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
Design Innovation Report | Apr 19, 2023
Reinforced concrete walls and fins stiffen and shade the National Bank of Kuwait skyscraper
When the National Bank of Kuwait first conceived its new headquarters more than a decade ago, it wanted to make a statement about passive design with a soaring tower that could withstand the extreme heat of Kuwait City, the country’s desert capital.
Design Innovation Report | Apr 19, 2023
HDR uses artificial intelligence tools to help design a vital health clinic in India
Architects from HDR worked pro bono with iKure, a technology-centric healthcare provider, to build a healthcare clinic in rural India.
Design Innovation Report | Apr 19, 2023
Meet The Hithe: A demountable building for transient startups
The Hithe, near London, is designed to be demountable and reusable. The 2,153-sf building provides 12 units of business incubator workspace for startups.
Airports | Apr 18, 2023
India's mammoth new airport terminal takes ‘back to nature’ seriously
On January 15, 2023, Phase 1 of the Kempegowda International Airport’s Terminal 2, in Bengaluru, India, began domestic operations. The 2.75 million-sf building, designed by Skidmore, Owings & Merrill (SOM), is projected to process 25 million passengers annually, while providing its travelers with a healthier environment, thanks to extensive indoor-outdoor landscaping that offers serenity to what is normally a frenzied experience.
Resiliency | Apr 18, 2023
AI-simulated hurricanes could aid in designing more resilient buildings
Researchers at the National Institute of Standards and Technology (NIST) have devised a new method of digitally simulating hurricanes in an effort to create more resilient buildings. A recent study asserts that the simulations can accurately represent the trajectory and wind speeds of a collection of actual storms.
Green | Apr 18, 2023
USGBC and IWBI unveil streamlined certification pathway for LEED and WELL green building programs
The U.S. Green Building Council, Green Business Certification Inc., and the International WELL Building Institute released a streamlined process for projects pursuing certifications for the LEED green building rating system and the WELL Building Standard. The new protocol simplifies documentation for projects that are pursuing both certifications at the same time or that have already earned one certification and are looking to add the other.
K-12 Schools | Apr 18, 2023
ASHRAE offers indoor air quality guide for schools
The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) has released a guide for educators, administrators, and school districts on indoor air quality. The guide can be used as a tool to discuss options to improve indoor air quality based on existing HVAC equipment, regional objectives, and available funding.
Data Centers | Apr 14, 2023
JLL's data center outlook: Cloud computing, AI driving exponential growth for data center industry
According to JLL’s new Global Data Center Outlook, the mass adoption of cloud computing and artificial intelligence (AI) is driving exponential growth for the data center industry, with hyperscale and edge computing leading investor demand.
Healthcare Facilities | Apr 13, 2023
Healthcare construction costs for 2023
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
Higher Education | Apr 13, 2023
Higher education construction costs for 2023
Fresh data from Gordian breaks down the average cost per square foot for a two-story college classroom building across 10 U.S. cities.
