Bowman Consulting acquires Dennis Corporation, sees accretion

Bowman Consulting announced the acquisition of Dennis Corporation, a civil engineering, surveying and construction management firm headquartered in Columbia, South Carolina. Supporting public and private sector clients, Dennis specializes in delivering general civil infrastructure planning and design; program and construction management and oversight; environmental and geotechnical services for traffic and transportation; intelligent transportation systems, aviation, water resources and public sector facilities. Financed with a combination of cash, seller notes and equity, the acquisition falls within previously discussed target multiple and operating metric ranges and is expected to be immediately accretive. The company anticipates the acquisition will initially operate at an annualized net service billing run rate of approximately $4.5M.