NV5 Acquires Tampa-Based Transportation Infrastructure Engineering Division From Pitman-Hartenstein & Associates
July 09 2013 - 8:30AM
Marketwired
NV5 Holdings, Inc. (the "Company") (NASDAQ: NVEEU), a provider of
professional and technical engineering and consulting solutions,
has acquired the Tampa, Florida division of Pitman-Hartenstein
& Associates (PH&A), which specializes in transportation
infrastructure engineering.
The assets of the Tampa division were purchased in an all-cash
transaction, and are expected to be immediately accretive to NV5
earnings based on the division's project portfolio and
pipeline.
All of the staff and management that built this successful Tampa
division have joined the NV5 team -- including 15-year PH&A
veteran and 30-year veteran engineer, Tom Montgomery, P.E. -- who
will continue to support their major Florida-based public sector
clients.
"This acquisition strengthens our platform by now allowing us to
deliver transportation engineering services to the Southeastern
U.S. as we have in California and the Rocky Mountain region,"
commented Dickerson Wright, chairman and CEO of NV5. "PH&A's
commitment to quality and innovation aligns perfectly with ours and
we look forward to working with this highly capable team of
professionals."
Montgomery commented: "Partnering with a national engineering
firm like NV5 brings our team greater resources to expand upon the
transportation infrastructure engineering services we offer. We
expect to leverage NV5's extensive experience and proven track
record to better serve our public transportation clients in their
current and future projects."
About Pitman-Hartenstein & Associates
Founded in 1986, Pitman-Hartenstein & Associates, Inc.
(PH&A) is a civil, structural and environmental engineering
firm whose staff is comprised of seasoned professionals and
acknowledged experts in a broad spectrum of transportation-related
engineering disciplines, including roadway and bridge design, water
and sewer system design, site planning and development, airport
facility design, and project development and environment studies.
For additional information, go to www.phaengineers.com.
About NV5 Holdings, Inc. NV5 Holdings,
Inc. (NASDAQ: NVEEU) 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
service verticals: construction quality assurance, infrastructure
engineering, energy services, program management and environmental
services. The Company operates 21 offices in California, Colorado,
Utah, Florida and New Jersey 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.
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. Such forward-looking statements
include, but are not limited to, statements regarding the
acquisition being immediately accretive to NV5's earnings. 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 herein.
Such factors include, but are not limited to: (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.
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Company Contact: NV5 Holdings, Inc. Richard Tong Tel
1-954-495-2114 Email Contact Investor Relations: Liolios
Group, Inc. Cody Slach Tel 1-949-574-3860 Email Contact
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