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
| Jun 2, 2014
OSHA launches 'stand down' program to promote fall prevention
New program urges firms to explore ways to prevent jobsite falls, which are a leading cause of death and injury for construction workers.
| May 30, 2014
MIT researchers create 'home in a box' transformable wall system for micro apartments
Dubbed CityHome, the system integrates furniture, storage, exercise equipment, lighting, office equipment, and entertainment systems into a compact wall unit.
| May 30, 2014
Riding high: L.A., Chicago working on their version of the High Line elevated park
Cities around the U.S. are taking notice of New York's highly popular High Line elevated park system. Both Chicago and Los Angeles are currently working on High Line-like projects.
| May 30, 2014
Developer will convert Dallas' storied LTV Building into mixed-use residential tower
New Orleans-based HRI Properties recently completed the purchase of one of the most storied buildings in downtown Dallas. The developer will convert the LTV Building into a mixed-use complex, with 171 hotel rooms and 186 luxury apartments.
| May 29, 2014
Turn your pen-and-paper sketches into digital drawings in seconds with this nifty gadget [video]
Funded through Kickstarter, iSketchnote uses a smart pen to instantly digitize hand-written notes and drawings.
| May 29, 2014
Wood advocacy groups release 'lessons learned' report on tall wood buildings
The wood-industry advocacy group reThink Wood has released "Summary Report: Survey of International Tall Wood Buildings," with informatino from 10 mid-rise projects in Europe, Australia, and Canada.
| May 29, 2014
Five finalists, including SOM and Zaha Hadid, chosen in competition for Sweden's tallest skyscraper
In Sernecke's competition to design Sweden's tallest skyscraper, five finalists have been selected: Manuelle Gautrand Architects, Ian Simpson Architects, SOM, Wingårdhs Arkitektkontor, and Zaha Hadid Architects.
| May 29, 2014
Retail renovation trends: Omni-channel shopping, personalized experiences among top goals of new store designs
In pursuit of enhanced customer experiences, retailers are using Big Data, interactive technology, and omni-channel shopping to transform their bricks and mortar locations.
| May 28, 2014
KPF's dual towers in Turkey will incorporate motifs, symbols of Ottoman Empire
The two-building headquarters for Turkey’s largest and oldest financial institution, Ziraat Bank, is inspired by the country’s cultural heritage.
| May 28, 2014
Moshe Safdie's twin residential towers in Singapore will be connected by 'sky pool' 38 stories in the air [slideshow]
Moshe Safdie's latest project, a pair of 38-story luxury residential towers in Singapore, will be linked by three "sky garden" bridges, including a rooftop-level bridge with a lap pool running the length between the two structures.
