NV5 Buys Structural Engineering Consulting Firm Bromley Cook For Undisclosed Sum

NV5 Global Inc (NASDAQ:NVEE) has acquired Bromley Cook Engineering, a structural engineering consulting firm doing business in South Florida and the Islands for over 28 years. The financial terms were not disclosed.
Headquartered in Fort Lauderdale, Bromley Cook specializes in the restoration of concrete and structural building components, witness services for construction litigation, and the design of resilient mission-critical facilities intended to remain fully serviceable after a major hurricane.
The company expects the acquisition to be immediately accretive to its earnings.
"Florida's wind, heat, humidity, and hurricane exposure create challenging conditions for the built environment, and facility owners rely on specialized structural engineering to design and preserve resilient buildings," said Dickerson Wright, Chairman and CEO of NV5.
NV5 financed the deal with a combination of cash and stock. It held $54.2 million in cash and equivalents as of Oct 1, 2022.
Price Action: NVEE shares are trading higher by 4.17% at $135.58 on the last check Tuesday.

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