Markets
PR Newswire | October 03, 2023
Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired Hubbard Paving & Grading, Inc., headquartered in Walhalla, South Carolina. The acquisition adds one hot-mix asphalt plant and related construction operations to CPI's South Carolina platform company, King Asphalt, Inc., and will expand its service market in the Upstate region.
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "The Upstate area of South Carolina continues to be one of the most dynamic and fastest-growing areas in the United States. We welcome the skilled team of professionals from Hubbard and look forward to serving the infrastructure needs of the greater Greenville metro area as a combined organization."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across six southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
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Engineering Tech
Business Wire | October 17, 2023
Bowman Consulting Group Ltd., a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment, today announced the acquisition of Dennis Corporation (“Dennis”), a civil engineering, surveying and construction management firm headquartered in Columbia, SC.
Supporting public and private sector clients, Dennis specializes in delivering general civil infrastructure planning and design; program and construction management and oversight; environmental and geotechnical services for traffic and transportation; intelligent transportation systems (ITS), aviation, water resources and public sector facilities.
With a rich history of client-focused services, sustainable engineering practices and forward-thinking solutions, the firm has a proven reputation of success. Established in 2005 by current CEO Dan Dennis, the firm has grown to become one the largest locally owned engineering, surveying and construction management firms in South Carolina. All 40 technical and administrative professionals will become Bowman employees in connection with the acquisition.
“Dennis Corporation embodies a culture of commitment to unparalleled client service, which aligns perfectly with our cultural values, making them a great fit for Bowman,” said Gary Bowman, chairman and CEO of Bowman. “Their focus on transportation, construction management and surveying complement recent acquisitions we’ve made, and their geographic footprint introduces us to an attractive growth market in a familiar region. We’re looking forward to getting Dan and his team onboard and integrated into our platform so we can start sharing work and growing our collective base of business through revenue synergies.”
“Becoming a Bowman company begins an exciting new chapter in our proud story,” said Dan Dennis, CEO of Dennis Corporation. “Our employees are looking forward to the suite of professional development platforms available at Bowman. We’re anxious to contribute to Bowman’s work-sharing mindset and we’re excited about the opportunities we will have to expand our service offerings and increase our exposure to clients and markets.”
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 operate at an annualized net service billing run rate of approximately $4.5 million. 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 a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment. With over 2,000 employees and more than 80 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.
About Dennis Corporation
Since 2005, Dennis Corporation has operated as an engineering, survey and construction management firm committed to innovative designs, sustainable solutions and high-quality services for clients in South Carolina. The firm employs highly trained and experienced personnel who utilize the latest equipment and software for design and construction management. The construction services division has all the necessary DOT, environmental, OSF and OSE certifications and equipment required to perform field inspections and testing. Managing projects throughout the state of South Carolina, the Dennis team understands the importance of completing projects within budget and ahead of schedule. For more information on Dennis Corporation, their projects and their services, visit www.denniscorporation.com.
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Engineering Tech
Business Wire | October 10, 2023
Atwell has acquired the operations of Summit Engineering Group, a civil engineering and land surveying firm headquartered in Heber City, Utah. This is Atwell’s first permanent office in Utah, adding to the company’s recent expansion in the western United States. Terms of the transaction were not disclosed.
Founded in 2001 by Brian Balls and Michael Johnston, Summit offers a wide variety of professional and technical services throughout Utah. Their employees have a broad range of construction experience, utilizing design software and data reporting methods that help ensure accuracy, construction feasibility, efficiency, and low construction costs.
“Atwell and Summit place a priority on getting it right the first time, which makes our services and company cultures an ideal fit,” said Brian Balls, Principal at Summit. “Similarly, both companies have strong reputations for expertise, experience, and responsiveness to their clients’ needs. The breadth of Atwell’s services will expand into Utah, providing greater opportunity for our clients.”
“The team at Summit is focused on providing clients with the highest standards of quality, value, and service,” said Jeff French, Vice President of Real Estate and Land Development for Atwell. “We look forward to working with the Summit team and leveraging their decades of experience within their community. We’re very excited to expand our national reach by bringing Atwell into Utah to provide greater service options for our clients.”
Atwell continues to expand its geographic footprint, service offerings, and capabilities through organic growth and strategic acquisitions. Summit is Atwell’s eighth acquisition over the past year. In the last two months, Atwell acquired Mead Gilman & Associates, a land surveying firm located in Woodinville, Washington, and Bay Engineering, a civil engineering, land surveying, and environmental services firm headquartered in Annapolis, Maryland.
About Atwell
Atwell, LLC is a national consulting, engineering, and construction services firm with more than 1,500 professionals located across the country. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, oil and gas, and infrastructure and transportation, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
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