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Benzinga
Benzinga
Business
Akanksha Bakshi

NV5 Expands Energy Efficiency Consulting Capabilities With Acquisition Of Optimal Energy

  • NV5 Global Inc (NASDAQ:NVEE) to acquire Optimal Energy, Inc. for an undisclosed sum, with a close date before December 31.
  • Optimal is an energy efficiency firm providing a full range of consulting services to government agencies, utilities, regulatory bodies, and state energy advisory councils. It advises state energy efficiency advisory councils on program planning, cost-benefit analysis, and strategic guidance.
  • The transaction will be a combination of cash and stock and will be immediately accretive to NV5's earnings.
  • The company held cash and equivalents of $121.39 million as of October 2, 2021.
  • Price Action: NVEE shares closed higher by 1.83% at $137.75 on Wednesday.
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