Bowman to buy UP Engineering, shares rise

Bowman Consulting

18/02/2025 16:09

** Shares of engineering services firm Bowman Consulting
Group  BWMN.O  up 1% at $22.71 
    ** Co to acquire Texas-based civil engineering and surveying
services firm UP Engineering
    ** Financial details of deal were not disclosed
    ** Bowman expects acquisition to initially operate at
annualized net service billing run rate of about $3 million and
be immediately accretive
    ** "This acquisition strengthens our market position,
enables us to capture new opportunities in a high-growth area
and helps deliver additional long-term value to our
stakeholders," says Bowman CEO Gary Bowman
    ** Including session's moves, shares were down 9.3% YTD
 
 

 (Reporting by Katha Kalia)
 ((Katha.Kalia@thomsonreuters.com))