NV5 Reaches Agreement to Acquire California Water Resources Group from Weston Solutions, Strengthening Water and Wastewater Capabilities
NV5 Global, Inc. (Nasdaq: NVEE) has announced a definitive agreement to acquire Weston Solutions' California Water Resources Group. This cash transaction, expected to be immediately accretive to NV5's earnings, will strengthen the company's water infrastructure design and hydrospatial businesses. The acquisition targets a group of approximately 20 employees based in Carlsbad, CA, specializing in mandated environmental regulatory compliance services for ports, waterways, watersheds, and aquatic environments.
The deal is set to expand NV5's water resources capabilities and provide access to new clients and contracting opportunities. NV5 anticipates recognizing revenue from this acquisition by the late third quarter of 2024. This strategic move aligns with the growing demand for compliance services in the water industry, driven by infrastructure expansion and stringent regulatory requirements.
NV5 Global, Inc. (Nasdaq: NVEE) ha annunciato un accordo definitivo per acquisire il California Water Resources Group di Weston Solutions. Questa transazione in contante, prevista per essere immediatamente accrescitiva per gli utili di NV5, rafforzerà le capacità di progettazione delle infrastrutture idriche e le attività idrospaziali dell'azienda. L'acquisizione coinvolge un gruppo di circa 20 dipendenti situati a Carlsbad, CA, specializzati in servizi di conformità normativa ambientale obbligatoria per porti, corsi d'acqua, bacini idrografici e ambienti acquatici.
L'accordo mira ad ampliare le capacità di risorse idriche di NV5 e a fornire accesso a nuovi clienti e opportunità di contratti. NV5 prevede di riconoscere ricavi da questa acquisizione entro la fine del terzo trimestre del 2024. Questa mossa strategica è in linea con la crescente domanda di servizi di conformità nell'industria idrica, spinta dall'espansione delle infrastrutture e dai requisiti normativi rigorosi.
NV5 Global, Inc. (Nasdaq: NVEE) ha anunciado un acuerdo definitivo para adquirir el California Water Resources Group de Weston Solutions. Esta transacción en efectivo, que se espera sea inmediatamente accrescedora para las ganancias de NV5, fortalecerá el diseño de infraestructuras hídricas y los negocios hidroespaciales de la empresa. La adquisición apunta a un grupo de aproximadamente 20 empleados con sede en Carlsbad, CA, especializados en servicios de cumplimiento normativo ambiental obligatorios para puertos, vías fluviales, cuencas y entornos acuáticos.
El acuerdo está diseñado para expandir las capacidades de recursos hídricos de NV5 y proporcionar acceso a nuevos clientes y oportunidades de contratación. NV5 anticipa reconocer ingresos de esta adquisición para finales del tercer trimestre de 2024. Este movimiento estratégico está alineado con la creciente demanda de servicios de cumplimiento en la industria del agua, impulsada por la expansión de infraestructuras y estrictos requisitos regulatorios.
NV5 Global, Inc. (Nasdaq: NVEE)는 Weston Solutions의 캘리포니아 수자원 그룹을 인수하기 위한 최종 계약을 발표했습니다. 이 현금 거래는 NV5의 수익에 즉시 긍정적인 영향을 미칠 것으로 예상되며, 회사의 수자원 인프라 설계 및 하이드로스페이셜 비즈니스를 강화할 것입니다. 인수 대상은 캘리포니아주 칼즈배드에 위치한 약 20명의 직원으로, 항구, 수로, 유역 및 수생 환경을 위한 의무 환경 규제 준수 서비스를 전문으로 합니다.
이 거래는 NV5의 수자원 능력을 확장하고 새로운 고객 및 계약 기회를 제공할 것입니다. NV5는 이 인수로부터 2024년 3분기 말까지 수익을 인식할 것으로 예상합니다. 이 전략적 움직임은 인프라 확장과 엄격한 규제 요건에 의해 촉진되는 수자원 산업에서의 준수 서비스 증가에 부합합니다.
NV5 Global, Inc. (Nasdaq: NVEE) a annoncé un accord définitif pour acquérir le California Water Resources Group de Weston Solutions. Cette transaction en espèces, qui devrait immédiatement accroître les bénéfices de NV5, renforcera les activités de conception d'infrastructures hydrauliques et d'hydrospatial de l'entreprise. L'acquisition concerne un groupe d'environ 20 employés basés à Carlsbad, CA, spécialisés dans les services de conformité réglementaire environnementale obligatoires pour les ports, les voies navigables, les bassins versants et les environnements aquatiques.
L'accord vise à élargir les capacités de ressources en eau de NV5 et à fournir un accès à de nouveaux clients et des opportunités de contrat. NV5 prévoit de reconnaître des revenus de cette acquisition d'ici la fin du troisième trimestre 2024. Ce mouvement stratégique est en accord avec la demande croissante de services de conformité dans l'industrie de l'eau, alimentée par l'expansion des infrastructures et des exigences réglementaires strictes.
NV5 Global, Inc. (Nasdaq: NVEE) hat eine endgültige Vereinbarung zur Übernahme der California Water Resources Group von Weston Solutions bekannt gegeben. Diese Bartransaktion, die voraussichtlich sofort positiv auf die Gewinne von NV5 wirkt, wird die Fähigkeiten des Unternehmens im Bereich der Wasserinfrastrukturplanung und der hydrospatialen Geschäfte stärken. Die Übernahme zielt auf eine Gruppe von etwa 20 Mitarbeitern, die in Carlsbad, CA, ansässig sind und sich auf vorgeschriebene Umweltregulierungsdienstleistungen für Häfen, Gewässer, Wassereinzugsgebiete und aquatische Umgebungen spezialisiert haben.
Das Geschäft soll die Wasserressourcenfähigkeiten von NV5 erweitern und Zugang zu neuen Kunden und Vertragsmöglichkeiten bieten. NV5 rechnet damit, ab Ende des dritten Quartals 2024 Einnahmen aus dieser Akquisition zu erzielen. Dieser strategische Schritt steht im Einklang mit der wachsenden Nachfrage nach Compliance-Dienstleistungen in der Wasserindustrie, die durch den Ausbau der Infrastruktur und strenge regulatorische Anforderungen vorangetrieben wird.
- Immediate accretion to NV5's earnings
- Expansion of water resources capabilities and client base
- Alignment with growing demand for water compliance services
- Strengthening of existing water infrastructure and hydrospatial businesses
- None.
Insights
The acquisition of Weston Solutions' California Water Resources Group by NV5 Global is a strategic move that strengthens NV5's position in the water infrastructure sector. With
The deal is immediately accretive to NV5's earnings, which is positive for shareholders. The cash transaction suggests a strong financial position, allowing for inorganic growth without diluting equity. The timing of revenue recognition by late Q3 2024 indicates a quick integration process.
This acquisition aligns with the growing demand for water-related services, driven by infrastructure expansion and stricter regulations. It positions NV5 to capitalize on this trend, potentially leading to increased market share and revenue growth in the water resources segment.
The acquisition of the California Water Resources Group significantly enhances NV5's capabilities in environmental regulatory compliance services for aquatic environments. This is important as regulatory requirements in the water industry become increasingly stringent.
The group's expertise in ports, waterways and watersheds complements NV5's existing services, allowing for a more comprehensive offering. This could lead to cross-selling opportunities and the ability to bid on larger, more complex projects.
With municipalities and government agencies as primary clients, this acquisition provides NV5 with stable, long-term contracts in the public sector. This diversification can help buffer against economic fluctuations and provide a steady revenue stream.
The water resources market is experiencing rapid growth, driven by aging infrastructure, climate change concerns and stricter environmental regulations. NV5's acquisition positions them to capitalize on this expanding market opportunity.
The addition of 20 employees with specialized expertise not only expands NV5's capabilities but also brings valuable client relationships and contracting opportunities. This could lead to a snowball effect in terms of market penetration and revenue growth in the water sector.
The focus on mandated environmental services suggests a recession-resistant revenue stream, as these services are required regardless of economic conditions. This acquisition could potentially improve NV5's overall business stability and make it more attractive to risk-averse investors.
HOLLYWOOD, Fla., Aug. 27, 2024 (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 reached a definitive agreement to acquire Weston Solutions’ California Water Resources Group. Located in Carlsbad, CA, the Water Resources Group’s approximately 20 employees provide mandated environmental regulatory compliance services related to ports, waterways, watersheds, and other aquatic environments for municipalities and other government agencies.
The Water Resources Group will strengthen NV5’s existing water infrastructure design and hydrospatial businesses, expanding NV5’s water resources capabilities and bringing access to new clients and contracting opportunities. The acquisition will be a cash transaction and will be immediately accretive to NV5’s earnings. NV5 expects to recognize the revenue from this acquisition by the late third quarter of 2024.
“Water resources is a growing part of NV5’s business, with NV5 delivering engineering design, environmental compliance, surveying, and geospatial services for water delivery, wastewater, stormwater, coastal resilience, and marine infrastructure,” said Dickerson Wright, PE, Executive Chairman at NV5. “Demand for compliance services in the water industry is growing rapidly due to expansion of the nation’s water infrastructure and stringent regulatory requirements, and the acquisition of the California Water Resources group will assist us in meeting the growing demand for these services.”
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: construction quality assurance, 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.
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Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com
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