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
| Mar 24, 2014
Snøhetta unveils plans for serpentine mountain hotel
The winding hotel and apartment building will be built between the mountains and the sea in remote Glåpen, Norway.
| Mar 24, 2014
Frank Lloyd Wright's S.C. Johnson Research Tower to open to the public—32 years after closing
The 14-story tower, one of only two Wright-designed high-rises to be built, has been off limits to the public since its construction in 1950.
| Mar 21, 2014
Forget wood skyscrapers - Check out these stunning bamboo high-rise concepts [slideshow]
The Singapore Bamboo Skyscraper competition invited design teams to explore the possibilities of using bamboo as the dominant material in a high-rise project for the Singapore skyline.
| Mar 21, 2014
How to get more referrals
If you’re having a hard time attracting new referrals, here are a few techniques for increasing the number of interactions with potential clients.
| Mar 20, 2014
D.C. breaks ground on $2B mega waterfront development [slideshow]
When complete, the Wharf will feature approximately 3 million sf of new residential, office, hotel, retail, cultural, and public uses, including waterfront parks, promenades, piers, and docks.
| Mar 20, 2014
13 dazzling wood building designs [slideshow]
From bold structural glulam designs to striking textured wall and ceiling schemes, these award-winning building projects showcase the design possibilities using wood.
| Mar 20, 2014
Fluor defines the future 7D deliverable without losing sight of real results today
A fascinating client story by Fluor SVP Robert Prieto reminds us that sometimes it’s the simplest details that can bring about real results today—and we shouldn’t overlook them, even as we push to change the future state of project facilitation.
| Mar 19, 2014
Gehry, Zaha, Foster, Meier: Vote for your top 'starchitect' in this March Madness design legends tourney
Fast Company's Bracket Madness tournament pits 32 designers against each other to see who truly is the world's greatest living designer.
| Mar 19, 2014
Is it time to start selecting your own clients?
Will 2014 be the year that design firms start selecting the clients they want rather than getting in line with competitors to respond to RFPs? That’s the question posed by a recent thought-provoking article.
| Mar 19, 2014
How to develop a healthcare capital project using a 'true north charter'
Because healthcare projects take years to implement, developing a true north charter is essential for keeping the entire team on track and moving in the right direction.