NV5 Acquires River City Testing, Strengthens Materials Testing and Inspection Services in Southern California
March 02 2022 - 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 River City Testing, Inc. (RCT), a provider of materials
testing and special inspection services primarily focused on public
education facilities in Southern California’s Inland Empire Region
through an asset purchase. The addition of RCT strengthens NV5’s
testing, inspection, and consulting capabilities in the region and
gives NV5 a materials testing laboratory to support NV5’s
engineering operations in Riverside County and San Bernardino
County. NV5 acquired RCT in an all-cash transaction,
and it will be immediately accretive to NV5’s earnings.
“The Inland Empire is one of the most populous
regions in California with approximately four million residents,
and NV5’s presence in the region has expanded in recent years,”
said Dickerson Wright, PE, Chairman & CEO of NV5. “The addition
of RCT broadens our footprint in Southern California and expands
our service capabilities throughout the region.”
“We are pleased to add River City Testing’s materials testing
and inspection capabilities and its talented team of inspectors and
technicians as we continue to grow our position in the Inland
Empire and surrounding communities,” said Guillaume Gau, COO of
Testing, Inspection, and Consulting at NV5.
About River City TestingFounded in 2007, River
City Testing is a provider of materials testing and special
inspection services that specializes in the analysis of structural
steel, concrete, and other building materials used in civil
infrastructure and public sector facilities. River City Testing
operates out of its materials testing laboratory in Riverside,
California and specializes in testing and inspection for school
board facilities in the Inland Empire Region.
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
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Jul 2024 to Jul 2024
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Jul 2023 to Jul 2024