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 3, 2013
Architects urge government to reform design-build contracting process
Current federal contracting laws are discouraging talented architects from competing for federal contracts, depriving government and, by inference, taxpayers of the best design expertise available, according to AIA testimony presented today on Capitol Hill.
| Dec 3, 2013
Construction spending hits four-year peak after rare spike in public outlays
An unusual surge in public construction in October pushed total construction spending to its highest level since May 2009 despite a dip in both private residential and nonresidential activity.
| Nov 27, 2013
BIG's 'oil and vinegar' design wins competition for the Museum of the Human Body [slideshow]
The winning submission by Bjarke Ingels Group (BIG) and A+ Architecture mixes urban pavement and parkland in a flowing, organic plan, like oil and vinegar, explains Bjarke Ingels.
| Nov 27, 2013
Retail renaissance: What's next?
The retail construction category, long in the doldrums, is roaring back to life. Send us your comments and projects as we prepare coverage for this exciting sector.
| Nov 27, 2013
Pediatric hospitals improve care with flexible, age-sensitive design
Pediatric hospitals face many of the same concerns as their adult counterparts. Inpatient bed demand is declining, outpatient visits are soaring, and there is a higher level of focus on prevention and reduced readmissions.
| Nov 27, 2013
Exclusive survey: Revenues increased at nearly half of AEC firms in 2013
Forty-six percent of the respondents to an exclusive BD+C survey of AEC professionals reported that revenues had increased this year compared to 2012, with another 24.2% saying cash flow had stayed the same.
| Nov 27, 2013
Wonder walls: 13 choices for the building envelope
BD+C editors present a roundup of the latest technologies and applications in exterior wall systems, from a tapered metal wall installation in Oklahoma to a textured precast concrete solution in North Carolina.
| Nov 27, 2013
LEED for Healthcare offers new paths to green
LEED for Healthcare debuted in spring 2011, and certifications are now beginning to roll in. They include the new Puyallup (Wash.) Medical Center and the W.H. and Elaine McCarty South Tower at Dell Children’s Medical Center of Central Texas in Austin.
| Nov 27, 2013
University reconstruction projects: The 5 keys to success
This AIA CES Discovery course discusses the environmental, economic, and market pressures affecting facility planning for universities and colleges, and outlines current approaches to renovations for critical academic spaces.
| Nov 26, 2013
7 ways to make your firm more successful
Like all professional services businesses, AEC firms are challenged to effectively manage people. And even though people can be rather unpredictable, a firm’s success doesn’t have to be. Here are seven ways to make your firm more successful in the face of market variability and uncertainty.
