Bowman acquires Ga., Fla. engineering firms
Fisher, Hole Montes bring total purchases to 20 since IPO
Updated May 18
Reston-based engineering services firm Bowman Consulting Group Ltd. completed two acquisitions early this week, its 19th and 20th purchases since going public in May 2021.
The company announced Monday it had acquired Georgia-based Fisher Engineering Inc. and followed it with a Wednesday announcement it had acquired Florida-based civil engineering firm Hole Montes Inc.
Financial details of the transactions were not disclosed, but Bowman financed the deals with a combination of cash, seller notes and equity, according to news releases.
Founded in 2007, Fisher specializes in fire protection and life safety engineering. Its services include code consulting, systems design and life safety survey and analysis. Based near Atlanta in Johns Creek, Georgia, the firm also has offices in Arizona, Maine, Maryland, Michigan, North Carolina and Virginia Beach.
“We’ve been pursuing the acquisition of Fisher for quite some time,” Bowman CEO Gary Bowman said in a statement. “Fisher has built a great platform from which we can expand a national and international fire protection and life safety practice. … Fisher’s experience as a prime contractor to the United States federal government will provide us a pathway to expand our reach to the single largest infrastructure consumer in our market.”
Fisher’s 24 employees will join Bowman.
“Bowman has a reach that will enable our business to grow at a rate we could not otherwise achieve,” Doug Fisher, Fisher’s co-founder and principal of fire engineering, said in a statement. “There’s a tremendous opportunity to leverage our collective experiences, customers and cultures to create something far bigger and more valuable than what we have today.”
Bowman expects the acquisition to contribute approximately $5 million in annual net service billing.
The second announced purchase, Hole Montes, offers infrastructure planning services, including survey, geographic information system (GIS) and construction management services. Founded in 1966, the company has an office in Naples, Florida, and Fort Myers, Florida.
“Hole Montes is a well-respected firm with a long-established presence in Southwest Florida,” Bowman CEO Gary Bowman said in a statement. “They possess expertise and client relationships that complement ours and will benefit from our national platform.”
Hole Montes’ 65 employees will join Bowman.
“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,” Hole Montes CEO Bob Mulhere said in a statement. ”We’re excited to accelerate our growth and to contribute our expertise to Bowman’s portfolio of services.”
Bowman expects the acquisition to initially contribute approximately $7 million in annual net service billing.
Bowman has more than 1,700 employees in more than 70 offices across the country and provides planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services. The company went public in May 2021 and has acquired several companies across the country as it continues to look for strategic growth opportunities. The company reported $261.7 million in 2022 revenue.