NV5 Expands Energy Efficiency Consulting Capabilities With Acquisition Of Optimal Energy

NV5 Global Inc NVEE to acquire Optimal Energy, Inc. for an undisclosed sum, with a close date before December 31.
Optimal is an energy efficiency firm providing a full range of consulting services to government agencies, utilities, regulatory bodies, and state energy advisory councils. It advises state energy efficiency advisory councils on program planning, cost-benefit analysis, and strategic guidance.
The transaction will be a combination of cash and stock and will be immediately accretive to NV5's earnings.
The company held cash and equivalents of $121.39 million as of October 2, 2021.
Price Action: NVEE shares closed higher by 1.83% at $137.75 on Wednesday.