NV5 to Acquire Optimal Energy, Expanding Energy Efficiency Consulting Capabilities
December 30 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 is
expected to acquire Optimal Energy, Inc. (Optimal) with a close
date before December 31st. Optimal is an energy efficiency firm
providing a full range of consulting services to government
agencies, utilities, regulatory bodies, and state energy advisory
councils. Optimal specializes in advising state energy efficiency
advisory councils on program planning, cost-benefit analysis, and
strategic guidance. The Company also assists utilities with
integrating statewide and local energy efficiency mandates into
their business models. The acquisition will be made with a
combination of cash and stock and will be immediately accretive to
NV5’s earnings.
“NV5’s energy efficiency and clean energy business has driven
strong organic growth, and Optimal is the fourth acquisition we
have made in the sector,” said Dickerson Wright, PE, Chairman and
CEO of NV5. “As energy efficiency continues to grow in importance
in the government and utility markets, Optimal provides us with
another specialized, high barrier to entry capability to
differentiate NV5 and deliver value to our clients.”
With offices in Vermont and Rhode Island, Optimal has worked in
nearly 40 U.S. states and seven Canadian provinces. Optimal was
founded in 1996 and is a consultant for nine of the top ten states
with utility and public purpose efficiency programs.
“NV5’s energy efficiency services for our federal government and
private sector clients have grown rapidly in recent years, and we
are excited to add these capabilities for state governments and
utility clients,” said Ben Heraud, COO of Energy Efficiency and
Decarbonization at NV5.
“We are really excited about joining NV5 and expanding the scope
and scale of technical resources available to our clients, and we
look forward to the integration of our capabilities with the
existing energy efficiency group within NV5,” said Eric Belliveau,
Partner at Optimal Energy.
About Optimal Energy Optimal Energy, Inc. is an
energy consultancy focused on energy‐efficiency, demand management,
and renewable energy as integrated resources for utilities, state
agencies, and other energy efficiency program administrators.
Optimal specializes in assessing, developing, planning, startup,
and management support for energy‐efficiency programs. Founded in
1996, Optimal’s clientele includes utilities, consumer and
environmental advocates, government and regulatory agencies, and
energy service providers.
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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