NV5 Acquires River City Testing In All-Cash Deal

NV5 Global Inc NVEE has acquired River City Testing, Inc. (RCT), a provider of materials testing and special inspection services, in an all-cash transaction. Deal terms were not disclosed.
Founded in 2007, RCT is primarily focused on public education facilities in Southern California's Inland Empire Region and operates out of its materials testing laboratory in Riverside, California.
The acquisition strengthens NV5's testing, inspection, and consulting capabilities in the region and gives it a materials testing laboratory to support engineering operations in Riverside County and San Bernardino County.
NV5 expects the deal to be immediately accretive to its earnings. It held cash and equivalents of $47.98 million as of January 1, 2022.
Price Action: NVEE shares are trading higher by 0.57% at $121.72 on the last check Wednesday.