HOLLYWOOD, Fla., March 14, 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 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 Reed
Fluhrer 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 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
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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
