HOLLYWOOD, Fla., Aug. 27, 2024 (GLOBE NEWSWIRE) — NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE)a provider of technology, compliance assessment and consulting solutions, today announced that it has entered into a definitive agreement to acquire California Water Resources Group from Weston Solutions. Based in Carlsbad, California, Water Resources Group employs approximately 20 people and provides environmental regulatory compliance services to municipalities and other government agencies related to ports, waterways, watersheds and other aquatic environments.

The Water Resources Group will strengthen NV5’s existing water infrastructure planning and water engineering businesses, expand NV5’s water resources capabilities, and provide access to new customers and contract opportunities. The acquisition will be an all-cash transaction and will be immediately accretive to NV5’s earnings. NV5 expects to recognize revenue from this acquisition by the end of the third quarter of 2024.

“Water resources are a growing part of NV5’s business. NV5 provides engineering, environmental assessment, surveying and geospatial services for water supplies, wastewater, stormwater, coastal resilience and marine infrastructure,” said Dickerson Wright, PE, Executive Chairman at NV5. “Demand for compliance services in the water industry is growing rapidly due to the expansion of the country’s water infrastructure and stringent regulatory requirements, and the acquisition of California Water Resources Group will help us meet the growing demand for these services.”

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, compliance assessment and consulting solutions to public and private sector clients supporting sustainable infrastructure, utilities, and building assets and systems. The company focuses on several verticals: construction quality assurance, infrastructure engineering, utilities, building and program management, environmental health sciences and geospatial technology services to deliver innovative, sustainable solutions to complex problems and improve lives in our communities. NV5 has more than 100 offices domestically and internationally. For more information, visit the company’s website at www.NV5.com. Also visit the company on LinkedIn, Twitter, Facebook and Instagram.

Forward-looking statements
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 the forward-looking statements contained in this press release. These factors include: (a) changes in demand from local and state governments and the private clients we serve; (b) general economic conditions nationally and globally and their impact on the market for our services; (c) competitive pressures and trends in our industry and our ability to compete successfully 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 as of the date of this press release, and the Company undertakes no obligation to update such statements except as required by law.

Investor Relations Contact

NV5 Global, Inc.
Jack Cochran
Vice President, Marketing and Investor Relations
Phone: +1-954-637-8048
Email: [email protected]