NV5 Announces $15 Million in Infrastructure Improvement Contracts

Rhea-AI Summary

Nv5 Global, Inc. (NASDAQ: NVEE) has secured approximately $15 million in civil program management and design contracts from California cities and counties.

These contracts will support transportation and water infrastructure improvements, including significant projects like airport upgrades in San Diego and sewer improvements in Central Valley cities.

NV5's extensive expertise solidifies its position as a leader in engineering consulting and showcases its robust engagement with municipal clients.

Positive

• Awarded approximately $15 million in contracts for transportation and water infrastructure improvements.
• Strengthened position in municipal consulting, enhancing long-term client relationships.
• Diverse project portfolio includes significant airport and sewer improvement projects.

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• None.

HOLLYWOOD, Fla., Jan. 13, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that it has been awarded approximately $15 million in civil program management and design contracts by California cities and counties to support transportation and water infrastructure improvements and municipal capital improvement programs.

“NV5’s technical expertise in infrastructure design, inspection, and construction management makes us uniquely qualified to assist in the delivery of water and transportation projects,” said Dickerson Wright, PE, Chairman & CEO of NV5. “We are proud of the reputation that we have established as leaders in providing program management and engineering services to deliver safe and reliable infrastructure for our clients and the communities that they serve.”

NV5 was selected for three contracts to provide project management and owner’s representative services to support airport improvements in the County of San Diego, the Oakhurst Midtown Connector roadway project in the County of Madera, and sewer improvements for a large city in the Central Valley. NV5 was also awarded multi-year project management and staff augmentation contracts by a large southern California municipality, as well as by the City of El Monte, and by Kern County, to provide project management, owner’s representative services, inspection services, and additional support on capital improvement projects throughout their jurisdictions.  

“These awards are a testament to the diverse technical expertise and unique value that we offer to our municipal government clients, and we appreciate the trust they place in us to deliver successful projects,” said Todd George, PE, COO Infrastructure West at NV5.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of compliance, technology, and engineering consulting solutions for public and private sector clients supporting infrastructure, utility, and building assets and systems. The Company primarily focuses on six business verticals: testing, inspection & consulting, infrastructure support services, utility services, buildings & program management, environmental health sciences, and geospatial technology 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.

FAQ

What contracts did NV5 Global secure in January 2021?

NV5 Global was awarded approximately $15 million in contracts for civil program management and design to improve transportation and water infrastructure.

What specific projects are involved in NV5's recent contracts?

The contracts include airport improvements in San Diego, road projects in Madera, and sewer improvements for a large Central Valley city.

How does NV5's recent contract win affect its market position?

These contracts enhance NV5's reputation and capabilities in municipal engineering consulting, potentially attracting more clients.

What is the significance of the $15 million awarded to NV5?

The $15 million financial award underscores NV5's growing role in supporting crucial infrastructure improvements in California.