HOLLYWOOD, FL -- (Marketwired) -- 09/13/16 --
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 Weir Environmental, L.L.C. (Weir), a New Orleans, Louisiana-based emergency remediation and environmental assessment firm. Weir has been instrumental to ongoing cleanup and restoration efforts throughout Louisiana due to the recent flood that has damaged more than 60,000 homes. Weir also continues to provide residential and commercial property loss consulting services throughout parts of New York affected by Hurricane Sandy. The acquisition was made almost entirely in cash and is expected to be immediately accretive to NV5's earnings.
Weir's team of industrial hygienists, geologists, and engineers provide 24-hour emergency response, indoor air quality, mold and asbestos evaluation, occupational safety, and multi-phase environmental site assessment services. Weir's clients include major insurance companies, government agencies, and hospitality, education, commercial and residential institutions throughout affected areas in the United States.
Regarding the acquisition, Dickerson Wright, PE, Chairman and CEO of NV5, said, "We could not be more pleased to welcome Weir Environmental to the NV5 family. Weir's experts share our passion for serving the communities around us, even in the most serious and dire of circumstances. There are several major opportunities for cross-selling and synergy between our two companies, particularly in our Buildings, Energy, and Sciences (BES) division in the environmental health and occupational safety space."
Rob Costello, President of BES at NV5, added, "We began our relationship by joining forces through a formal teaming arrangement to address the immediate needs associated with the recent flooding. As we worked together, we saw the tremendous opportunity to expand our relationship through this acquisition."
Amanda Weir, Founder and President of Weir Environmental, said, "Joining NV5 will give our professionals expanded resources to serve our property loss consulting activities and our excellent insurance industry clients. We will now be able to provide a full range of engineering services to the insurance companies we have been working with for several years. We can also now pursue larger contracts that require more resources and a greater scope of services."
About Weir Environmental, L.L.C.
Before founding Weir Environmental, Amanda Weir worked at RGA Environmental, where she managed the remediation of public and commercial buildings that were destroyed in Hurricane Katrina, including the University of New Orleans, Delgado Community College, and Nunez Community College. Along with her team, Ms. Weir has been a first responder to Hurricanes Katrina, Gustav, Ike, Irene, Isaac, Sandy, and other flooding events and tornadoes. Amanda Weir graduated from the prestigious Goldman Sachs 10,000 Small Business Program, where she focused on insurance industry property loss consulting.
Weir Environmental is a full-service industrial hygiene and environmental consulting firm servicing a wide range of clients in 14 states. Clients include local, state and federal municipalities and institutions, insurance, real estate, financial and banking institutions, universities and schools, energy and oil industries, and retail/commercial businesses. Weir's reputation for responsible project management and oversight, professionalism, and integrity combined with a genuine concern for its clients' interests and safety is key to the firm's success.
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 58 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 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.