Design, Engineering Tech

Bowman Awarded Multi-Year Design Engineering Service Assignment with Peoples Gas

Bowman Awarded Multi-Year Design Engineering Service Assignment with Peoples Gas

Bowman Consulting Group Ltd. (the “Company” or “Bowman”)  announced the firm was selected for a multi-year assignment to provide design engineering services for the Peoples Gas, Light and Coke Company (PGL) Safety Modernization Program (SMP) in Chicago. Bowman will provide a variety of engineering services for gas main design and installation, 3rd party utility plotting, field verification, line of lay walks, structural analysis, bridge support, survey, permitting and construction. The three neighborhood projects awarded to Bowman under the SMP include more than 100 miles of new mainline installation and nearly 70 miles of existing pipeline retirement. Prior to this award, Bowman has worked with PGL on more than 100 miles of new gas line installations.

“Bowman is well-established in the public utilities sector, and we are committed to increasing the contribution of this market to our overall revenue,” said Gary Bowman, Chairman and CEO of Bowman. “During the course of our long-standing relationship with Peoples Gas we have consistently delivered high-quality, cost-effective, and on-time solutions which is a primary reason they continue to engage us as new challenges emerge. This new multi-year, multi-million-dollar assignment evidences their trust in our ability to help them deliver on their commitment to provide safe, reliable, and environmentally sustainable access to natural gas in more communities across Chicago. We appreciate our relationship with Peoples Gas and look forward to it continuing well into the future.”

About Bowman Consulting Group Ltd. (Bowman)

Bowman Consulting Group Ltd. (Bowman), Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment. With 1,650 employees and 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. For more information, visit bowman.com

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Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

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