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
Sponsored | | Jun 30, 2013
Get your 'Early Bird' entry in for BD+C 30th Annual Reconstruction Awards
The deadline is for BD+C's 30th Annual Reconstruction Awards is July 19, but if you get me a draft of your entry by July 12 (earlier if possible, please!), we'll read it and give you feedback and suggestions that could help you win. We'll give you enough time to rework your entry in time to meet the deadline. We do this "Early Bird" service to help you put together the best possible entry - one that will answer any questions our distinguished jury members may come up with. However, we must emphasize that the BD+C Reconstruction Awards program is a juried competition, so there are no guarantees you'll win. We're just trying to improve your odds. Building Design+Construction is the only publication in its field to recognize the importance of reconstruction in all its forms - historic preservation, adaptive reuse, renovation, fitouts, and reconstruction with addition. And we've been doing it for 30 years. Incidentally, reconstruction accounts for 30-35% of all revenue for AEC firms, so it's a key component of the US/Canada design and construction industry. Send your draft entry to: rcassidy@sgcmail.com. And good luck!
| Jun 28, 2013
Calculating the ROI of building enclosure commissioning
A researcher at Lawrence Berkeley National Laboratory calls building enclosure commissioning “the single-most cost-effective strategy for reducing energy, costs, and greenhouse gas emissions in buildings today.”
| Jun 28, 2013
A brief history of windows in America
Historic window experts from Hoffmann Architects look back at the origin of windows in the U.S.
| Jun 28, 2013
Building owners cite BIM/VDC as 'most exciting trend' in facilities management, says Mortenson report
A recent survey of more than 60 building owners and facility management professionals by Mortenson Construction shows that BIM/VDC is top of mind among owner professionals.
| Jun 27, 2013
Thermal, solar control designs can impact cooling loads by 200%, heating loads by 30%
Underestimating thermal bridging can greatly undermine a building’s performance contributing to heating load variances of up to 30% and cooling load variances of up to 200%, says the MMM Group.
| Jun 26, 2013
New York’s ‘Scaffold Law’ may be altered to place larger burden on workers
New York's Scaffold Law, which “places the burden of responsibility on the contractor to prove that the job site was safe for workers,” could be facing a major change.
| Jun 26, 2013
Commercial real estate execs eye multifamily, retail sectors for growth, says KPMG report
The multifamily, retail, and hospitality sectors are expected to lead commercial building growth, according to the 2013 KPMG Commercial Real Estate Outlook Survey.
| Jun 25, 2013
Mirvish, Gehry revise plans for triad of Toronto towers
A trio of mixed-use towers planned for an urban redevelopment project in Toronto has been redesigned by planners David Mirvish and Frank Gehry. The plan was announced last October but has recently been substantially revised.
| Jun 25, 2013
First look: Herzog & de Meuron's Jade Signature condo tower in Florida
Real estate developer Fortune International has released details of its new Jade Signature property, to be developed in Sunny Isles Beach near Miami. The luxury waterfront condo building will include 192 units in a 57-story building near high-end retail destinations and cultural venues.
| Jun 20, 2013
In a BIM world, how much information is too much information?
What information do you find valuable to keep within the BIM world and what information do you feel is best archived or referenced outside of the model itself?
