BUZZ-Bowman to buy UP Engineering, shares rise
ReutersFeb 18, 2025 4:09 PM
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
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