NV5 Acquires Celtic Energy, Strengthens Energy Services Platform
HOLLYWOOD, Fla., Jan. 02, 2019 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq: NVEE) (“NV5” or the “Company”), a professional engineering and consulting solutions provider, announced today that it has acquired Celtic Energy, Inc. (Celtic Energy), a nationally recognized energy consulting firm that specializes in energy project management and oversight. As one of the top owner’s representative firms in the country, Celtic Energy has provided oversight on more than $2 billion in energy projects in 35 states throughout the U.S. and abroad. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
Dickerson Wright, PE, Chairman and CEO of NV5 said, “This tuck-in acquisition will support our existing energy efficiency company, Energenz, as well as fuel the growth of Energenz’s energy efficiency and subscription-based revenues with the introduction of Celtic Energy’s new client mix including federal, state and local governmental agencies, healthcare providers, educational institutions and large corporate property owners. The acquisition of Celtic Energy enables NV5 to secure additional energy efficiency program capabilities that were recently mandated for investor-owned gas and electric companies in California.”
Chris Halpin, PE, President of Celtic Energy said, “Celtic Energy has become one of the top energy consulting firms in the nation. We are thrilled to become part of the NV5 team and begin employing our highly experienced and innovative staff to serve NV5’s extensive client base.”
About Celtic Energy
Celtic Energy was founded in 2000 with the objective of helping public agencies, institutions, and private firms reduce their energy use and mitigate environmental impact while addressing the many chronic issues faced by owners. Celtic Energy’s experienced team of advisors has served as project facilitators on federal energy projects and as a third party owner’s representative on a multitude of state, municipal, school, university, medical facility, commercial and industrial projects. The firm has special expertise in the provision of Energy Savings Performance Contract (ESPC) oversight. View Celtic Energy’s website for more information.
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #45 in the Engineering News Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations nationwide and abroad in Macau, Hong Kong, and the UAE. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this press release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Contact NV5 Global, Inc. Jenna CarrickInvestor Relations ManagerTel: +1-916-641-9124Email: email@example.com