On May 11, Bowman Consulting Group Ltd marked the one-year anniversary of its initial public offering, a year defined by tremendous growth through acquisitions, service offerings and an expanded customer base. In fact, within the course of just one year, the engineering services firm based in Reston, VA has acquired nine engineering companies and remains on the hunt for more strategic opportunities.
The acquired companies were:
- McFarland-Dyer & Associates headquartered in the greater Atlanta area
- Triangle Site Design headquartered in Raleigh, NC
- PCD Engineering, Inc. headquartered in Denver, CO
- BTM Engineering, Inc. headquartered in Louisville, KY
- Terra Associates, Inc. headquartered in Houston, TX
- 1519 Surveying, LLC headquartered in Waco, TX
- Kibart, Inc. headquartered in Towson, MD
- Perry Engineering LLC headquartered in Tucson, AZ
- McMahon Associates, Inc. headquartered in Fort Washington, PA
The acquisitions were financed with a combination of cash, seller financing, and stock, and they have contributed approximately $60 million in annualized net service billing.
By procuring these firms, Bowman significantly enlarged its national footprint and strengthened many of its core services including civil engineering consulting, land surveying, building and MEP services, aerial imaging, GIS mapping, 3-D laser scanning, traffic and transportation planning, water-wastewater solutions, cellular infrastructure design, landscape and irrigation systems, sustainable design and integrated green building solutions.
For the year ended Dec. 31, 2021, Bowman reported gross revenue of $150 million, up 23% year-over-year. Its forecast for total 2022 net service billing is $170M-$185M.
Gary Bowman, PE, is the founder and CEO of Bowman. A civil engineer and entrepreneur with 40 years of experience, he has led the firm’s growth and evolution from its 1995 launch as a five-person local civil engineering company to its current status as a 1,000+ person multi-disciplinary professional services firm operating out of 40 locations across the United States.