NV5 Acquires Southport Engineering Associates; Strengthens Energy Efficiency and Building Technology Solutions in New York City
NV5 has acquired Southport Engineering Associates on December 4, 2024, strengthening its energy efficiency and building technology solutions in New York City. Southport Engineering, founded in 1996, provides turnkey energy efficiency, engineering design, and owner representation consulting services to various sectors including hospitality, educational, healthcare, industrial, gaming, and financial.
The acquisition, completed through a combination of cash and stock, will be immediately accretive to NV5's earnings. Southport Engineering's unique approach includes comprehensive energy studies and efficiency solutions throughout project lifecycles, from engineering design to commissioning services. The merger aims to enhance cross-selling opportunities and expand NV5's presence in the Northeast region.
NV5 ha acquisito Southport Engineering Associates il 4 dicembre 2024, rafforzando le sue soluzioni di efficienza energetica e tecnologia edilizia a New York City. Southport Engineering, fondata nel 1996, offre servizi di consulenza chiavi in mano in efficienza energetica, progettazione ingegneristica e rappresentanza dei proprietari a diversi settori, tra cui ospitalità, istruzione, sanità, industriale, gioco d'azzardo e finanziario.
L'acquisizione, completata attraverso una combinazione di contante e azioni, avrà un effetto immediato sugli utili di NV5. L'approccio unico di Southport Engineering include studi energetici completi e soluzioni di efficienza lungo i cicli di vita dei progetti, dalla progettazione ingegneristica ai servizi di messa in servizio. La fusione mira a migliorare le opportunità di cross-selling e ad ampliare la presenza di NV5 nella regione del Nord-est.
NV5 ha adquirido Southport Engineering Associates el 4 de diciembre de 2024, fortaleciendo sus soluciones de eficiencia energética y tecnología de construcción en la ciudad de Nueva York. Southport Engineering, fundada en 1996, proporciona servicios de consultoría de eficiencia energética, diseño de ingeniería y representación de propietarios llave en mano a varios sectores, incluidos la hospitalidad, educación, atención médica, industrial, juegos y finanzas.
La adquisición, completada a través de una combinación de efectivo y acciones, será inmediatamente beneficiosa para las ganancias de NV5. El enfoque único de Southport Engineering incluye estudios energéticos integrales y soluciones de eficiencia a lo largo de los ciclos de vida de los proyectos, desde el diseño de ingeniería hasta los servicios de puesta en marcha. La fusión tiene como objetivo mejorar las oportunidades de venta cruzada y expandir la presencia de NV5 en la región noreste.
NV5는 2024년 12월 4일 Southport Engineering Associates를 인수하여 뉴욕시의 에너지 효율성과 건축 기술 솔루션을 강화했습니다. 1996년에 설립된 Southport Engineering은 다양한 부문에 걸쳐 에너지 효율성, 엔지니어링 설계 및 소유자 대리 컨설팅 서비스를 제공합니다. 이 부문에는 환대, 교육, 의료, 산업, 게임 및 금융이 포함됩니다.
현금과 주식의 조합으로 완료된 이번 인수는 NV5의 수익에 즉각적인 긍정적인 영향을 미칠 것입니다. Southport Engineering의 독특한 접근 방식은 엔지니어링 설계부터 커미셔닝 서비스까지 프로젝트 수명 주기 전반에 걸쳐 포괄적인 에너지 연구 및 효율성 솔루션을 포함합니다. 이번 합병은 교차 판매 기회를 향상하고 NV5의 북동부 지역 내 입지를 확장하는 것을 목표로 합니다.
NV5 a acquis Southport Engineering Associates le 4 décembre 2024, renforçant ainsi ses solutions en matière d'efficacité énergétique et de technologie du bâtiment à New York. Fondée en 1996, Southport Engineering propose des services de conseil complets en matière d'efficacité énergétique, de conception technique et de représentation des propriétaires pour divers secteurs, notamment l'hôtellerie, l'éducation, la santé, l'industrie, le jeu et la finance.
L'acquisition, réalisée par une combinaison de liquidités et d'actions, aura un impact immédiat sur les bénéfices d'NV5. L'approche unique de Southport Engineering comprend des études énergétiques complètes et des solutions d'efficacité tout au long des cycles de vie des projets, de la conception technique aux services de mise en service. La fusion vise à améliorer les opportunités de vente croisée et à renforcer la présence d'NV5 dans la région du Nord-Est.
NV5 hat am 4. Dezember 2024 Southport Engineering Associates akquiriert und damit seine Lösungen zur Energieeffizienz und Gebäudetechnologie in New York City gestärkt. Southport Engineering, 1996 gegründet, bietet schlüsselfertige Dienstleistungen in den Bereichen Energieeffizienz, Ingenieurauslegung und Eigentümervertretung für verschiedene Sektoren, darunter Gastgewerbe, Bildung, Gesundheitswesen, Industrie, Glücksspiel und Finanzwesen.
Die durch eine Kombination aus Bargeld und Aktien abgeschlossene Akquisition wird sofort positiv auf die Gewinne von NV5 wirken. Der einzigartige Ansatz von Southport Engineering umfasst umfassende Energieanalysen und Effizienzlösungen über den gesamten Lebenszyklus von Projekten hinweg, von der Ingenieurauslegung bis hin zu Inbetriebnahme-Services. Die Fusion zielt darauf ab, Cross-Selling-Möglichkeiten zu verbessern und die Präsenz von NV5 in der Nordostregion auszubauen.
- Immediate earnings accretion from the acquisition
- Expansion of service offerings in the Northeast market
- Enhanced cross-selling opportunities through combined portfolio
- Access to Southport's established client relationships in multiple sectors
- Integration of complementary tech-enabled solutions
- None.
Insights
HOLLYWOOD, Fla., Dec. 09, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it completed the acquisition of Southport Engineering Associates, a provider of turnkey energy efficiency, engineering design, and owner representation consulting on December 4, 2024. Founded in 1996, Southport Engineering serves clients in New York City and the surrounding area to meet regulatory and owner-imposed efficiency standards for facilities in the hospitality, educational, healthcare, industrial, gaming, and financial sectors. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“NV5 is pleased to welcome Southport Engineering to our buildings and technology platform with its tech-enabled solutions and energy-focused designs to assist building owners with meeting stringent standards for facility efficiency and occupant comfort,” said Dickerson Wright, PE, Executive Chairman of NV5. “Southport Engineering’s impressive management team provides enhanced leadership to continue our expansion in the Northeast and will contribute to accelerated organic growth and profitability above the industry standard throughout our domestic and international buildings and technology platform.”
Southport Engineering’s full menu of services is unique to the industry, providing wholistic building efficiency solutions that generate higher profitability and increased project replication with their clients. By initiating projects with comprehensive energy studies, efficiency is incorporated throughout the project from engineering design, to commissioning and owner representation services. Southport Engineering’s long-term direct client relationships provide accelerated opportunities for cross-selling NV5’s building digitization and technology services.
“NV5’s organic growth in buildings and technology has been driven by comprehensive, tech-enabled services that differentiate NV5 in the market and enables us to partner within our clients’ organizations,” said Ben Heraud, CEO of NV5. “Southport Engineering’s similar approach fits well within NV5, and we look forward to the enhanced cross-selling opportunities that will come through our combined organization.”
“We are excited to join the NV5 team, and we have already begun collaborating with our NV5 team members to deliver our combined portfolio of services to our long-term client partners,” said Michael Fabrizi, PE, President of Southport Engineering Associates.
About Southport Engineering Associates
Headquartered in Ridgefield, Connecticut, Southport Engineering’s 20 employees provide building systems engineering design, commissioning, and owner representation for building owners, asset managers, and developers. Southport Engineering stands out for its efficient engineering designs, technologically appropriate solutions, and compatibility with investment parameters for facilities and assets. For additional information, please visit www.southporteng.com.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. 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 Twitter, LinkedIn, Facebook, and Vimeo.
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
Source: NV5 Global, Inc.
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