Bowman today 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 (HVTL) infrastructure. By acquiring Lazen, Bowman establishes a foundation from which it can immediately compete in the fast-growing HVTL segment of the power industry.
Lazen’s extensive project experience and a strong portfolio of completed transmission line work enhances Bowman’s technical expertise in a critical category of utility design and maintenance. The skill sets added through the acquisition increase Bowman’s credentials in several areas of design specified by power customers as critical when awarding master service agreements and competitively bid projects. The acquisition also complements Bowman’s established advanced geospatial services for high-altitude transmission line surveying and orthoimaging, providing increased opportunity for greater wallet share from power customers.
“This acquisition accelerates our long-term strategy to build a comprehensive energy practice focused on generation, distribution, storage, delivery and maintenance of power-related infrastructure,” said Gary Bowman founder and CEO of Bowman. “The addition of Lazen and its team of highly skilled professionals immediately establishes our capability in overhead transmission line design and lays important groundwork for future growth of our energy practice. The platform complements several of our recent acquisitions including e3i Engineers, an acquisition which expanded our capabilities in data center and interior energy infrastructure design. We are committed to increasing the concentration of power services in our revenue mix by adding adjacent specialties that strengthen our ability to support the growing demand for greater capacity and stability across the US power grid.”
The addition of Lazen broadens Bowman’s platform across the data-to-grid continuum and complements recently acquired skills related to internal and external design engineering for AI-optimized, high-density data centers and resilient onsite energy systems. This combination of integrated capability enhances Bowman’s ability to deliver solutions to utilities and power consumers alike at a time of rapidly rising demand for reliable, distributed and low-emissions energy.
“Joining Bowman gives our team the opportunity to be part of a larger platform while continuing to focus on the specialized needs of our clients,” said Lazen founder, Mohammed Issa. “The demand for growth in transmission capacity has never been greater. Utilities, data centers and renewable developers all require safe, efficient and scalable high-voltage networks to keep pace with growth and reliability demands. By combining Lazen’s technical expertise with Bowman’s multidisciplinary platform, we are better positioned than ever to help address this critical infrastructure challenge.”
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 $2.0 million and be immediately accretive. More detailed information on M&A activities, pipeline and guidance updates are provided in connection with quarterly and annual communications.
About Lazen Power Engineering, Inc.
Founded in 2014 and based in Orlando, Florida, Lazen Power Engineering specializes in overhead transmission line design and project management. The company has delivered projects for well-known regional utilities across the U.S., providing services including fire risk mitigation, greenfield design, reconductor upgrades, clearance improvements and asset inspections. Lazen is dedicated to delivering safe and reliable transmission solutions that advance grid hardening, resiliency and the modernization of critical power infrastructure.
Tags:FloridaM&ANewsPower & Utilities
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