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Benzinga
Benzinga
Business
Akanksha Bakshi

NV5 Acquires Global Realty Services For Undisclosed Sum

  • NV5 Global Inc (NASDAQ:NVEE) has acquired Global Realty Services Group LLC (GRS) in an undisclosed all-cash transaction.
  • GRS delivers real estate due diligence services for commercial and industrial real estate transactions.
  • The company expects the acquisition to be immediately accretive to its earnings.
  • NV5 expects the addition of GRS's 154 full-time equivalent personnel, client list, and attractive end markets to help to drive additional growth.
  • "The addition of GRS to our existing real estate transaction services makes us the preeminent provider in the high-growth, high-margin real estate due diligence market," said Dickerson Wright, PE, Chairman & CEO of NV5.
  • The company held cash and cash equivalents of $121.39 million as of October 2, 2021.
  • Price Action: NVEE shares traded higher by 1.30% at $132.69 on the last check Thursday.
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