ENGINEERING TECH
Businesswire | April 17, 2023
H.I.G. Capital, a leading global alternative investment firm with $55 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Tower Engineering Professionals, Inc. (“TEP” or the “Company”), a leading full-service provider of engineering and maintenance services to tower, mobile network, and other telecom infrastructure customers.
Headquartered in Raleigh, NC, TEP is one of the largest wireless and wireline engineering and infrastructure services providers to tower and telecom customers. The Company’s offering includes inspection and mapping services, structural and civil engineering, fiber engineering and maintenance, project and construction management, and site acquisition and survey services. TEP has locations throughout the United States and Canada.
Andy Haldane, Chief Executive Officer of TEP commented, “We are excited to enter into this new chapter of growth with H.I.G. TEP is one of the most experienced and successful telecom-focused engineering firms, with a turnkey offering that has resulted in strong growth since the Company’s inception. We look forward to partnering with H.I.G., who brings significant experience and resources in both the infrastructure services and telecom sectors, and continuing to provide industry leading customer service.”
Miriam Rafiqi, Managing Director at H.I.G. Infrastructure, added, “We look forward to partnering with Andy and his exceptional management team. TEP is a leading provider of telecom services, playing a critical role in helping infrastructure owners and connectivity providers maintain and expand their footprints.”
Harris Williams acted as financial advisor and Ropes & Gray LLP served as legal counsel to H.I.G. Houlihan Lokey acted as financial advisor and Katten Muchin Rosenman LLP served as legal counsel to TEP.
About Tower Engineering Professionals
Founded in 1997, Tower Engineering Professionals (“TEP”) is one of the largest, most trusted, multi-disciplined engineering services firms focused on the telecommunications industry, completing over 100,000 projects annually. TEP has expanded beyond its Raleigh, NC, headquarters to 35+ locations across North America.
Underpinned by a deep focus on safety and training, TEP provides a full suite of turnkey solutions, including structural engineering, inspection and mapping services, civil engineering, land surveying, environmental services, geotechnical engineering, material testing, and construction, as well as plumbing, mechanical, and electrical engineering services for the telecommunications, utility, and renewable energy industries.
Most TEP employees are civil, structural, or geotechnical engineers serving wireless, wireline, and tower customers. Engineering News-Record (ENR) consistently places TEP in the top 3 design firms by sector year after year. TEP has a leading national footprint, maintaining engineering and contractor licenses in all 50 states, the majority of Canadian provinces, and other international locations.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $55 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the USA, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
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ENGINEERING TECH, CONSTRUCTION
Businesswire | June 06, 2023
Bowman Consulting Group Ltd., today announced the acquisition of MTX Surveying, Inc. a geospatial, land survey and project management company based in Marshall, Texas. Founded by Shane Nafe and Austin Holland in 2016, the firm has grown rapidly to a workforce of over 60 accredited professionals, technicians, and support staff serving clients in Texas, Louisiana, and New Mexico. Today, MTX provides full-service consulting, project management, surveying, mapping, and permitting services for clients working in oil and gas, energy and renewables, utility services, and land development. The MTX staff will all become Bowman employees in connection with the acquisition.
“Shane and Austin have built an exciting company,” said Gary Bowman, CEO of Bowman. “Their focus on oil and gas, energy, and renewables projects will help to accelerate our goal of increasing the contribution of power and utility-oriented assignments within our revenue mix. Their experience with aerial mapping, data capture, hi-res orthometric imagery, and drone surveying complements other recent acquisitions and investments we have made in geospatial technologies and services.”
“We’re pleased to be joining Bowman and are excited about the opportunities this acquisition provides,” said Shane Nafe, President and Founding Partner of MTX Surveying. “Bowman has an expansive national platform of clients, assignments, and engineering professionals to which we can contribute immediately. We’re ready to get started adding value and growing our collective energy services and geospatial practice.”
Financed with a combination of cash, seller notes, and equity, the acquisition falls within previously discussed target multiple and operating metric ranges and is expected to be immediately accretive. The Company anticipates the acquisition will initially contribute approximately $9 million of annualized net service billing. More detailed information on M&A activities, pipeline, and guidance updates are provided in connection with scheduled quarterly and annual communications.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment. With over 1,700 employees and more than 75 offices throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
About MTX Surveying, Inc.
MTX Surveying is a result driven geospatial, survey and aerial mapping firm serving Texas, New Mexico, Louisiana, and other states across the United States. The company’s management team is experienced in the successful execution of projects across a wide range of industries including oil and gas, energy services, land development, municipal planning, and telecommunications. MTX has grown from two founding partners in 2016 to a team of multi-licensed professionals and experienced technicians. For more information on MTX Surveying, their projects, and services, visit https://www.mtxsurveying.com.
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ENGINEERING TECH
Prnewswire | March 28, 2023
ACL Digital today announced it has signed an original equipment manufacturer (OEM) agreement with SAP. ACL Digital's Workforce Scheduler, a cloud-based app, was built on SAP Business Technology Platform to deliver efficiency and workforce optimization benefits to customers.
A constraint-based planning engine, ACL Digital's Workforce Scheduler delivers an optimized employee experience. The user-friendly reporting tool helps planners achieve a balance between customer needs and employee preferences while considering constraints such as skills required and the number of people. The people's roster is applicable to IT services and the healthcare, manufacturing, hospitality, and aviation sectors.
"Our strategic partnership with SAP is long-term," said Ramandeep Singh, CEO of ACL Digital. "Our customers will benefit from our deep expertise of IT services with that of SAP technology."
Kumar Vaibhav Srivastava, Business head of ACL Digital, said, "The Workforce Scheduler uses complex AI algorithms to deliver a balanced roster."
About ACL Digital
ACL Digital, an ALTEN Group Company, is a digital product innovation and engineering leader. We help our clients design and build innovative products (AI, Cloud, and Mobile ready), content and commerce-driven platforms, and connected, converged digital experiences for the modern world through a design-led Digital Transformation framework.
Headquartered in Silicon Valley, ACL Digital is a leader in design-led digital experience, innovation, enterprise modernization, and product engineering services converging to Technology, Media & Telecom. The company has a workforce of 54,100+ spread across more than 30+ countries.
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