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
Multifamily Housing | Oct 5, 2022
Co-living spaces, wellness-minded designs among innovations in multifamily housing
The booming multifamily sector shows no signs of a significant slowdown heading into 2023. Here is a round up of Giants 400 firms that are driving innovation in this sector.
Contractors | Oct 5, 2022
Materials shortages, cost spikes throwing Design-Bid-Build process out of whack
The traditional Design-Bid-Build delivery process is under considerable stress this year as materials shortages and cost spikes are upending usual practices, according to a new report from JLL.
Green | Oct 5, 2022
In California, a public power provider’s new headquarters serves as a test case for an innovative microgrid and for reducing greenhouse gas emissions
Sonoma Clean Power (SCP), the public power provider for California’s Sonoma and Mendocino Counties, recently unveiled its new all-electric headquarters.
Contractors | Oct 4, 2022
Which comes first, the building or the cost estimate?
At the start of a project, don’t forget to establish financial parameters when you’re discussing the design and program. By establishing the costs up front, you can avoid the pitfalls that might derail your project and guarantee its lasting success.
Fire and Life Safety | Oct 4, 2022
Fire safety considerations for cantilevered buildings
Bold cantilevered designs are prevalent today, as developers and architects strive to maximize space, views, and natural light in buildings. Cantilevered structures, however, present a host of challenges for building teams, according to José R. Rivera, PE, Associate Principal and Director of Plumbing and Fire Protection with Lilker.
| Oct 4, 2022
Rental property owners want access to utility usage data for whole properties
As pressure from investors for ESG reporting mounts, owners of multifamily properties increasingly look to collect whole-building utility usage data.
| Oct 4, 2022
In dire need of affordable housing, Aspen, Colo. will get a development that provides 277 affordable homes
A few miles from downtown Aspen, Colo., a development will provide 277 new affordable homes for an area experiencing a dire affordable housing crisis.
Green | Oct 3, 2022
California regulators move to ban gas heaters for existing buildings
California regulators voted unanimously recently on a series of measures that include a ban on the sale of natural gas-powered heating and hot water systems beginning in 2030.
| Oct 3, 2022
The College of the Holy Cross completes a $110 million performing arts center
In Worcester, Mass., a one-hour drive from Boston, the College of the Holy Cross has completed its $110 million Prior Performing Arts Center.
Resiliency | Sep 30, 2022
Designing buildings for wildfire defensibility
Wold Architects and Engineers' Senior Planner Ryan Downs, AIA, talks about how to make structures and communities more fire-resistant.
