HOLLYWOOD, Fla., Jan. 16, 2018 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq:NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired Butsko Utility Design, Inc. (“Butsko”), a leading provider of utility planning and design services. With annual revenues exceeding $5 million, Butsko serves both public and private sector clients through its offices in Southern California and Washington. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“NV5’s electrical and gas power group has shown exponential growth over the past two years,” said Dickerson Wright, Chairman and CEO of NV5. “The acquisition of Butsko will provide additional leadership and technical resources to fuel our continued growth in meeting the increased demands for additional services by our clients. The acquisition is conducive to NV5’s strategy of growing a national platform serving utility companies and the building industry.”
“This is a significant and strategic opportunity for both our clients and our employees,” said Gregg Butsko, President of Butsko. “Our clients will have access to a broader service base allowing us to take on even larger and higher profile projects. Butsko and NV5 have a proven history of working together and we are excited about the synergy our combined firm will bring to our clients and industry in the future.”
Since 1994, Butsko has served clients in a variety of sectors, including master planned communities, commercial and industrial, shopping centers, corporate and commercial centers, academics, hospitality, government and state municipalities and agencies. Recent large-scale California projects include Playa Vista, a Los Angeles Master Planned Community, Mid Coast Light Rail, The San Diego Bayfront Master Plan, Victoria Gardens in Rancho Cucamonga, Southern California Logistics Airport, and Victorville Municipal Utility Services.
NV5 Global, Inc. (NASDAQ:NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This 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.
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Source: NV5 Global, Inc.
Source:NV5 Global, Inc.