DESIGN, ENGINEERING TECH, CONSTRUCTION
Newswire | May 17, 2023
draftPros and WT Group, two leading firms in the infrastructure engineering industry, announced a partnership aimed at combining draftPros' expertise in the telecommunications sector and WT Group's expertise in the Engineering and Architecture sector. This partnership will enhance their service offering to allow the companies to better address the ever-evolving needs of their customers and the industry as a whole.
For over 25 years, draftPros has provided telecommunications solutions that include turnkey engineering, permitting, and construction services, tailored to meet the unique needs of their clients. draftPros has a workforce of over 500 team members and a nationwide presence. Meanwhile, WT Group is an established civil engineering and architecture group, over 160 team members strong, that provides a broad range of engineering services including structural, electrical, mechanical, accessibility, land surveying and aquatic engineering, as well as construction project management in all 50 states and has been delivering service to its customers for over 50 years.
"We are thrilled to be partnering with WT Group to create new opportunities for growth in infrastructure engineering," said draftPros CEO Karel Gomez. "By joining forces, we can combine our respective strengths and leverage our networks to better serve our customers, expand our offerings, and drive growth for both companies. The other very exciting point is that, WT Group will now benefit from the Minority 'MBE' certification which draftPros holds as the majority interest partner making us one of the largest MBE certified Engineering firms in the nation."
Troy Triphahn, WT Group CEO added, "This partnership is an exciting opportunity to leverage and strengthen both our organizations to deliver turnkey solutions that add exceptional value to our customers. We look forward to working closely with draftPros to achieve our shared goals."
The partnership between draftPros and WT Group is a testament to the power of collaboration and the benefits that can be achieved when companies combine their strengths and expertise. The partnership will also include joint research and development initiatives, shared resources, expertise, and co-marketing efforts to promote their joint capabilities.
"We are confident that this collaboration will yield significant results for our customers and our companies," added Mr. Gomez.
Mr. Triphahn agreed, stating, "By working together, we can achieve greater success than we could individually. We look forward to the opportunities that this partnership will bring."
This partnership is a significant development in the infrastructure industry, and it will undoubtedly set the stage for new and innovative opportunities that benefit the industry and society as a whole.
ABOUT WT GROUP
Headquartered in Hoffman Estates, Illinois, the WT Group is a diversified engineering, design and consulting firm delivering the expertise of over 160 skilled professionals serving clients in all 50 states. The firm's engineering solutions include Aquatic, Civil, Electrical, Mechanical, OSP, Plumbing, Structural, Telecommunications, along with solutions in Energy, Land Surveying, Accessibility Consulting, Design and Program Management and Construction Management. For more information, visit www.wtgroup.com.
Headquartered in Miami, FL, draftPros provides accurate design-build and site acquisition for a wide range of telecommunication and renewable energy projects, serving commercial and governmental clients for more than 25 years. Founded in 1998, draftPros delivers the experience of more than 170 employees based in eight major cities across the U.S. Today, draftPros is one of the largest telecommunication engineering firms in the state of Florida and across the nation, providing best-in-class design-build installation of voice, data, electrical, fiber optic cabling, electric vehicle and solar infrastructure. For more information, visit www.draftpros.com.
SAFETY AND REGULATION, ENGINEERING TECH
Businesswire | May 16, 2023
Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced the purchase of Fisher Engineering, Inc. (“Fisher”), a professional services firm specializing in customized fire protection and life safety engineering for public and private customers. Founded in 2007, Fisher serves customers across the United States and internationally from offices in Atlanta, Baltimore, Charlotte, Detroit, Portland (ME), Phoenix and Virginia Beach. The firm provides an extensive array of technical services involving code consulting, commissioning, life safety survey and analysis, systems design, fire, smoke and egress modeling, performance-based design, litigation and forensic engineering, and third-party reviews. Fisher works with clients in a broad range of sectors including aviation, data centers, education, fueling, government, healthcare, hospitality, commercial and industrial real estate, oil and gas, student housing and technology hubs. Fisher’s workforce of twenty-four professionals, including Doug Fisher, the firm’s Principal Fire Protection Engineer and Co-Founder, will join Bowman in connection with the acquisition.
“We’ve been pursuing the acquisition of Fisher for quite some time,” said Gary Bowman, CEO of Bowman. “Fisher has built a great platform from which we can expand a national and international fire protection and life safety practice. Doug and the Fisher team possess a depth of expertise that complements the services we offer and aligns perfectly with our extensive customer base. Fisher’s experience as a prime contractor to the United States federal government will provide us a pathway to expand our reach to the single largest infrastructure consumer in our market. We’re all looking forward to realizing the inherent revenue synergies that will come from this acquisition.”
“Bowman has a reach that will enable our business to grow at a rate we could not otherwise achieve,” said Doug Fisher, Principal Fire Protection Engineer and Co-Founder of Fisher. “There’s a tremendous opportunity to leverage our collective experiences, customers, and cultures to create something far bigger and more valuable than what we have today. Fisher brings experience in federal contracting and prime government contracts that enhance Bowman’s ability to expand its public and federal penetration. Our staff is excited to become part of the Bowman team and to access the many professional development programs and career growth tracks Bowman offers their employees.”
The Company expects the Fisher acquisition to contribute approximately $5 million of annualized net service billing before revenue synergies and be immediately accretive. Financed with a combination of cash, seller notes, and equity, the acquisition falls within previously discussed target multiple and operating metric ranges. More detailed information on M&A activities, pipeline, and guidance updates will be 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 1,650 employees and more than 70 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 Fisher Engineering, Inc.
Fisher Engineering, Inc. was established in 2007 with the aim of offering clients a responsive, personal solution to fire protection engineering services. Fisher strives to provide customized, high-quality fire protection engineering services to clients across the country and abroad. Fisher employs an accredited team of registered fire protection engineers with advanced degrees in fire protection engineering. With offices and personnel in Atlanta, Baltimore, Charlotte, Detroit, Portland (ME), Phoenix, Southern California and Virginia Beach, Fisher is well positioned to access project sites throughout North America and internationally. For more information on Fisher Engineering, Inc., their projects, and services, visit www.feifire.com.
PRODUCTS, ENGINEERING TECH
PR Newswire | May 18, 2023
Ansys, the global leader and innovator of engineering simulation software, announced today that it has entered into a definitive agreement to acquire Diakopto. A provider of differentiated EDA solutions to accelerate integrated circuit (IC) development, Diakopto focuses on helping resolve critical issues caused by layout parasitics. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the second quarter of 2023. It is not expected to have a material impact on Ansys' consolidated financial statements in 2023.
Diakopto develops products that address the growing complexities and unintended effects of designing ICs in the modern era. Semiconductor designs increasingly employ advanced process node technologies, where interconnect parasitic effects limit the performance, reliability, and functionality of designs. Diakopto's market-leading products have been adopted by dozens of customers, including tier-one semiconductor companies, for a broad range of applications.
With the acquisition, Ansys will better enable design engineers to "shift left," and to detect interconnect parasitic problems early in the design cycle. Diakopto's products provide actionable analytics to guide designers to fix these problems – a capability that has not existed before. Through early identification and what-if analysis of parasitic problems, engineers can minimize costly iterations late in the design cycle – furthering cost and time savings.
"Diakopto's culture of strong engineering excellence and its innovative and highly differentiated products create a natural alignment with our organization. We are eager to welcome their team to the Ansys family," said Shane Emswiler, senior vice president of products at Ansys. "Incorporating Diakopto's unique methodology will support designers using Ansys to quickly and easily pinpoint the few elements, out of billions, causing bottlenecks. Designers can then optimize and debug designs more efficiently for enhanced IC performance and reliability, and accelerate time to market. The acquisition will complement Ansys' existing offerings for engineers at every level as Diakopto's intuitive and out-of-the-box experience doesn't require extensive training or complicated setups or configurations."
"Today's announcement brings together two like-minded companies on the forefront of innovation, and we are excited about becoming part of the Ansys family," said Maxim Ershov, CEO and CTO at Diakopto. "By joining forces with Ansys, we're confident that we can solve a broader set of problems in the chip design workflow together, strengthening offerings for our customers and driving more innovations in high-tech designs for data center, 5G, automotive, and mobile applications."
When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.