Bowman Acquires Trudell Consulting Engineers In Burlington, Vermont; Company Anticipates The Acquisition Will Initially Operate At An Annualized Net Service Billing Run Rate Of ~$4.5M; Terms Of The Transaction Not Disclosed
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Bowman Consulting Group Ltd. (BWMN) has acquired Trudell Consulting Engineers (TCE) and its subsidiary, Vermont Underground Locators, expanding its engineering services into Vermont. The acquisition, financed through cash, seller notes, and equity, is expected to operate at an annualized net service billing run rate of approximately $4.5 million. This move is anticipated to be immediately accretive and aligns with Bowman's strategic growth plans in northern New England and Upstate New York.
February 05, 2024 | 1:03 pm
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Bowman Consulting Group Ltd. acquires TCE, aiming to extend its engineering services into Vermont with an expected annualized net service billing run rate of $4.5M.
The acquisition of TCE by Bowman is a strategic move to expand its market presence into Vermont, expected to be immediately accretive with a significant increase in service billing run rate. This expansion aligns with Bowman's growth strategy in northern New England and Upstate New York, indicating a positive outlook for the company's revenue and market position.
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