HOLLYWOOD, FL -- (Marketwired) -- 05/18/16 --
NV5 Global, Inc. (the "Company" or "NV5")
(NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has signed a definitive agreement to acquire Dade Moeller & Associates, Inc. (Dade Moeller), a Richland, Washington-based environmental health and safety firm with annualized revenues of approximately $25 million. The acquisition will be made through a combination of cash and stock and is expected to be immediately accretive to NV5's earnings.
Dade Moeller specializes in the provision of radiation exposure and protection services as well as nuclear safety and industrial hygiene analyses, a discipline in which the Company has built a significant federal government client base. Dade Moeller's 150 professionals include Certified Health Physicists, Certified Industrial Hygienists, Certified Safety Professionals and Professional Engineers and are based primarily in Washington, Maryland, Tennessee, and Nevada, although Dade Moeller also maintains project offices in Ohio and Louisiana.
Dickerson Wright, Chairman and CEO of NV5, said, "Dade Moeller will become NV5's platform organization in our Environmental Health and Safety business line. We could not be more pleased to begin working with their accomplished team, which we believe will be instrumental to NV5's growth, particularly in the federal and energy sectors. Dade Moeller has been under contract with the U.S. Department of Energy at the Hanford, Washington site since 1994, where NV5 is currently doing construction quality assurance work. Dade Moeller also has had multi-year involvement in the assessment of damage that resulted from the Deepwater Horizon oil spill in the Gulf. Other significant assignments include state compensation for worker radiation exposure, long-term assignments at the Tennessee Valley Authority nuclear research site, and radiation exposure protection assignments at national sporting events and concerts."
"We are proud to be joining NV5 and excited to create new opportunities for the team and our employees going forward," said Matt Moeller, a certified health physicist and CEO of Dade Moeller. "NV5 shares our vision of 'protecting people and the environment' and values our services supporting high-hazard and other challenging projects across the country. We look forward to introducing our many clients, teaming partners, and professional colleagues to the full range of our new company's capabilities and, similarly, introducing our new NV5 teammates to our people and skills. We believe the distinct client profiles of NV5 and of Dade Moeller will complement our combined organization. We are indeed
enthusiastic to start this new chapter in our collective success stories."
About Dade Moeller & Associates, Inc.
Dade Moeller was founded in Richland, Washington (near the U.S. Department of Energy's Hanford nuclear site) in 1994. The firm has an exceptional professional reputation in health physics, including radiation protection and nuclear safety analyses, and focuses on the central principle of protecting people and the environment. Dade Moeller
employs over 150 highly skilled professionals, including more Certified Health Physicists than any other private company in the United States, as well as Certified Industrial Hygienists, Certified Safety Professionals, Professional Engineers, and others with environmental and safety certifications and licenses. Notable clients and projects include the National Institute for Occupational Safety and Health radiation dose reconstruction program, the National Oceanic and Atmospheric Administration Deepwater Horizon oil spill Natural Resource Damage Assessment, Hanford Mission Support Alliance site cleanup and worker radiation safety services, and naturally-occurring radioactive material (NORM) consulting services for oil and gas companies, landfills, and city governments. Dade Moeller has safeguarded some of the most complex work sites in the world through its industrial hygiene and occupational safety programs and field services, and it brings a full range of capabilities to environmental projects, including permits, licenses, and National Environmental Policy Act analyses. Dade Moeller also audits environmental laboratories, conducts training on radiological and occupational safety topics, and provides radiation-related facility design, construction, and operational services to hospitals, cancer centers, and Veterans Affairs facilities.
Dade Moeller has offices in Richland, Washington (HQ); Gaithersburg, Maryland; Oak Ridge, Tennessee; and Las Vegas, Nevada, and supports long-term projects from client sites in Cincinnati, Ohio, and Port Allen, Louisiana.
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 53 offices in 21 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 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.
NV5 Global, Inc.
Lauren Wright, PhD
Director of Investor Relations
Source: NV5 Global, Inc.