Benzinga | Aug 24, 2021 10:57AM EDT

NV5 Acquires Sage Renewable Energy Consulting For Undisclosed Sum

* NV5 Global Inc (NASDAQ:NVEE) has acquired Sage Renewable Energy Consulting, Inc., a provider of sustainable energy planning and project management services, in an undisclosed cash and stock deal.

* NV5 Global expects the deal to be immediately accretive to its earnings.

* San Francisco Bay Area-based Sage operates nationwide and expands NV5's environmental, social, and governance (ESG) service portfolio.

* NV5 Global held cash and cash equivalents of $113.02 million as of July 3, 2021.

* "Clean energy continues to grow as a percentage of NV5's revenue. 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," commented Dickerson Wright, PE, Chairman, and CEO of NV5.

* Price Action: NVEE shares traded higher by 0.68% at $101.50 on the last check Tuesday.