N|V|5 Global, one of the fastest-growing engineering and consulting firms in the industry, has proposed a public offering of 1.27 million shares of its common stock at a price of $79 per share. The company, based in Hollywood, Fla., expects this sale to net an estimated $93.5 million.
BofA Merrill Lynch and Roth Capital Partners are managing the offering, the proceeds from which N|V|5 intends to use for “general corporate purposes” that could include more acquisitions.
Since 2010, N|V|5 Global has acquired more than 25 companies. It transacted its latest purchase last September, when it acquired Marron and Associates, an environmental services firm based in New Mexico with 15 full-time professionals.
N|V|5 focuses primarily on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out more than 100 locations nationwide and abroad in Macau, Hong Kong, and Vietnam.
On Wednesday, the company’s stock price hit $90.25 per share, pushing it market capitalization briefly above $1 billion. (Its stock price closed yesterday at $83 per share.)
For the six months ended June 30, N|V|5 reported total revenue of $198.6 million, a 34.3% increase over the same period in 2017. Its net income for this period, $11.9 million, was up more than 80%.
The stock offering is scheduled to close on Monday, after which N|V|5 would still be controlled by insiders,. The company’s Prospectus states that there would be 12,399,000 shares of common stock outstanding after the offering. As of August 3, there were 732 holders of record of N|V|5’s common stock, excluding beneficial owners.
The Prospectus states that the Wright Family Trust has offered an additional 190,500 of its 921,717 shares that underwriters can purchase if they choose to exercise their options within the next 30 days. Dickerson Wright, PE, has been N|V|5’s Chairman and CEO since the company’s inception in 2009.
Related Stories
Giants 400 | Oct 3, 2019
Top 70 Cultural Sector Engineering Firms for 2019
Jacobs, Arup, EXP, BRPH, and Thornton Tomasetti head the rankings of the nation's largest cultural facility sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Oct 3, 2019
2019 Cultural Facility Giants Report: New libraries are all about community
The future of libraries is less about being quiet and more about hands-on learning and face-to-face interactions. This and more cultural sector trends from BD+C's 2019 Giants 300 Report.
3D Printing | Sep 17, 2019
Additive manufacturing goes mainstream in the industrial sector
More manufacturers now include this production process in their factories.
Multifamily Housing | Sep 12, 2019
Meet the masters of offsite construction
Prescient combines 5D software, clever engineering, and advanced robotics to create prefabricated assemblies for apartment buildings and student housing.
Giants 400 | Sep 11, 2019
Top 85 Industrial Sector Engineering Firms for 2019
Jacobs, Fluor, IPS, CRB, and SSOE head the rankings of the nation's largest industrial sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Multifamily Housing | Sep 10, 2019
Carbon-neutral apartment building sets the pace for scalable affordable housing
Project Open has no carbon footprint, but the six-story, solar-powered building is already leaving its imprint on Salt Lake City’s multifamily landscape.
Giants 400 | Sep 9, 2019
2019 Industrial Sector Giants Report: Managing last mile delivery
This and more industrial building sector trends from Building Design+Construction's 2019 Giants 300 Report.
Codes and Standards | Sep 9, 2019
Free app calculates maximum allowable heights and areas for buildings
A free app that calculates the maximum allowable heights and areas for buildings of various occupancy classifications and types of construction has been released.
Retail Centers | Sep 6, 2019
Another well-known retailer files for bankruptcy: Here's the solution to more empty anchor stores
Where can you find the future of retail? At the intersection of experience and instant gratification.
Giants 400 | Sep 5, 2019
Top 70 Hotel Sector Engineering Firms for 2019
NV5, EXP, Jensen Hughes, KPFF, and Thornton Tomasetti head the rankings of the nation's largest hotel sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
