HOLLYWOOD, Fla., Feb. 07, 2018 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq:NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired CSA (M&E) Ltd., a leading provider of Mechanical, Electrical, and Plumbing (MEP) engineering and sustainability consulting services. With annual revenues approaching $5 million and offices in Hong Kong, Macau, Malaysia and the UAE, CSA serves private and public sector clients throughout Asia and the Middle East. 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, “NV5 has a long and successful history of teaming with CSA. NV5's Asia operation combined with CSA's 23 year history of success in the region enables pursuit of much larger projects and allows NV5 to provide engineering services seamlessly throughout this expanding market. The CSA acquisition is key to NV5's strategy of strengthening the platform, growing international revenue and diversifying both the client base and sector capabilities.”
Dwayne Miller, PE, President of the Buildings Technology and Science (BTS) Division of NV5 said, "We are thrilled to have CSA as part of our international platform as their team, clients and tenure in the region creates critical mass for pursuit of much larger scale Aviation, Healthcare and Government projects."
CSA's President and CEO Ivor Jarman said, "Joining NV5 provides incredible opportunities for significant increased revenue, expanded services and more capabilities to serve our long term clients in Hong Kong, the Middle East and Southeast Asia. We are extremely excited to be an integral part of NV5's international platform and look forward to the growth opportunities for our services, business and employees."
About CSA (M&E) Ltd.
Founded in Hong Kong in 1995, CSA has provided MEP and sustainability services for the retail, education, healthcare, industrial, corporate, hospitality and infrastructure market sectors. With a team of 60 professionals and a history of steady growth, CSA has opened successful offices in Hong Kong, Macau, Malaysia, Abu Dhabi and Dubai. CSA's long standing relationships facilitated migration of the business from Hong Kong and Macau to several countries in Southeast Asia and the Middle East. Following their clients and successful delivery of projects has been the key to sustained growth and ongoing success of the practice. To read more about CSA, 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 more than 100 locations nationwide and abroad in Macau and Hong Kong. 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.
Investor Relations Contact
NV5 Global, Inc.
Jenna Carrick
Corporate Affairs Manager
Tel: +1-916-641-9124
Email: ir@nv5.com