NV5 expands North Carolina operations with CRS Survey buy

HOLLYWOOD, Fla. - NV5 (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions with a market capitalization of $1.23 billion, has announced the completion of its acquisition of CRS Survey PLLC, a North Carolina-based land surveying and mapping service provider. This move aims to bolster NV5’s existing operations and address the increasing demand for surveying services in the state. According to InvestingPro data, NV5 maintains impressive gross profit margins of 51.34% and has demonstrated solid revenue growth of 9.81% over the last twelve months.

CRS Survey specializes in both conventional and geospatial aerial surveys, primarily supporting roadway and bridge maintenance and improvements. With over two decades of service to the North Carolina Department of Transportation (NCDOT) and various municipalities, NV5 has established itself as a leader in infrastructure design and testing, inspection, and certification (TIC) services.

The acquisition, executed with a mixture of cash and stock, is expected to be immediately accretive to NV5’s earnings. NV5’s CEO, Ben Heraud, expressed confidence that the integration of CRS Survey will enhance the company’s capabilities to support transportation clients and drive accelerated organic growth for its Southeast operations. InvestingPro analysis suggests the company is currently undervalued, with 8 additional exclusive insights available to subscribers, including detailed financial health metrics and growth projections.

CRS Survey operates from its headquarters in Charlotte, NC, extending its services to the greater Charlotte metropolitan area and beyond, including Greensboro and Winston-Salem. The company’s technical experts provide an array of services such as topographic surveys, boundary surveys, and construction staking services. Their advanced geospatial and survey technologies ensure precise and reliable data, facilitating successful developments in compliance with state and local regulations.

NV5’s acquisition of CRS Survey is not only a strategic expansion of its service offerings but also a response to the high demand and high margins in the surveying services sector, exacerbated by a shortage of licensed surveyors and the adoption of new technologies.

Alex Hockman, CEO of Infrastructure at NV5, noted the company’s history of collaboration with CRS Survey and anticipates that this acquisition will lead to accelerated growth in surveying and infrastructure services within North Carolina.

Based on a press release statement, this acquisition represents NV5’s continued commitment to expanding its footprint and enhancing its service capabilities in key markets. NV5 Global, Inc. (NASDAQ: NVEE) operates from over 100 offices nationwide and internationally, providing a wide range of services across multiple business verticals. The company maintains a healthy financial position with a current ratio of 1.95, indicating strong liquidity. For comprehensive analysis and detailed insights about NV5’s financial health and growth prospects, investors can access the full Pro Research Report available on InvestingPro, which provides in-depth analysis of this and 1,400+ other US stocks.

In other recent news, NV5 Global Inc. reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations, with an EPS of $0.28 compared to the forecasted $0.30. However, the company exceeded revenue expectations, posting $246.52 million against the anticipated $243.82 million. NV5 also announced the acquisition of Herman Cx, a firm specializing in commissioning services for data centers, which is expected to be immediately accretive to NV5’s earnings. Additionally, NV5 secured $18 million in contracts for data center design and commissioning services across the United States and Asia, further solidifying its presence in the rapidly growing data center industry. The company also secured a $5 million contract from the Florida Department of Transportation to provide geotechnical engineering and construction materials testing services for the Florida Turnpike. NV5’s strategic focus on data centers and geospatial services is highlighted by their aim for significant growth in these sectors. Analyst firms, such as William Blair, have noted NV5’s strong backlog, which accounts for 88% of its low-end 2025 revenue guidance. These recent developments underscore NV5’s ongoing strategy to enhance its service offerings and strengthen its market position.

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