Bowman Consulting acquires assets of Sierra Overhead Analytics

Bowman Consulting (BWMN) Group acquired the assets of California-based Sierra Overhead Analytics and its technology affiliate ORCaS, two companies under common control. The acquisition expands Bowman’s energy practice and extends its digital services portfolio. SOA is an engineering firm providing technology-centric civil design, precision mapping and hydrology services to a wide range of energy and general infrastructure customers. ORCaS provides proprietary tools for SOA that enable the delivery of specialized design automation, location optimization and hydrological studies to its clients, who include data centers and energy developers and operators. The acquisition strengthens Bowman’s capabilities in high-growth, high-value markets such as data center development, climate resiliency, utilities, power and alternative energy, while expanding its digital services and delivery platform. Consistent with Bowman’s current business model, the acquired tools will be available as proprietary, value-add service enhancements and efficiency enablers to employees and customers exclusively. Financed with a combination of cash, seller notes and a convertible note, the acquisition conforms with previously discussed target multiples and operating metrics. Bowman anticipates the acquisition will initially operate at a net service billing run rate of approximately $2.2less than and be immediately accretive. More detailed information on M&A activities, pipeline and guidance updates are provided in connection with quarterly and annual communications.