Benzinga | Feb 22, 2021 08:06AM EST

NV5 Acquires TerraTech Engineers; Terms Not Disclosed

HOLLYWOOD, Fla., Feb. 22, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ:NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that it has acquired TerraTech Engineers, Inc. ("TerraTech"), a geotechnical engineering, environmental consulting, and materials testing company headquartered in North Carolina. TerraTech's 50 employees serve state and local governments and private clients in North Carolina, South Carolina, and Georgia. NV5 has a proven working relationship with TerraTech and has completed a number of projects with the TerraTech team in the Southeast. TerraTech's founder and management team will continue with NV5 after the acquisition. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.



"The addition of TerraTech strengthens our environmental, geotechnical, and testing capabilities in the growing Southeast market and will support our infrastructure operations throughout the region. TerraTech's strong management team, solid backlog, and impressive financial performance make it a good fit for the NV5 organization, and we are pleased to have them on board," said Dickerson Wright, PE, Chairman and CEO of NV5.

"Having worked with NV5 for many years, all of us at TerraTech are excited to join the NV5 organization and deliver an expanded service portfolio and technical capabilities to our valued clients," said Erwin Williams, PE, President of TerraTech Engineers. "We also look forward to delivering our geotechnical, environmental, and materials testing solutions to support NV5's existing clients throughout the East Coast."