NV5 to acquire Global Fire Protection Group, enhancing fire safety services across the U.S. and Canada.
Quiver AI Summary
NV5 has announced its acquisition of Global Fire Protection Group (Global FPG), a firm specializing in fire safety engineering, consulting, and inspection services, which is licensed to operate in all 50 U.S. states and eight Canadian provinces. The acquisition, made through a combination of cash and stock, is expected to enhance NV5’s earnings immediately. The Executive Chairman of NV5, Dickerson Wright, highlighted that fire protection services align well with NV5’s existing offerings in mechanical, electrical, plumbing, and technology design. Global FPG provides essential fire safety services for industries such as data centers, healthcare, and utilities, and its expertise will allow NV5 to expand into larger projects. Both NV5 and Global FPG executives expressed optimism about the growth opportunities created by this merger.
Potential Positives
- The acquisition of Global Fire Protection Group will be immediately accretive to NV5’s earnings, enhancing financial performance.
- Global FPG is an industry leader in fire protection services, allowing NV5 to strengthen its service offerings and market position.
- The acquisition enables NV5 to cross-sell fire protection engineering and consulting services with its existing services, promoting revenue growth.
- Global FPG specializes in high-demand sectors such as data centers, healthcare, and utilities, which are attractive markets for future projects.
Potential Negatives
- The acquisition may strain NV5's financial resources, as it involves a combination of cash and stock, which could impact short-term liquidity or financial performance.
- There is a risk associated with integrating Global FPG into NV5, which could disrupt existing operations or dilute company culture, leading to potential employee turnover.
- The mention of "forward-looking statements" highlights inherent uncertainties in the acquisition's success and growth potential, suggesting that NV5 may face challenges ahead that could affect future performance.
FAQ
What is NV5's recent acquisition?
NV5 has acquired Global Fire Protection Group, a provider of fire safety engineering and consulting services.
How will the acquisition affect NV5's earnings?
The acquisition will be immediately accretive to NV5's earnings, enhancing their financial performance.
What services does Global FPG provide?
Global FPG specializes in fire safety engineering, inspection, and consulting services across all U.S. states and eight Canadian provinces.
Why is fire protection consulting in demand?
Fire protection consulting is mandated for meeting regulatory requirements and mitigating risks to property and people.
How can customers learn more about Global FPG?
Customers can find additional information by visiting Global FPG's website at www.globalfpg.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NVEE Insider Trading Activity
$NVEE insiders have traded $NVEE stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $NVEE stock by insiders over the last 6 months:
- RICHARD TONG (Exec VP and General Counsel) sold 20,000 shares.
- TARDAN FRANCOIS sold 1,661 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NVEE Hedge Fund Activity
We have seen 90 institutional investors add shares of $NVEE stock to their portfolio, and 136 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CERCANO MANAGEMENT LLC removed 3,813,582 shares (-75.0%) from their portfolio in Q3 2024
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,662,780 shares (-100.0%) from their portfolio in Q3 2024
- VOYA INVESTMENT MANAGEMENT LLC removed 550,423 shares (-69.4%) from their portfolio in Q3 2024
- REDWOOD GROVE CAPITAL, LLC added 539,108 shares (+inf%) to their portfolio in Q3 2024
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 458,620 shares (-74.0%) from their portfolio in Q3 2024
- NINE TEN CAPITAL MANAGEMENT LLC removed 387,389 shares (-68.7%) from their portfolio in Q3 2024
- SUMMIT CREEK ADVISORS LLC removed 383,272 shares (-76.4%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HOLLYWOOD, Fla., Dec. 18, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it has entered an agreement to acquire Global Fire Protection Group (Global FPG), a provider of fire safety engineering, inspection, and consulting services. Founded in 2014, Global FPG is licensed to deliver fire services in all 50 U.S. states and eight Canadian provinces, and it has completed projects in 39 countries. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“Fire protection engineering and consulting is a high margin, recurring service that is a natural cross-sell with NV5’s existing mechanical, electrical, plumbing, and technology design services,” said Dickerson Wright, PE, Executive Chairman of NV5. “We are pleased to bring this service in-house with the acquisition of an industry leader in fire protection.”
Global FPG specializes in fire protection services for attractive end markets, including data centers, healthcare, utilities, and industrial sectors. The Company is one of few fire life safety companies offering suppression, detection, and compartmentation disciplines in active and passive fire protection.
“Fire protection consulting is in high demand due to the mandated nature of fire life safety in meeting regulatory requirements and also mitigating risks to property and people,” said Ben Heraud, CEO of NV5. “From data center and technology facilities to healthcare and higher education campuses, all of our buildings and technology clients need fire protection services, and we look forward to the contributions that Global FPG will make to our business domestically and internationally.”
“Joining NV5 allows Global FPG to pursue larger projects that were out of reach as a smaller entity, and we look forward to the growth and career opportunities that NV5 will provide,” said Patrick Tesche, President of Global Fire Protection Group.
About Global Fire Protection Group
Global Fire Protection Group, LLC provides customers with fire and life safety engineering, consulting, and design services worldwide. Global Fire Protection Group engineers have over a century of combined experience and are licensed in all U.S. states, Puerto Rico, Guam, and eight Canadian provinces. Global Fire Protection Group is a complete fire and life safety company providing active and passive fire protection services to clients worldwide. For additional information, please visit
www.globalfpg.com
.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at
www.NV5.com
. Also visit the Company on
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.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email:
ir@nv5.com
Source: NV5 Global, Inc.
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