HOLLYWOOD, Fla., June 06, 2017 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired Richard D. Kimball Co., Inc. (“RDK”). Founded in 1897, RDK is an established leader in the provision of energy efficiency and MEP services. Based in Boston, and with approximately $33 million in annual revenues, RDK’s 185 employees operate out of five strategic office locations on the East Coast. The company was purchased with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
In addition to mechanical, electrical, plumbing (MEP) and fire protection services, RDK offers commissioning services, technology design services, and energy and sustainability services, including Whole Building Energy Modeling and ASHRAE Level Energy Audits, Green Building Certification, Energy Code Consulting, Carbon Emissions Management, and Renewable Energy Management.
RDK primarily serves commercial, healthcare, science and technology, education, government, and transportation clients. RDK anticipates continued growth across all sectors in Boston, New England, and the Southeast. The company recently won a contract to provide MEP services on the new GE headquarters in Boston. The project involved the overhaul of two historic buildings and the construction of a new 12-story building. Other clients include Fidelity Investments, Liberty Mutual, Takeda Pharmaceutical Company, Carolinas HealthCare System, Massachusetts General Hospital, USPS, and University of Massachusetts.
Dickerson Wright, PE, Chairman and CEO of NV5, said, “With the acquisition of RDK, NV5 is now one of the largest MEP engineering firms in the U.S. with immediate cross-selling opportunities within our existing network of 102 offices. RDK has a rapidly growing energy efficiency practice that has made the company a prevailing force in the design of energy saving applications throughout the Northeast. We believe that NV5 can help RDK expand these practices nationally, and that RDK’s highly experienced experts will be central to deepening our capabilities within our Energy vertical.”
RDK CEO Christopher Cummings, PE, LEED AP, said, “We are looking toward our future with NV5 with great optimism and we perceive a great geographic, strategic, and technical fit for both our clients and employees within our two companies. NV5 shares RDK’s priority of providing innovative solutions to our clients through practical ingenuity, efficiency, and quality engineering in every project.”
About RDK Engineers
RDK Engineers is an ENR-ranked leading provider of total building systems solutions, offering a full spectrum of mechanical, electrical, plumbing, fire protection, commissioning, technology design, and energy and sustainability engineering services. In 1980, RDK’s current management team joined the company and in 2008, RDK acquired its Charlotte and Durham offices to further expand the company’s market share in the commercial, healthcare, science and technology, education, government, and transportation sectors. To read more about RDK, see the company’s website.
About NV5
NV5 Global, Inc. (NASDAQ:NVEE) is a provider of professional and technical engineering and consulting solutions to 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 102 locations nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
Forward-Looking Statements
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 news 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.