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NV5 bolsters engineering services with Fluhrer Reed acquisition

EditorEmilio Ghigini
Published 03/14/2024, 08:28 PM
© Reuters.
NVEE
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HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, has announced the acquisition of Fluhrer Reed, a North Carolina-based structural engineering firm. The transaction, which includes a mix of cash and stock, is set to immediately contribute to NV5's earnings.

Fluhrer Reed, established in 1999, specializes in structural and forensics engineering services, particularly for educational, life sciences, industrial, and multifamily residential buildings. The firm is noted for using advanced building information modeling and analytical software to develop structurally sound solutions.

This acquisition is expected to enhance NV5's existing structural engineering capabilities and provide additional resources for its growing forensics engineering business.

Dickerson Wright, PE, Executive Chairman of NV5, highlighted that the addition of Fluhrer Reed's (OTC:REED) engineers and leadership team will expand the company's high-margin service offerings and strengthen its position for accelerated organic growth. Banning Reed, Principal of Fluhrer Reed, expressed enthusiasm about joining NV5 and the new opportunities the acquisition will present for their clients and employees.

NV5 has established itself as a leader in forensics engineering and structural services in the Southeast through both organic growth and strategic acquisitions. The integration of Fluhrer Reed's services is anticipated to complement NV5's existing mechanical, electrical, plumbing, and technology design offerings for facility renovations and new construction projects.

This strategic move aligns with NV5's focus on providing sustainable infrastructure, utility, and building assets and systems solutions across various sectors, including construction quality assurance, infrastructure engineering, utility services, buildings & program management, environmental health sciences, and geospatial technology services.

The financial terms of the deal were not disclosed. The information provided is based on a press release statement from NV5 Global, Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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