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Bowman Consulting Group Ltd. (NASDAQ:BWMN), a national engineering services and project management firm, today announced it has acquired the assets of California-based Sierra Overhead Analytics ("SOA") and its technology affiliate ORCaS, Inc., two companies under common control. The acquisition expands Bowman's energy practice and extends its digital services portfolio.
Financed with a combination of cash, seller notes and a convertible note, the acquisition conforms with previously discussed target multiples and operating metrics. Bowman anticipates the acquisition will initially operate at a net service billing run rate of approximately $2.2 million and be immediately accretive. More detailed information on M&A activities, pipeline and guidance updates are provided in connection with quarterly and annual communications.
Posted In: BWMN
