NV5 Global Inc (NASDAQ:NVEE) has acquired Fulton Consulting Engineers, a provider of mechanical, electrical, plumbing (MEP) design and energy efficiency services. Deal terms were not disclosed.
- This acquisition strengthens NV5's MEP and technology engineering design and energy efficiency capabilities in California and the Southwest and also introduces NV5 to new markets and clients.
- NV5 expects the acquisition to be immediately accretive to its earnings.
- "The acquisition of Fulton Consulting Engineers supports NV5's strategic approach to acquisitions by both strengthening our verticals and expanding our high-margin ESG and technology services, and we look forward to the contributions that Fulton will make to our continued growth," said Chairman & CEO Dickerson Wright.
- NV5 held cash and equivalents of $47.98 million as of January 1, 2022.
- Price Action: NVEE shares are trading lower by 4.63% at $122.36 on the last check Tuesday.
