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
Construction Costs | Apr 16, 2024
How the new prevailing wage calculation will impact construction labor costs
Looking ahead to 2024 and beyond, two pivotal changes in federal construction labor dynamics are likely to exacerbate increasing construction labor costs, according to Gordian's Samuel Giffin.
Healthcare Facilities | Apr 16, 2024
Mexico’s ‘premier private academic health center’ under design
The design and construction contract for what is envisioned to be “the premier private academic health center in Mexico and Latin America” was recently awarded to The Beck Group. The TecSalud Health Sciences Campus will be located at Tec De Monterrey’s flagship healthcare facility, Zambrano Hellion Hospital, in Monterrey, Mexico.
Market Data | Apr 16, 2024
The average U.S. contractor has 8.2 months worth of construction work in the pipeline, as of March 2024
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.2 months in March from 8.1 months in February, according to an ABC member survey conducted March 20 to April 3. The reading is down 0.5 months from March 2023.
Laboratories | Apr 15, 2024
HGA unveils plans to transform an abandoned rock quarry into a new research and innovation campus
In the coastal town of Manchester-by-the-Sea, Mass., an abandoned rock quarry will be transformed into a new research and innovation campus designed by HGA. The campus will reuse and upcycle the granite left onsite. The project for Cell Signaling Technology (CST), a life sciences technology company, will turn an environmentally depleted site into a net-zero laboratory campus, with building electrification and onsite renewables.
Codes and Standards | Apr 12, 2024
ICC eliminates building electrification provisions from 2024 update
The International Code Council stripped out provisions from the 2024 update to the International Energy Conservation Code (IECC) that would have included beefed up circuitry for hooking up electric appliances and car chargers.
Urban Planning | Apr 12, 2024
Popular Denver e-bike voucher program aids carbon reduction goals
Denver’s e-bike voucher program that helps citizens pay for e-bikes, a component of the city’s carbon reduction plan, has proven extremely popular with residents. Earlier this year, Denver’s effort to get residents to swap some motor vehicle trips for bike trips ran out of vouchers in less than 10 minutes after the program opened to online applications.
Laboratories | Apr 12, 2024
Life science construction completions will peak this year, then drop off substantially
There will be a record amount of construction completions in the U.S. life science market in 2024, followed by a dramatic drop in 2025, according to CBRE. In 2024, 21.3 million sf of life science space will be completed in the 13 largest U.S. markets. That’s up from 13.9 million sf last year and 5.6 million sf in 2022.
Construction Costs | Apr 11, 2024
Construction materials prices increase 0.4% in March 2024
Construction input prices increased 0.4% in March compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.4% for the month.
K-12 Schools | Apr 10, 2024
A San Antonio school will provide early childhood education to a traditionally under-resourced region
In San Antonio, Pre-K 4 SA, which provides preschool for 3- and 4-year-olds, and HOLT Group, which owns industrial and other companies, recently broke ground on an early childhood education: the South Education Center.
University Buildings | Apr 10, 2024
Columbia University to begin construction on New York City’s first all-electric academic research building
Columbia University will soon begin construction on New York City’s first all-electric academic research building. Designed by Kohn Pedersen Fox (KPF), the 80,700-sf building for the university’s Vagelos College of Physicians and Surgeons will provide eight floors of biomedical research and lab facilities as well as symposium and community engagement spaces.
