NV5 Acquires Fluhrer Reed, Strengthens Engineering Services in North Carolina’s Research Triangle
14 März 2024 - 1:00PM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of technology, conformity assessment,
and consulting solutions, announced today that it has acquired
Fluhrer Reed, a provider of structural engineering and forensics
engineering services in the Research Triangle of North Carolina,
one of the nation’s fastest growing markets. Founded in 1999,
Fluhrer Reed engineers utilize the latest building information
modeling and analytic software to deliver creative, practical, and
structurally sound solutions for educational, life sciences,
industrial, and multifamily residential buildings.
The acquisition strengthens NV5’s existing structural
engineering group and provides additional expert witness resources
to support NV5’s growing forensics engineering business.
Additionally, Fluhrer Reed’s services strategically complement
NV5’s mechanical, electrical, plumbing, and technology design
offerings for facility renovations and new construction. The
acquisition was made with a combination of cash and stock and will
be immediately accretive to NV5’s earnings.
“NV5 has become a leader in forensics engineering and structural
services in the Southeast, and we have built these key growth areas
through strong organic growth and acquisitions,” said Dickerson
Wright, PE, Executive Chairman of NV5. “Fluhrer Reed’s talented
engineers and leadership team will expand our offerings in these
high-margin service areas and strengthen our position for
accelerated organic growth.”
“We are excited to join the NV5 team and look forward to the
opportunities that this transaction will create for our clients and
our employees,” said Banning Reed, Principal of Fluhrer Reed.
About Fluhrer ReedFluhrer Reed is a structural
engineering firm offering comprehensive structural design for
industrial, commercial, and multifamily residential spaces. For
over 25 years, Fluhrer Reed engineers have supported structures
through every phase of design, striving to achieve a product that
is cost-effective, aesthetically pleasing, and structurally sound.
For additional information, please visit www.fluhrerreed.com.
About NV5NV5 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 StatementsThis 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 CochranVice President, Marketing &
Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
Von Mai 2023 bis Mai 2024