Bowman Consulting Group Acquires Moore Consulting Engineers Firm

(RTTNews) - Wednesday, Bowman Consulting Group Ltd. (BWMN) announced its acquisition of Moore Consulting Engineers, an engineering firm located in Shamong, New Jersey.

Moore Consulting Engineers offers a wide range of mechanical, electrical, plumbing, and fire protection engineering services across the United States.

Bowman Consulting stated that the acquisition aligns with previously established target multiples and operating metric ranges, and was funded through a combination of cash, seller notes, and equity.

The company anticipates that the acquisition will generate an annualized net service billing run rate of around $4 million and will have an immediate positive impact on its operations.