NV5 Acquires Geodynamics, Expanding Deep-Water Geospatial Capabilities
March 29 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 acquired Geodynamics LLC
(“Geodynamics”), a provider of sonar-based, deep-water geospatial
solutions. Geodynamics’ clients include the National Oceanic and
Atmospheric Administration (NOAA), the U.S. Army Corps of
Engineers, the U.S. Navy, state and local agencies, and port and
transportation authorities.
Geodynamics, headquartered in Morehead City, North
Carolina, will operate within NV5’s Geospatial vertical, adding
full-ocean depth hydrographic and geophysical surveying to NV5’s
topographic and nearshore geospatial capabilities. The $42 million
acquisition, which includes an earn out provision, was made with a
combination of cash and stock and will be immediately accretive to
NV5’s earnings.
“As the nation’s premiere provider of geospatial
data solutions, we continue to pursue opportunities to expand our
leading position in the geospatial market,” said Dickerson Wright,
PE, Chairman and CEO of NV5. “The addition of Geodynamics gives NV5
an established presence in the oceanic geospatial sector to support
projects related to offshore wind power, sea level rise, shoreline
mapping, underwater habitat modeling, and nautical charting.”
“Geodynamics’ sonar-based geospatial capabilities,
coupled with NV5’s existing nearshore and shallow-water riverine
geospatial offerings, expands NV5 Geospatial’s marine solutions
strategy and provides us with a competitive advantage for
multi-solution, hydrographic surveying projects,” said Mark Abatto,
President and COO of NV5 Geospatial.
“All of us at Geodynamics are excited about the
expanded service offerings we can now provide our clients and
growth opportunities available to our employees as a part of the
NV5 organization,” said Sloan Freeman, PLS, Chief Executive Officer
of Geodynamics.
About GeodynamicsFounded in 2001,
Geodynamics LLC is a marine geology and coastal science consulting
firm specializing in bathymetric and geophysical mapping,
monitoring, and geospatial analyses. Using cutting-edge
technologies and highly qualified staff, Geodynamics provides
meticulous data products to support clients’ multi-disciplinary
needs.
About NV5NV5 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 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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