Bowman Acquires San Diego-Based Project Design Consultants

Bowman Consulting Group Ltd BWMN has acquired Project Design Consultants (PDC). Deal terms were not disclosed.
San Diego, California-based PDC provides civil engineering, surveying, planning, and landscape architecture to various public and private clients throughout Southern California. PDC has 65 employees.
Under the leadership of CEO Greg Shields, PDC provides engineering services that manage change and add value to infrastructure projects.
BWMN expects the PDC acquisition to initially contribute ~$14 million of annualized net service billing and be immediately accretive.
The company financed this acquisition with a combination of cash and notes.
BWMN held cash and equivalents of $34.94 million as of March 31, 2022.
Price Action: BWMN shares are trading higher by 1.53% at $11 on the last check Monday.

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