HOLLYWOOD, Fla., April 03, 2024 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the Company or NV5) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has acquired ASG Engineering Consultants (ASG), a provider of structural engineering, permitting, and compliance services in Dubai, United Arab Emirates (UAE). ASG's talented team of engineers, BIM technicians, and technical professionals have delivered engineering design and oversight services for premier education, hospitality, stadium, and commercial structures throughout the Middle East, particularly in Saudi Arabia and the UAE. The acquisition of ASG takes advantage of the booming development in the region and serves as a catalyst for additional organic growth, bringing NV5's total number of technical professionals in the Middle East to more than 150. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.
NV5's international business has generated double-digit organic growth by strategically targeting high-demand assets such as data centers and mega projects in high-growth regions, said Dickerson Wright, PE, Executive Chairman of NV5. ASG's leadership team and technical experts expand our capabilities and our ability to contract work in the Middle East, and ASG's expertise will be extended to our Asia Pacific operations to create competitive advantages across all of our international operations.
NV5's Buildings and Technology design group has a successful history of teaming with ASG and will benefit from ASG's structural engineering capabilities. Furthermore, ASG's Architect of Record certification will allow NV5 to become the prime consultant on design projects that would have been restricted in the past. NV5's full-service capabilities now include MEP, technology, and structural engineering, and these uniquely comprehensive design solutions will provide a competitive advantage when pursuing projects throughout the Middle East and Asia Pacific, including data center projects.
Having worked with NV5 for many years, we are excited to join the NV5 team and look forward to the expanded scope of services we can now offer to our clients, said Derek Astbury, Managing Director of ASG Engineering Consultants.
About ASG Engineering ConsultantsSince 2008, ASG has provided structural engineering and architect of record services for some of the most influential facilities throughout the Middle East and in the United Kingdom. In addition to structural engineering design, ASG's team of experienced resident and structural engineers take site roles for the duration of a project, from verification and submission of all related consultants designs to issuance of building completion certificates. For additional information, please visit www.asgconsultants.com.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: construction quality assurance, infrastructure engineering, 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 Contact
NV5 Global, Inc.Jack CochranVice President, Marketing & Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com
Source: NV5 Global, Inc.
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