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
| Dec 9, 2013
Does technology help or hinder innovation?
Whether digital technology will help or hinder workplace insights remains a topic of ongoing debate. FastCo.Design features insights from business scholars on both sides of the issue.
| Dec 9, 2013
What is life cycle cost optioneering?
Life cycle cost optioneering is a way of assessing alternative design options, analyzing their long-term capital and operational costs to identify those with the lowest price tag, over the entire life cycle.
| Dec 6, 2013
French concert hall includes integrated musical elements [VIDEO]
La Métaphone, a concert hall in Ognies, France, is a 1,980-sm facility with the unique characteristic of being a structural musical instrument. The solar-powered building incorporates musical elements in its walls, which can be played by musicians inside or outside the facility.
| Dec 5, 2013
Exclusive BD+C survey shows reaction to Sandy Hook tragedy
More than 60% of AEC professionals surveyed by BD+C said their firms experienced heightened interest in security measures from school districts they worked with.
| Dec 5, 2013
Translating design intent from across the globe
I recently attended the Bentley User Conference in Vejle, Denmark. I attended the event primarily to get a sense for the challenges our Danish counterparts are experiencing in project delivery and digital communication. One story I heard was from a BIM manager with Henning Larsen Architects in Denmark, who told me about a project she’d recently completed overseas in the Middle East. She outlined two distinct challenges and offered some interesting solutions to those challenges.
| Dec 4, 2013
SmithGroupJJR opens office in Shanghai, China
SmithGroupJJR, the oldest architecture and engineering firm in the U.S., has opened an office in Shanghai, China. The firm will focus on several of China’s biggest growth markets: research and development, healthcare, continuing care/retirement communities, and higher education.
| Dec 4, 2013
First look: Dubai's winning bid for World Expo 2020 [slideshow]
Dubai has been chosen as the site of the 2020 World Expo. HOK led the design team that developed the master plan for the Expo, which is expected to draw more than 25 million visitors from October 2020 through April 2021.
| Dec 3, 2013
‘BIM for all’ platform pays off for contractor
Construction giant JE Dunn is saving millions in cost avoidances by implementing a custom, cloud-based BIM/VDC collaboration platform.
| Dec 3, 2013
Historic Daytona International Speedway undergoing $400 million facelift
The Daytona International Speedway is zooming ahead on the largest renovation in the Florida venue’s 54-year history. Improvements include five redesigned guest entrances, an extended grandstand with 101,000 new seats, and more than 60 new trackside suites for corporate entertaining.
| Dec 3, 2013
Creating a healthcare capital project plan: The truth behind the numbers
When setting up a capital project plan, it's one thing to have the data, but quite another to have the knowledge of the process.
