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 5, 2014
5 tile design trends for 2014
Beveled, geometric, and high-tech patterns are among the hot ceramic tile trends, say tile design experts.
| Mar 4, 2014
How EIFS came to America
Design experts from Hoffmann Architects offer a brief history of exterior insulation and finish systems in the U.S.
| Mar 3, 2014
Negotiate your way to success
There are few business skills as important as negotiation. Many successful businesspeople pride themselves on their ability to turn a deal in their favor. Here are a few key negotiation principles to ensure you’re generally getting a good deal.
| Mar 3, 2014
5 ways to gain clients you actually like
Gaining more clients is one thing. Gaining more clients that you actually like is something else entirely. Here are some tips to perfect the art of attracting and retaining clients that you enjoy working with.
| Mar 3, 2014
Engineering and construction CEOs are cautiously optimistic about the global economy, says PwC
Firm leaders remain leery about the availability of skilled workers, the state of government debt and deficits, and rising material prices, according to PwC’s 2014 Global CEO Survey.
| Feb 28, 2014
Six finalists selected in design competition for Canadian Holocaust monument
David Adjaye and Daniel Libeskind are among the finalists for the National Holocaust Monument, planned near the Canadian War Museum in Ottawa.
| Feb 27, 2014
Target converts former prison dump into latest big-box store
Target's new San Rafael, Calif., location was built on the site of the former San Quentin prison dump.
| Feb 27, 2014
Coffman Engineers Kicks Off Year-Long 35 Year Anniversary Celebration
In February, Coffman Engineers, a mid-sized, multidiscipline engineering firm, kicks off a series of events celebrating the 35th anniversary of their founding.
| Feb 27, 2014
3 reasons to apply computational fluid dynamics on your next project
From right-sizing mechanical systems to understanding the impact of design alternatives, CFD offers a host of benefits for the Building Team.
| Feb 27, 2014
12 facts about heat-treated glass: Why stronger isn’t always better
Glass is heat-treated for two reasons: the first is to increase its strength to resist external stresses such as wind and snow loads, or thermal loads caused by the sun’s energy. The second is to temper glass so that it meets safety glazing requirements defined by applicable codes or federal standards.
