Benzinga | Dec 30, 2021 09:21AM EST

NV5 Expands Energy Efficiency Consulting Capabilities With Acquisition Of Optimal Energy

* NV5 Global Inc (NASDAQ:NVEE) to acquire Optimal Energy, Inc. for an undisclosed sum, with a close date before December 31.

* Optimal is an energy efficiency firm providing a full range of consulting services to government agencies, utilities, regulatory bodies, and state energy advisory councils. It advises state energy efficiency advisory councils on program planning, cost-benefit analysis, and strategic guidance.

* The transaction will be a combination of cash and stock and will be immediately accretive to NV5's earnings.

* The company held cash and equivalents of $121.39 million as of October 2, 2021.

* Price Action: NVEE shares closed higher by 1.83% at $137.75 on Wednesday.