Benzinga | Aug 24, 2021 08:01AM EDT

NV5 Acquires Sage Renewable Energy Consulting; Terms Not Disclosed

NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ:NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has acquired Sage Renewable Energy Consulting, Inc. (Sage), a leader in comprehensive sustainable energy planning and project management services. Sage operates nationwide and expands NV5's growing environmental, social, and governance (ESG) service portfolio. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.



Founded in 2009, Sage has successfully managed over $2 billion in clean energy projects and negotiated dozens of successful power purchase agreements for clients in the public and private sectors.

"Clean energy continues to grow as a percentage of NV5's revenue," said Dickerson Wright, PE, Chairman and CEO of NV5. "Sage's expertise in the renewables, battery storage, microgrid, and electric vehicle planning space enhances our ESG capabilities and presents opportunities for cross-selling with our existing ESG services."

"Clean energy is a sector with high market growth potential, as evidenced by Sage's continued organic growth, and we are excited to add Sage's team and capabilities to our Energy Efficiency and Decarbonization group," said Ben Heraud, COO of Energy Efficiency and Decarbonization at NV5.

"This transaction will enable us to accelerate the expansion of our practice and offer NV5 clients expertise in developing new clean energy systems, electric vehicle fleets and infrastructure, and asset management," said Tom Willard, Principal at Sage.