Bowman Consulting Group has announced the acquisition of Hole Montes, an engineering and infrastructure planning services company, for an undisclosed amount.
Hole Montes provides services from its two Florida offices in Naples and Fort Myers, US.
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Set up in 1966, Hole Montes provides comprehensive design, survey, GIS, and construction management expertise to customers that are focused on environmental engineering, transportation infrastructure, airport facilities, stormwater and wastewater systems, land planning, landscape architecture, and more.
It has a team of 65 professionals, all of whom will join Bowman post-acquisition.
Bowman CEO Gary Bowman said: “Hole Montes is a well-respected firm with a long-established presence in south-west Florida.
“They possess expertise and client relationships that complement ours and will benefit from our national platform. Most importantly, their culture aligns seamlessly with ours which will enable immediate work-sharing and collaboration. We expect to recognise meaningful revenue synergies over time from this combination while also optimising our collective utilisation based on similar customer engagements and core capabilities.”
Hole Montes CEO Bob Mulhere said: “Working with Bowman during the diligence and pre-integration period has given us tremendous comfort that this is the right next step for our leadership, our employees and our customers.
“Bowman’s professional development programmes and national platform provide growth and expansion opportunities for our people which makes this a very attractive opportunity for all of us at Hole Montes. We’re excited to accelerate our growth and to contribute our expertise to Bowman’s portfolio of services.”
The transaction is financed with a mixture of cash, seller notes, and equity.
According to Bowman, this deal is expected to be immediately accretive.
It anticipates the deal will initially contribute approximately $7m towards its annualised net-service billing.
