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
Data Centers | Oct 1, 2024
10 biggest impacts to the data center market in 2024–2025
While AI sends the data center market into the stratosphere, the sector’s accelerated growth remains impacted by speed-to-market demands, supply chain issues, and design innovation necessities.
Higher Education | Sep 30, 2024
Studio Gang turns tobacco warehouse into the new home of the University of Kentucky’s College of Design
Studio Gang has completed the Gray Design Building, the new home of the University of Kentucky’s College of Design. In partnership with K. Norman Berry Associates Architects, Studio Gang has turned a former tobacco warehouse into a contemporary facility for interdisciplinary learning and collaboration.
Warehouses | Sep 27, 2024
California bill would limit where distribution centers can be built
A bill that passed the California legislature would limit where distribution centers can be located and impose other rules aimed at reducing air pollution and traffic. Assembly Bill 98 would tighten building standards for new warehouses and ban heavy diesel truck traffic next to sensitive sites including homes, schools, parks and nursing homes.
Laboratories | Sep 26, 2024
BSL conversions: A cost-efficient method to support high-containment research
Some institutions are creating flexible lab spaces that can operate at a BSL-2 and modulate up to a BSL-3 when the need arises. Here are key aspects to consider when accommodating a rapid modulation between BSL-2 and BSL-3 space.
MFPRO+ News | Sep 24, 2024
Major Massachusetts housing law aims to build or save 65,000 multifamily and single-family homes
Massachusetts Gov. Maura Healey recently signed far-reaching legislation to boost housing production and address the high cost of housing in the Bay State. The Affordable Homes Act aims to build or save 65,000 homes through $5.1 billion in spending and 49 policy initiatives.
Mixed-Use | Sep 19, 2024
A Toronto development will transform a 32-acre shopping center site into a mixed-use urban neighborhood
Toronto developers Mattamy Homes and QuadReal Property Group have launched The Clove, the first phase in the Cloverdale, a $6 billion multi-tower development. The project will transform Cloverdale Mall, a 32-acre shopping center in Toronto, into a mixed-use urban neighborhood.
3D Printing | Sep 17, 2024
Alquist 3D and Walmart complete one of the nation’s largest free-standing, 3D-printed commercial structures
Walmart has completed one of the largest free-standing, 3D-printed commercial structures in the US. Alquist 3D printed the almost 8,000-sf, 20-foot-high addition to a Walmart store in Athens, Tenn. The expansion, which will be used for online pickup and delivery, is the first time Walmart has applied 3D printing technology at this scale.
Retail Centers | Sep 17, 2024
Thinking outside the big box (store)
For over a decade now, the talk of the mall industry has been largely focused on what developers can do to fill the voids left by a steady number of big box store closures. But what do you do when big box tenants stay put?
Government Buildings | Sep 17, 2024
OSHA’s proposed heat standard published in Federal Register
The Occupational Safety and Health Administration (OSHA) has published a proposed standard addressing heat illness in outdoor and indoor settings in the Federal Register. The proposed rule would require employers to evaluate workplaces and implement controls to mitigate exposure to heat through engineering and administrative controls, training, effective communication, and other measures.
Codes and Standards | Sep 17, 2024
New California building code encourages, but does not mandate heat pumps
New California homes are more likely to have all-electric appliances starting in 2026 after the state’s energy regulators approved new state building standards. The new building code will encourage installation of heat pumps without actually banning gas heating.
