NV5 Acquires Sage Renewable Energy Consulting, Expanding Clean Energy Consulting Capabilities

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) has acquired Sage Renewable Energy Consulting, enhancing its environmental and social governance (ESG) services. The deal, involving cash and stock, is expected to be immediately accretive to earnings. Sage, founded in 2009, has managed over $2 billion in clean energy projects, bolstering NV5's capabilities in sustainable energy planning, electric vehicle infrastructure, and asset management. This acquisition positions NV5 to capitalize on the growing clean energy market and expand its service offerings to clients nationwide.

Positive

• Acquisition of Sage Renewable Energy Consulting enhances NV5's ESG service portfolio.
• Transaction expected to be immediately accretive to earnings.
• Sage has successfully managed over $2 billion in clean energy projects.

Negative

• None.

HOLLYWOOD, Fla., Aug. 24, 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 Sage Renewable Energy Consulting, Inc. (Sage), a leader in comprehensive sustainable energy planning and project management services. Sage operates nationwide and expands NV5’s growing environmental, social, and governance (ESG) service portfolio. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.

Founded in 2009, Sage has successfully managed over $2 billion in clean energy projects and negotiated dozens of successful power purchase agreements for clients in the public and private sectors.

“Clean energy continues to grow as a percentage of NV5’s revenue,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Sage’s expertise in the renewables, battery storage, microgrid, and electric vehicle planning space enhances our ESG capabilities and presents opportunities for cross-selling with our existing ESG services.”

“Clean energy is a sector with high market growth potential, as evidenced by Sage’s continued organic growth, and we are excited to add Sage’s team and capabilities to our Energy Efficiency and Decarbonization group,” said Ben Heraud, COO of Energy Efficiency and Decarbonization at NV5.

“This transaction will enable us to accelerate the expansion of our practice and offer NV5 clients expertise in developing new clean energy systems, electric vehicle fleets and infrastructure, and asset management,” said Tom Willard, Principal at Sage.

About Sage Renewable Energy Consulting
Based in the San Francisco Bay Area, Sage Renewable Energy Consulting provides comprehensive energy planning and project management services for businesses, public agencies, and schools across the nation. Sage is a proven partner in cutting emissions and realizing Zero Net Energy goals, with industry-leading expertise in solar arrays, battery storage, energy efficiency, electric vehicle fleet planning, and electric vehicle charging. Sage is a strategic partner throughout the planning, development, construction, and lifetime stages of energy systems and microgrids.

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 

FAQ

What is the purpose of NV5's acquisition of Sage Renewable Energy Consulting?

The acquisition aims to enhance NV5's environmental and social governance (ESG) services and expand their clean energy project offerings.

How will the acquisition of Sage impact NV5's earnings?

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

What services does Sage Renewable Energy Consulting provide?

Sage offers comprehensive sustainable energy planning and project management services, focusing on solar arrays, energy efficiency, and electric vehicle infrastructure.

What is the financial background of Sage Renewable Energy Consulting?

Sage has managed over $2 billion in clean energy projects and negotiated numerous power purchase agreements.

How does this acquisition align with NV5’s growth strategy?

The acquisition positions NV5 to capitalize on the growing clean energy market, supporting their expansion in sustainable infrastructure services.