NV5 Acquires ASG Engineering Consultants, Enhances Building Technology Services in Middle East and Asia
April 03 2024 - 7:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of technology, conformity assessment,
and consulting solutions, announced today that it has acquired ASG
Engineering Consultants (“ASG”), a provider of structural
engineering, permitting, and compliance services in Dubai, United
Arab Emirates (UAE). ASG’s talented team of engineers, BIM
technicians, and technical professionals have delivered engineering
design and oversight services for premier education, hospitality,
stadium, and commercial structures throughout the Middle East,
particularly in Saudi Arabia and the UAE. The acquisition of ASG
takes advantage of the booming development in the region and serves
as a catalyst for additional organic growth, bringing NV5’s total
number of technical professionals in the Middle East to more than
150. The acquisition was made with a combination of cash and stock
and will be immediately accretive to NV5’s earnings.
“NV5’s international business has generated double-digit organic
growth by strategically targeting high-demand assets such as data
centers and mega projects in high-growth regions,” said Dickerson
Wright, PE, Executive Chairman of NV5. “ASG’s leadership team and
technical experts expand our capabilities and our ability to
contract work in the Middle East, and ASG’s expertise will be
extended to our Asia Pacific operations to create competitive
advantages across all of our international operations.”
NV5’s Buildings and Technology design group has a successful
history of teaming with ASG and will benefit from ASG’s structural
engineering capabilities. Furthermore, ASG’s Architect of Record
certification will allow NV5 to become the prime consultant on
design projects that would have been restricted in the past. NV5’s
full-service capabilities now include MEP, technology, and
structural engineering, and these uniquely comprehensive design
solutions will provide a competitive advantage when pursuing
projects throughout the Middle East and Asia Pacific, including
data center projects.
“Having worked with NV5 for many years, we are excited to join
the NV5 team and look forward to the expanded scope of services we
can now offer to our clients,” said Derek Astbury, Managing
Director of ASG Engineering Consultants.
About ASG Engineering ConsultantsSince 2008,
ASG has provided structural engineering and architect of record
services for some of the most influential facilities throughout the
Middle East and in the United Kingdom. In addition to structural
engineering design, ASG’s team of experienced resident and
structural engineers take site roles for the duration of a project,
from verification and submission of all related consultants designs
to issuance of building completion certificates. For additional
information, please visit www.asgconsultants.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
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