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
| Jan 20, 2011
Worship center design offers warm and welcoming atmosphere
The Worship Place Studio of local firm Ziegler Cooper Architects designed a new 46,000-sf church complex for the Pare de Sufrir parish in Houston.
| Jan 20, 2011
Construction begins on second St. Louis community center
O’Fallon Park Recreation Complex in St. Louis, designed by local architecture/engineering firm KAI Design & Build, will feature an indoor aquatic park with interactive water play features, a lazy river, water slides, laps lanes, and an outdoor spray and multiuse pool.
| Jan 20, 2011
Community college to prepare next-gen Homeland Security personnel
The College of DuPage, Glen Ellyn, Ill., began work on the Homeland Security Education Center, which will prepare future emergency personnel to tackle terrorist attacks and disasters. The $25 million, 61,100-sf building’s centerpiece will be an immersive interior street lab for urban response simulations.
| Jan 19, 2011
Industrial history museum gets new home in steel plant
The National Museum of Industrial History recently renovated the exterior of a 1913 steel plant in Bethlehem, Pa., to house its new 40,000-sf exhibition space. The museum chose VOA Associates, which is headquartered in Chicago, to complete the design for the exhibit’s interior. The exhibit, which has views of five historic blast furnaces, will feature artifacts from the Smithsonian Institution to illustrate early industrial America.
| Jan 19, 2011
Baltimore mixed-use development combines working, living, and shopping
The Shoppes at McHenry Row, a $117 million mixed-use complex developed by 28 Walker Associates for downtown Baltimore, will include 65,000 sf of office space, 250 apartments, and two parking garages. The 48,000 sf of main street retail space currently is 65% occupied, with space for small shops and a restaurant remaining.
| Jan 19, 2011
Biomedical research center in Texas to foster scientific collaboration
The new Health and Biomedical Sciences Center at the University of Houston will facilitate interaction between scientists in a 167,000-sf, six-story research facility. The center will bring together researchers from many of the school’s departments to collaborate on interdisciplinary projects. The facility also will feature an ambulatory surgery center for the College of Optometry, the first of its kind for an optometry school. Boston-based firms Shepley Bulfinch and Bailey Architects designed the project.
| Jan 19, 2011
San Diego casino renovations upgrade gaming and entertainment
The Sycuan Casino in San Diego will get an update with a $27 million, 245,000-sf renovation. Hnedak Bobo Group, Memphis, Tenn., and Cleo Design, Las Vegas, drew design inspiration from the historic culture of the Sycuan tribe and the desert landscape, creating a more open space with better circulation. Renovation highlights include a new “waterless” water entry feature and new sports bar and grill, plus updates to gaming, poker, off-track-betting, retail, and bingo areas. The local office of San Francisco-based Swinerton Builders will provide construction services.
| Jan 19, 2011
Extended stay hotel aims to provide comfort of home
Housing development company Campus Apartments broke ground on a new extended stay hotel that will serve the medical and academic facilities in Philadelphia’s University City, including the University of Pennsylvania and the Children’s Hospital of Philadelphia. The 11,000-sf hotel will operate under Hilton’s Homewood Suites brand, with 136 suites with full kitchens and dining and work areas. A part of the city’s EnergyWorks loan program, the project aims for LEED with a green roof, low-flow fixtures, and onsite stormwater management. Local firms Alesker & Dundon Architects and GC L.F. Driscoll Co. complete the Building Team.
| Jan 19, 2011
New Fort Hood hospital will replace aging medical center
The Army Corps of Engineers selected London-based Balfour Beatty and St. Louis-based McCarthy to provide design-build services for the Fort Hood Replacement Hospital in Texas, a $503 million, 944,000-sf complex partially funded by the American Recovery and Reinvestment Act. The firm plans to use BIM for the project, which will include outpatient clinics, an ambulance garage, a central utility plant, and three parking structures. Texas firms HKS Architects and Wingler & Sharp will participate as design partners. The project seeks LEED Gold.
| Jan 19, 2011
Museum design integrates Greek history and architecture
Construction is under way in Chicago on the National Hellenic Museum, the nation’s first museum devoted to Greek history and culture. RTKL designed the 40,000-sf limestone and glass building to include such historic references as the covered walkway of classical architecture and the natural wood accents of Byzantine monasteries. The museum will include a research library and oral history center, plus a 3,600-sf rooftop terrace featuring three gardens. The project seeks LEED Silver.
