Bowman Consulting Group Ltd & Triangle Site Design | October 04, 2021
Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), announced the acquisition of the assets of Triangle Site Design (“Triangle”) headquartered in Raleigh, NC. Triangle, founded in 2008 and led by its founder Matt Lowder, delivers civil engineering and land planning services to clients throughout the Research Triangle area of North Carolina.
“We are excited to welcome Matt and his team to Bowman,” said Gary Bowman, CEO of Bowman. “We’ve been looking for the right opportunity to establish a presence in Raleigh and Triangle is an ideal way to make that happen. Matt and his team will be key to helping expand our presence throughout the Carolinas. This acquisition aligns with our strategic initiatives for growth and expansion.”
“Bowman is an ideal fit for us,”. “The firm is the cultural fit that we were looking for and we share a passion for serving our clients. We appreciate the confidence Gary and his team have placed in us as their foothold in the Raleigh area. I am confident that there will be many synergies between our operations and Bowman’s throughout the Carolinas. Everyone at Triangle is excited about becoming part of the Bowman family.”
-Matt Lowder, founder of Triangle
The acquisition, which the Company expects to initially contribute approximately $2 million of annual net service billing and be immediately accretive, was financed with a combination of cash, seller financing, and stock.
“We’re pleased to be executing on our acquisition plans and deploying capital we raised in our IPO,“This is the first of several similarly sized acquisitions in our pipeline that we expect to close prior to our upcoming third quarter earnings call in November. We look forward to providing more details on our M&A activities at that time.”
-Bruce Labovitz, Bowman’s CFO
About Triangle Site Design
Founded in 2008, Triangle Site Design is a seasoned civil consulting and engineering firm that specializes in land planning and land development design. Headquartered in Raleigh, NC, Triangle partners with developers and retailers to deliver high-quality results while reducing cost and time through value engineering. More information on Triangle Site Design can be found at www.trianglesitedesign.com.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering innovative infrastructure solutions to customers who own, develop, and maintain the built environment. With 900 employees and more than 30 offices throughout the United Sates, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. On May 11, 2021, Bowman completed its $51.7 million initial public offering and began trading on the Nasdaq under the symbol BWMN. For more information, visit www.bowman.com.
PBC Today | October 08, 2020
HS2 is the first major infrastructure programme to adopt digital engineering, with BIM at its core, at the very earliest stages of the project to allow future benchmarking to be delivered over the entire lifecycle – and in real time. Head of digital engineering Dr Sonia Zahiroddiny explains how it works. Digital engineering within HS2 is an umbrella term used to describe the application of Computer Aided Design (CAD), Geographic Information System (GIS) and wider information modelling and management processes to enable a collaborative and efficient collection, sharing, integration and visualisation of engineering and asset data. HS2 is too big and too complex to be managed using traditional static and document-based ways of working because we will be creating and need to manage large amounts of data. It is vital that the project’s data is of a high quality, plus it needs to be accessible and can be visualised in the wider context of the programme to support better decision making. From its very earliest days, HS2 has been committed to utilising digital engineering, with BIM at its core. This is not only to fulfil our obligations as a publicly procured project but also to go beyond the government’s mandate to transform the way the industry has traditionally designed and constructed infrastructure projects. By doing so, we are following the example of manufacturing, aerospace and other advanced sectors that have used the latest trends in technology to revolutionise their ways of working.
PCA | April 12, 2021
Portland Cement Association (PCA) Market Intelligence Group's Senior Vice President and Chief Economist Ed Sullivan as of late introduced their yearly Spring concrete utilization figure, foreseeing an increment in concrete utilization for 2021 and 2022.
"Remarkably, U.S. cement consumption recorded 2% growth during 2020. It is remarkable because COVID-19 exerted a terrible toll on the economy. Consumers bunkered down; states enacted rigid lockdowns. Real GDP declined to a rate not matched since 1946 as the economy transitioned from war time to peace time," said Sullivan. "Nearly 9.5 million fewer jobs now exist compared to pre-COVID-19 levels. Many businesses did not survive the threat. And yet through all of this, cement consumption grew."
Sullivan noted while significant tempests brought about a frail 2021 beginning, almost certainly, concrete utilization development will coordinate or surpass 2020's exhibition. Record low home loan rates have provoked solid additions in 2020 single family development. The low rates are required to stay set up through 2021, bringing about additional solid interest for concrete utilization. Nonresidential decays are required to proceed with this year and next, however the drag on by and large development is relied upon to reduce. Furthermore, as oil costs rise, oil well concrete will increment too.