NV5 Strengthens Subscription-Based Services with Acquisition of myBIMteam
May 20 2024 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of technology, conformity assessment,
and consulting solutions, announced today that it has acquired
myBIMteam (TMCADD Consulting Services, LLC), a provider of building
information modeling, reality capture, and digital twin solutions.
Founded in 2003, myBIMteam provides full-service building
digitization services on a subscription basis to building owners,
facility managers, and architects to support asset management and
improve the energy efficiency and productivity of facilities. The
acquisition was made with a combination of cash and stock and will
be immediately accretive to NV5’s earnings.
“NV5 continues to invest in high-growth technology and
tech-enabled services that deliver scalability and barriers to
entry, while accelerating organic growth and profitability,” said
Dickerson Wright, PE, Executive Chairman of NV5. “MyBIMteam’s
subscription-based service delivery model supports NV5’s strategic
focus on expanding recurring and subscription-based services that
facilitate long-term client relationships and organic growth.”
MyBIMteam uses reality capture technologies to produce 3D
computer models used in the planning, renovation, and operation of
facilities in the education, healthcare, and industrial sectors.
Subscription services include software implementation, advisory
services, laser scanning, and modeling.
“NV5 has recognized that building digitization is an essential
part of the vision for technology growth, incorporating digital
twins and 3D reality capture into our entire building systems
portfolio, including data centers, clean energy conversion, systems
design, and commissioning, and we’re pleased to welcome TMCADD’s
talented technical experts to the NV5 team,” said Ben Heraud,
Co-CEO of NV5.
“We are excited about the growth opportunities NV5 brings to our
team, and we look forward to expanding our current offerings to our
clients with NV5’s full portfolio of services,” said Troy Mifsud,
President of myBIMteam.
About myBIMteamFor over 20 years, myBIMteam has
helped building owners and architects increase building
productivity and efficiency utilizing the latest building
digitization technology. MyBIMteam’s experienced architects and BIM
specialists deliver BIM support and management, reality capture,
laser scanning, and digital twins to support facility owners and
managers throughout the entire building lifecycle. For additional
information, please visit www.mybimteam.com.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of technology, conformity assessment, and consulting
solutions for public and private sector clients supporting
sustainable infrastructure, utility, and building assets and
systems. The Company focuses on multiple verticals: construction
quality assurance, infrastructure engineering, utility services,
buildings & technology, environmental health sciences, and
geospatial services to deliver innovative, sustainable solutions to
complex issues and improve lives in our communities. NV5 operates
out of more than 100 offices nationwide and abroad. For additional
information, please visit the Company’s website
at www.NV5.com. Also visit the Company
on LinkedIn, Twitter, Facebook,
and Instagram.
Forward-Looking StatementsThis 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.
Investor Relations ContactNV5 Global, Inc.Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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