NV5 Acquires PES Environmental, Enhances Environmental Sustainability Capabilities
The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5\xe2\x80\x99s earnings.\nFounded in 1989, PES Environmental\xe2\x80\x99s 56 engineers and environmental scientists help public and private sector clients meet their environmental compliance, permitting, and sustainability goals.
HOLLYWOOD, Fla., May 17, 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 acquired PES Environmental, Inc. (“PES Environmental”), an environmental engineering and consulting company providing environmental site assessment, water resources and stormwater management, permitting and compliance, industrial hygiene, and litigation support services. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
Founded in 1989, PES Environmental’s 56 engineers and environmental scientists help public and private sector clients meet their environmental compliance, permitting, and sustainability goals. PES Environmental’s extensive track record with water resources, ground water, and storm water management projects will offer immediate support to NV5’s infrastructure services as well as the energy and testing and inspection business lines.
“We have actively expanded NV5’s nationwide capabilities in recent years to support our clients’ environmental and sustainability initiatives, including sustainable infrastructure, clean energy, energy efficiency, environmental compliance, and water and natural resource management,“ said Dickerson Wright, PE, Chairman and CEO of NV5. “PES Environmental’s strong management team, regulatory expertise, and robust client portfolio make it a good fit for the continued expansion of our environmental platform.”
“PES Environmental will support our comprehensive suite of offerings with additional technical capabilities in high-margin services that we may have otherwise subcontracted,” said Lisa Kay, Chief Operation Officer of NV5’s Environmental Health Sciences.
“We are excited to join NV5 and its growing Environmental Health Sciences vertical as it provides expanded service offerings for our clients and vast new career opportunities for our valued employees,” said Daniel Balbiani, PE, President of PES Environmental.
About PES Environmental
PES Environmental, Inc. is a multi-disciplinary environmental engineering and consulting firm. For over 30 years, PES Environmental’s experienced environmental engineers, geologists, hydrogeologists, and consultants have helped public and private sector clients achieve regulatory compliance and meet their environmental and sustainability goals.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a 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 engineering, 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: [email protected]
Source: NV5 Global, Inc.
