NV5 Global Reports Acquisition of Optimal Energy, Increasing Energy Efficiency Consulting Capabilities
Dec 30, 2021 By MarketDepth
NV5 Global, Inc. (NASDAQ: NVEE), a professional and technical engineering and consulting services provider reported Thursday that it is expected to acquire Optimal Energy, Inc. (Optimal) with a close date before December 31st. Optimal is an energy efficiency firm providing a full range of consulting services to government agencies, utilities, regulatory bodies, and state energy advisory councils. Optimal specializes in advising state energy efficiency advisory councils on program planning, cost-benefit analysis, and strategic guidance. The Company also assists utilities with integrating statewide and local energy efficiency mandates into their business models. The acquisition will be made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“NV5’s energy efficiency and clean energy business has driven strong organic growth, and Optimal is the fourth acquisition we have made in the sector. As energy efficiency continues to grow in importance in the government and utility markets, Optimal provides us with another specialized, high barrier to entry capability to differentiate NV5 and deliver value to our clients.”Dickerson Wright, PE, Chairman and CEO of NV5
With offices in Vermont and Rhode Island, Optimal has worked in nearly 40 U.S. states and seven Canadian provinces. Optimal was founded in 1996 and is a consultant for nine of the top ten states with utility and public purpose efficiency programs.
“NV5’s energy efficiency services for our federal government and private sector clients have grown rapidly in recent years, and we are excited to add these capabilities for state governments and utility clients.”Ben Heraud, COO of Energy Efficiency and Decarbonization at NV5