NV5 Acquires Industrial Design Associates International, Strengthening International Commissioning and Engineering Design Cap...
January 12 2021 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of compliance, technology, and
engineering consulting solutions, announced today that it has
reached an agreement to acquire Industrial Design Associates
International (“IDA”), an international engineering services
consulting company. IDA provides building commissioning and MEP
design services to clients throughout Asia and Europe. IDA’s 85
employees operate out of seven offices in Hong Kong, China,
Singapore, and India and specialize in the financial services, data
center, and technology markets.
Dickerson Wright, PE, Chairman and CEO of NV5, said, “The
addition of IDA will expand our international MEP design, building
commissioning, and subscription-based energy services
revenue. IDA’s client base includes a number of large
international financial and technology companies, and its
specialized expertise in the data center and technology markets
offers an opportunity for continued expansion in these high-margin,
high-growth sectors.”
IDA has performed engineering design, commissioning, and due
diligence services on a variety of large-scale international
projects including hyperscale data centers with more than 500
megawatts of power capacity throughout Europe, the Middle East, and
Asia and commercial interiors for the world’s largest financial
services and technology companies. “We are excited to join NV5 and
look forward to the expanded technical capabilities and solutions
that we can now offer to our clients,” said Brian Paul, Managing
Director at Industrial Design Associates International. “NV5’s MEP
and technology design and energy efficiency solutions, combined
with IDA’s engineering and commissioning capabilities, provide a
growth opportunity for our existing clients and a unique value
proposition for new client pursuits.”
“NV5 strives to support our clients throughout the lifecycle of
their assets, and IDA’s services further strengthen this value
proposition. NV5’s building analytics offering will complement
IDA’s commissioning service and provide opportunities to further
grow our existing subscription-based revenue internationally,” said
Gary Hui, PE, Vice President of NV5 Energy Efficiency
Services.
About Industrial Design Associates
InternationalFounded in 2003, Industrial Design Associates
International is a building services consulting company providing
building commissioning, MEP design, due diligence, and specialty
consulting services for commercial and industrial facilities and
data centers across Asia and Europe. From its headquarters in Hong
Kong and six field offices, IDA’s experienced professionals have
delivered engineering design and commissioning services on over 300
complex projects in 18 countries.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
leading 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 support
services, 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 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 ContactNV5 Global, Inc. Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
Source: NV5 Global, Inc.
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