Bowman Consulting Group, Ltd. (“Bowman”), a provider of professional services to customers who own, develop, and maintain the built environment, has signed a Letter of Intent to acquire KTA, an engineering firm with core expertise in mechanical, electrical and plumbing engineering, commissioning, third-party plan review, and lighting design. Founded in 1989, KTA provides complete engineering and response solutions with 40 technical experts. The move supports Bowman’s continued growth and substantially broadens its scope of service offerings.
“KTA is our largest acquisition to date and this marks the launch of our initiative to accelerate growth by selective and intentional M&A,” said Gary Bowman, Chairman and CEO of Bowman. “The addition of the talented KTA professionals to our team positions Bowman as a comprehensive service provider to the renewable energy market which is a major focus of our growth and diversification strategy. Leveraging KTA’s experience and expertise with building systems will enhance the value that we add to our customers’ projects and result in considerable revenue synergies.”
KTA’s CEO and founding partner, Mark Koblos commented: “We are pleased to become part of Bowman, a growing company with a nationwide presence. The firm’s cultural values of growth and entrepreneurial spirit provide the match that we have been looking for to provide professional growth and advancement opportunities for our people.”
Randolph Thompson, president of KTA will continue to lead KTA’s current team of engineering and support professionals out of its Herndon, Virginia office. Koblos will join Bowman as Executive Vice President spearheading the firm’s MEP business development and national expansion strategy.
“We are excited to continue providing unparalleled service to our current clients while expanding the range of services that Bowman offers,” said Thompson. “This business combination will greatly enhance the breadth of service we provide to our clients.” The deal is structured as an asset purchase and Bowman expects this acquisition to be immediately accretive. The transaction is scheduled to close in early January.
Tags:M&A
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