NV5 Acquires Global Realty Services Group, Expands Market Leadership Position in Real Estate Transaction Services
December 23 2021 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of compliance, technology, engineering,
and environmental consulting solutions, announced today that it has
acquired Global Realty Services Group LLC (GRS), a leader in real
estate due diligence and transaction services providing property
condition assessments, environmental assessments, and zoning
services for real estate portfolio transactions. GRS is one of the
fastest growing providers of due diligence services and serves
commercial mortgage lenders, government-sponsored enterprise
agencies, insurance companies, real estate investment trusts, and
loan originators. NV5 acquired GRS in an all-cash transaction, and
it will be immediately accretive to NV5’s earnings.
“The addition of GRS to our existing real estate transaction
services makes us the preeminent provider in the high-growth,
high-margin real estate due diligence market,” said Dickerson
Wright, PE, Chairman & CEO of NV5. “Our real estate transaction
business has generated double digit growth in 2021, and the
addition of GRS’s 154 full-time equivalent personnel, premiere
client list, and attractive end markets will help to drive
additional growth in this highly-profitable sector.”
GRS has completed over 10,000 projects across North America and
utilizes a proprietary web-based data management system called
G-NET which facilitates resource deployment, project management,
and productivity reporting. The G-NET system allows GRS to deliver
quicker response times for client needs with improved efficiency
and profitability.
“We are excited to join the NV5 team and look forward to the
competitive advantage resulting from our combined technical
resources and expanded network and the opportunities that this
transaction will create for our clients and our employees,” said
Noreen Clindinning, President of GRS.
About Global Realty Services GroupFounded in
2009, GRS delivers real estate due diligence services for
commercial and industrial real estate transactions and operates out
of offices in Chicago, IL and Irvine, CA. GRS’s network of highly
qualified field professionals, surveyors, architects, and engineers
utilize proprietary technology and processes to deliver
environmental assessments, surveys, property condition assessments,
and zoning services to support real estate transactions throughout
the U.S. and in 22 international countries.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of compliance, technology, engineering, and environmental
consulting solutions for public and private sector clients
supporting sustainable infrastructure, utility, and building assets
and systems. The Company focuses on multiple verticals: testing,
inspection & consulting, infrastructure, 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 ContactNV5 Global, Inc.Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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