Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0781
    -0.0013 (-0.12%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2624
    +0.0002 (+0.01%)
     
  • USD/JPY

    151.3640
    -0.0080 (-0.01%)
     
  • Bitcoin USD

    70,276.13
    -89.68 (-0.13%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Bowman Consulting Buys BTM Engineering For Undisclosed Sum

  • Bowman Consulting Group Ltd (NASDAQ: BWMN) has acquired the assets of BTM Engineering, Inc., a diversified professional services firm based in Louisville, Kentucky. Financial terms were not disclosed.

  • BTM offers various services, including civil and structural engineering, planning, land survey, 3-D scanning, landscape architecture, and cellular infrastructure design.

  • The company expects the acquisition to initially contribute ~$3 million of annual net service billing and be immediately accretive.

  • Bowman Consulting financed the deal with a combination of cash, seller financing, and stock. It held cash and equivalents of .55 million as of June 30, 2021.

  • The company expects to close the acquisition prior to its upcoming third-quarter earnings call in November.

  • "The economics of this acquisition are attractive relative to our communicated goals and objectives for M&A," Bruce Labovitz, Bowman's CFO.

  • Price Action: BWMN shares are trading higher by 0.07% at $14.01 on the last check Friday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement