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Bowman Acquires San Diego-Based Project Design Consultants

Bowman Consulting Group Ltd (NASDAQ:BWMN) has acquired Project Design Consultants (PDC). Deal terms were not disclosed. San Diego, California-based PDC provides…
byAkanksha Bakshi
July 18, 2022
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  • Bowman Consulting Group Ltd (NASDAQ: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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