Bowman Consulting (BWMN) Group announced it has acquired Lazen Power Engineering, a Florida-based power engineering firm specializing in the design and construction oversight of high-voltage transmission line infrastructure. By acquiring Lazen, Bowman establishes a foundation from which it can immediately compete in the fast-growing HVTL segment of the power industry. Financed with a combination of cash, seller notes and equity, 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 $2M and be immediately accretive.
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