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
| Sep 30, 2022
Manley Spangler Smith Architects partners with PBK in strategic merger
Manley Spangler Smith Architects (MSSA), a Georgia-based, full-service architectural firm specializing in educational and municipal facilities, announced today a significant development aimed at increasing its capabilities, expertise, and suite of services.
| Sep 30, 2022
Lab-grown bricks offer potential low-carbon building material
A team of students at the University of Waterloo in Canada have developed a process to grow bricks using bacteria.
| Sep 29, 2022
FitzGerald establishes Denver office
The new location bolsters FitzGerald’s nationwide reach and capitalizes on local expertise and boots-on-the-ground to serve new and existing clients seeking to do business in Denver and the Front Range, as well as the Southwest United States, California, and Texas.
| Sep 28, 2022
New digital platform to foster construction supply chains free of forced labor
Design for Freedom by Grace Farms and the U.S. Coalition on Sustainability formed a partnership to advance shared goals regarding sustainable and ethical building material supply chains that are free of forced labor.
| Sep 27, 2022
New Buildings Institute released the Existing Building Decarbonization Code
New Buildings Institute (NBI) has released the Existing Building Decarbonization Code.
| Sep 23, 2022
High projected demand for new housing prompts debate on best climate-friendly materials
The number of people living in cities could increase to 80% of the total population by 2100. That could require more new construction between now and 2050 than all the construction done since the start of the industrial revolution.
| Sep 23, 2022
Central offices making a comeback after pandemic
In the early stages of the Covid pandemic, commercial real estate industry experts predicted that businesses would increasingly move toward a hub-and-spoke office model.
| Sep 22, 2022
Gainesville, Fla., ordinance requires Home Energy Score during rental inspections
The city of Gainesville, Florida was recently recognized by the U.S. Dept. of Energy for an adopted ordinance that requires rental housing to receive a Home Energy Score during rental inspections.
| Sep 21, 2022
New California law creates incentive for installing outdoor dining safety barriers
A new California law provides an incentive for commercial property owners to install barriers to protect outdoor diners.
| Sep 21, 2022
Demand for design services accelerates
Demand for design services from U.S. architecture firms grew at an accelerated pace in August, according to a new report today from The American Institute of Architects (AIA).
