Bowman Expands In Gulf Coast Through Fabre Engineering Acquisition - Read More For Details - Bowman Consulting Group (NASDAQ:BWMN)

Bowman Consulting Group Ltd BWMN has purchased Fabre Engineering, Inc., a provider of civil engineering and land surveying in Florida, Alabama, and Mississippi. Financial terms were not disclosed.
Pensacola, Florida-based Fabre Engineering was founded in 1981 by Frank Fabre. It specializes in water, stormwater, wastewater solutions, airports, land use planning for private developers and municipal agencies, and broad-based geomatics and land surveying services.
"Frank and the extended Fabre team have a long history in the Gulf Coast," commented CEO Gary Bowman. "Our southeast region will no doubt benefit from the addition of Fabre's skilled workforce and diverse base of clients."
BWMN expects the acquisition to be immediately accretive and to initially contribute approximately $1.5 million of annualized net service billing.
BWMN financed the deal with cash and seller financing. It held cash and equivalents of $34.94 million as of March 31, 2022.
Price Action: BWMN shares are trading higher by 0.79% at $15.25 during the premarket session on Friday.