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
| May 3, 2012
Zero Energy Research Lab opens at North Texas
The living lab—the only one of its kind in Texas—is designed to test various technologies and systems in order to achieve a net-zero consumption of energy.
| May 3, 2012
NSF publishes ANSI standard evaluating the sustainability of single ply roofing membranes
New NSF Standard provides manufacturers, specifiers and building industry with verifiable, objective criteria to identify sustainable roofing products.
| May 3, 2012
Gilbane to provide CM services for North Reading’s integrated middle/high school
The project scope includes a wastewater treatment plant, demolition of the existing high school and extensive athletic fieldwork.
| May 3, 2012
Ground broken for $94 million hospital expansion at Scripps Encinitas
New facility to more than double emergency department size, boost inpatient beds by 43%.
| May 3, 2012
Rudolph and Sletten, Inc. wins CMAA award
Firm recognized for the renovation of Grossmont-Cuyamaca Community College’s Student Administrative & Griffin Student Center.
| May 2, 2012
Trimble acquires SketchUp 3D modeling platform
The transaction is expected to close in the second quarter of 2012.
| May 2, 2012
Building Team completes two additions at UCLA
New student housing buildings are part of UCLA’s Northwest Campus Student Housing In-Fill Project.
| May 2, 2012
Public housing can incorporate sustainable design
Sustainable design achievable without having to add significant cost; owner and residents reap benefits
