NV5 Global, Inc.[Nasdaq: NVEE] reported that the firm has purchased TerraTech Engineers, Inc. TerraTech is a geotechnical engineering, ecological consulting, and materials testing organization settled in North Carolina.
TerraTech’s fifty workers serve state and local governments and private customers in North Carolina, South Carolina, and Georgia. NV5 has a proven working relationship with TerraTech and has finished various activities with the TerraTech group in the Southeast. TerraTech’s founder and management crew will proceed to work with NV5 after the purchase. Furthermore, The purchase was made with cash and stock consideration and will be rapidly accretive to NV5’s profit.
“The expansion of TerraTech fortifies our ecological, geotechnical, and testing capacities in the developing Southeast market. Moreover, The transaction will sustain our framework activities all through the district. TerraTech’s strong management group, robust overabundance, and noteworthy financial accomplishment make it a strong match for the NV5 enterprise. Additionally, we are eager for them to enter ur family,” said Dickerson Wright, Chairman, and CEO of NV5.
“Having worked with NV5 for a long time, we all at TerraTech are eager to become a part of the enterprise and convey an extended portfolio of services and specialized capacities to our esteemed customers,” said Erwin Williams, President of TerraTech. ” Furthermore, we anticipate conveying our geotechnical, environmental, and materials testing solutions to aid NV5’s current customers all across the East Coast.”