NV5 acquires CRS Survey to enhance surveying capabilities for infrastructure projects in North Carolina, boosting regional growth.
Quiver AI Summary
NV5 has announced the acquisition of CRS Survey PLLC, a land surveying and mapping company based in Charlotte, North Carolina, to enhance its operations in the state. This acquisition aims to strengthen NV5's capabilities in supporting transportation infrastructure projects, particularly in light of high demand for surveying services driven by technological advancements and a shortage of licensed surveyors. NV5, which has been providing infrastructure design and consulting services to North Carolina Department of Transportation for over two decades, expects the addition of CRS Survey to contribute to growth in surveying and infrastructure services. The deal, made with cash and stock, is projected to be immediately accretive to NV5’s earnings. CRS Survey specializes in topographic, boundary, and construction staking surveys and serves a range of public and private clients in the region.
Potential Positives
- NV5 has strengthened its market position in North Carolina by acquiring CRS Survey, enhancing its capabilities to support transportation clients and infrastructure projects in the region.
- The acquisition is expected to be immediately accretive to NV5’s earnings, indicating a positive financial impact and potential for growth.
- CRS Survey's expertise in advanced surveying technologies addresses the increasing demand and high margins in surveying services, positioning NV5 to capitalize on market opportunities.
- The merger is aligned with NV5's long-standing relationship with CRS Survey, suggesting a seamless integration and potential for accelerated growth in surveying and infrastructure services.
Potential Negatives
- Acquisition of CRS Survey could indicate reliance on external firms to maintain competitive service offerings in the face of a licensed surveyor shortage.
- Forward-looking statements in the release highlight potential risks tied to changes in demand and economic conditions, signaling uncertainties in future performance.
FAQ
What is the recent acquisition announced by NV5?
NV5 has acquired CRS Survey PLLC to enhance its surveying and mapping services in North Carolina.
How does CRS Survey support NV5's operations?
CRS Survey specializes in land surveying for transportation infrastructure, complementing NV5's services in North Carolina.
What are the benefits of the acquisition for NV5?
The acquisition will strengthen NV5's capabilities, support accelerated growth, and enhance surveying services across the state.
Where is CRS Survey located?
CRS Survey is headquartered in Charlotte, North Carolina, serving clients in nearby metropolitan areas.
How does NV5 plan to grow after this acquisition?
NV5 aims to leverage CRS Survey's expertise and technologies to accelerate organic growth in its Southeast operations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NVEE Insider Trading Activity
$NVEE insiders have traded $NVEE stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
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- RICHARD TONG (Exec VP and General Counsel) sold 20,000 shares for an estimated $401,670
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Full Release
HOLLYWOOD, Fla., March 21, 2025 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it has completed the acquisition of CRS Survey PLLC (CRS Survey), a provider of land surveying and mapping services for transportation infrastructure and land development to expand and support NV5’s existing operation in North Carolina. CRS Survey specializes in conventional and geospatial aerial surveys to support roadway and bridge maintenance and improvements.
“NV5 has been a leader in infrastructure design and testing, inspection, and certification (TIC) services for the North Carolina Department of Transportation (NCDOT) and municipalities across the state for over 20 years. The adoption of new surveying and geospatial technologies, along with a shortage of licensed surveyors, has driven high-demand and high-margins for surveying services. The addition of CRS Survey strengthens our capabilities to support transportation clients throughout the state and drive accelerated organic growth for our Southeast operations,” said Ben Heraud, CEO of NV5.
CRS Survey is headquartered in Charlotte, NC and serves public and private sector clients from the greater Charlotte metropolitan area to Greensboro and Winston-Salem. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“Having worked with CRS Survey on many projects, we are excited to welcome them to the NV5 team and anticipate accelerated growth in our surveying and infrastructure services in North Carolina,” said Alex Hockman, CEO of Infrastructure at NV5.
About CRS Survey
Headquartered in Charlotte, CRS Survey’s technical experts provide topographic surveys, boundary surveys, and construction staking services for infrastructure improvements and land development throughout South-Central North Carolina. CRS Survey’s extensive expertise, licensed professionals, and advanced geospatial and survey technologies deliver precise and dependable data to support successful developments that meet all state and local regulations. For more information about CRS Survey, visit
https://www.crssurveypllc.com
.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at
www.NV5.com
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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.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email:
[email protected]
Source: NV5 Global, Inc.