Bowman Consulting purchases Infrastructure Engineers, sees accretion

Bowman Consulting announced the acquisition of California-based Advanced Applied Engineering, dba Infrastructure Engineers. Headquartered in Brea, California, the firm provides professional engineering, planning, environmental, geospatial, and municipal infrastructure services to cities and counties throughout Southern and Central California. Established in 1994, the firm has grown to a staff of over 80 administrative and technical professionals, all of whom will become Bowman employees in connection with the acquisition. 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 contribute approximately $10M of annualized net service billing.