT in an all-cash transaction, and it will be immediately accretive to NV5’s earnings.
“The Inland Empire is one of the most populous regions in California with approximately four million residents, and NV5’s presence in the region has expanded in recent years,” said Dickerson Wright, PE, Chairman & CEO of NV5. “The addition of RCT broadens our footprint in Southern California and expands our service capabilities throughout the region.”
“We are pleased to add River City Testing’s materials testing and inspection capabilities and its talented team of inspectors and technicians as we continue to grow our position in the Inland Empire and surrounding communities,” said Guillaume Gau, COO of Testing, Inspection, and Consulting at NV5.
About River City Testing
Founded in 2007, River City Testing is a provider of materials testing and special inspection services that specializes in the analysis of structural steel, concrete, and other building materials used in civil infrastructure and public sector facilities. River City Testing operates out of its materials testing laboratory in Riverside, California and specializes in testing and inspection for school board facilities in the Inland Empire Region.
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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