HOLLYWOOD, FL -- (Marketwired) -- 06/01/16 --
NV5 Global, Inc. (the "Company" or "NV5")
(NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired certain assets of X8e-Vinyard (Vinyard) formerly known as Vinyard & Associates, Inc., an Albuquerque, New Mexico based professional geotechnical consulting and construction materials inspection and laboratory testing services company. Vinyard has been providing services to governmental and commercial clients for over 30 years within New Mexico and throughout the southwest, including Texas, Colorado, Arizona, and Utah.
The acquisition will be immediately accretive to NV5's earnings and was made almost entirely in cash.
"Vinyard is a very influential geotechnical engineering company in Albuquerque known for the excellent services it provides to an impressive local and federal government client base in the Southwest, including the New Mexico Department of Transportation and the U.S. Air Force Base in Kirtland," said Dickerson Wright, PE, Chairman and CEO of NV5.
Robert Abeyta, CMT Operations Manager at Vinyard, said, "We are very excited to join NV5. We will now have expanded technical capabilities and resources that will enhance the services we can provide to our clients."
"By acquiring the legacy Vinyard operations, NV5 now has over 50 years of combined experience providing environmental, geotechnical, and construction-related services throughout the southwestern U.S. and elsewhere," said Paul Fensterer, COO for Nuclear Environmental Services at NV5. "The Vinyard acquisition will contribute substantially to the $3.5 million in annualized revenues we anticipate our consolidated operations in Albuquerque will generate. We look forward to leveraging our mutual synergies and market positions that will support NV5's plan for continued growth and market expansion."
Vinyard will add significant capabilities to NV5's existing environmental, geotechnical engineering, and materials testing services operations in Albuquerque by providing flexible and rigid pavement design for roadways and airfields, asphalt and fire proofing material laboratory testing, and Special Inspection services, for soils, pile and pier foundations, masonry, steel and concrete construction, cold formed metal framing, wind force resisting systems, and seismic force resisting and designated seismic systems. Some of Vinyard's recent and ongoing projects include: geotechnical engineering and flexible pavement design for light aircraft runways and hangers at regional and International airports; geotechnical engineering, heavy pavement design and construction materials testing for airfield aprons and runways to support Military C-17 aircraft at Kirtland AFB; geotechnical engineering and construction materials testing for expansion of the Presbyterian Rust Medical Center, a major multi-level regional hospital; material testing and Special Inspection for the Greater Albuquerque Housing Partnership, and; ongoing multi-year on-call geotechnical and construction materials testing services contracts such as for a major regional Flood Control and State of New Mexico Department of Transportation agencies.
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 57 offices in 25 states nationwide, and is headquartered in Hollywood, Florida. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This news 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) our ability to successfully execute our mergers and acquisitions strategy and the subsequent integration of new companies into our business; (b) changes in demand from the local and state government and private clients that we serve; (c) general economic conditions, nationally and globally, and their effect on the market for our services; (d) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (e) changes in laws, regulations, or policies; and (f) 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.
NV5 Global, Inc.
Lauren Wright, Ph.D.
Director of Investor Relations
Source: NV5 Global, Inc.