NV5 Acquires Southport Engineering Associates to Enhance Energy Efficiency Services
Deal News | Dec 09, 2024 | Globenewswire
NV5, a provider of technology, certification, and consulting solutions, announced the acquisition of Southport Engineering Associates on December 9, 2024. Southport Engineering, founded in 1996 and headquartered in Ridgefield, Connecticut, provides turnkey energy efficiency, engineering design, and owner representation consulting services in New York City. This acquisition, completed on December 4, 2024, was made using a blend of cash and stock and is expected to immediately contribute to NV5's earnings. The move aligns with NV5's strategic growth in its buildings and technology platform, allowing increased cross-selling opportunities with Southport’s extensive client base. NV5 aims to leverage Southport's energy-focused designs and management expertise to accelerate growth, particularly in the Northeast. The acquisition strengthens NV5's market position through enhanced leadership and expanded service offerings.
Sectors
- Technology and Consulting
- Energy Efficiency
- Building and Construction Services
Geography
- United States – Both NV5 and Southport Engineering operate primarily within the United States, particularly in New York City and Ridgefield, Connecticut.
- New York City, USA – The acquired company, Southport Engineering, serves clients in New York City, a key market for the transaction.
Industry
- Technology and Consulting – NV5 operates within technology and consulting, providing solutions for utility, infrastructure, and building assets.
- Energy Efficiency – Southport Engineering specializes in energy efficiency engineering and consulting, making this industry relevant to the acquisition.
- Building and Construction Services – The services related to building systems engineering and commissioning are core to both NV5's and Southport Engineering's operations.
Financials
- Combination of cash and stock – The acquisition of Southport Engineering Associates was completed with a mix of cash and stock.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NV5 Global, Inc. | Bidding Company | Company | A technology, certification, and consulting solution provider specializing in a variety of sectors, including utility and infrastructure. |
| Southport Engineering Associates | Target Company | Company | A provider of energy efficiency and engineering design services headquartered in Ridgefield, Connecticut. |
| Dickerson Wright, PE | Executive Chairman of NV5 | Person | Executive Chairman of NV5, involved in the strategic direction and growth initiatives of the company. |
| Ben Heraud | CEO of NV5 | Person | CEO of NV5, responsible for implementing NV5's market differentiation strategy. |
| Michael Fabrizi, PE | President of Southport Engineering Associates | Person | President and key leader at Southport Engineering, guiding the company's integration with NV5. |