HOLLYWOOD, FL--(Marketwired - June 27, 2016) - NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has launched a new initiative emphasizing both organic and M&A growth. NV5 has also announced enhancements to the management team to accommodate this growth while maintaining a flat vertical organization that empowers entrepreneurial leaders to grow their businesses.
Dickerson Wright, PE, Chairman and CEO of NV5, said, "We were a much smaller company in 2013 when we announced our goal to more than triple our revenues to $300 million by the end of 2016. We are on track to meet or exceed that goal by the end of the year. We are now raising the bar and challenging our management team. Alex Hockman, President and COO of NV5, will become President of Infrastructure in our new organization, overseeing construction quality assurance, energy compliance, civil program management and infrastructure engineering. Rob Costello, who joined us through our recent acquisition of Sebesta where he was CEO, will become President of Building, Energy, and Sciences (BES), which will include our environmental services practice."
Mr. Wright continued, "NV5's culture is based on growth -- growth for our clients, who benefit from the expansion of our service offerings -- growth for our employees, many of whom own our stock, and all of whom who benefit from the additional resources and industry experts that become part of our team through strategic acquisitions and organic growth -- and growth for our shareholders, who have invested in our mission to grow our operations organically and strategically above the industry standard. We have confidence in the new organization we are putting in place, led by seasoned operators who have decades of experience scaling large operations in these sectors, and we are looking forward to the future."
Alex Hockman, PE, President of Infrastructure at NV5, said, "It's exciting to be part of a growing company and this organizational enhancement ensures that we are structured to efficiently execute our strategic plan. We are fortunate to have a talented team and our growth continues to provide opportunities in technical and operational leadership roles."
Rob Costello, President of BES, said, "This new organization plan will allow us to provide strong leadership directly to our two main specialized units. Both are growing rapidly and will undoubtedly face challenges as we grow organically and integrate acquired operations."
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure, engineering and support services, energy, program management, and environmental solutions. The Company operates 58 offices in 25 states nationwide, and is headquartered in Hollywood, Florida. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This news 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) our ability to successfully execute our mergers and acquisitions strategy and the subsequent integration of new companies into our business; (b) changes in demand from the local and state government and private clients that we serve; (c) general economic conditions, nationally and globally, and their effect on the market for our services; (d) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (e) changes in laws, regulations, or policies; and (f) 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.