NV5 Global, Inc. has acquired Geodynamics LLC (“Geodynamics”), a provider of sonar-based, deep-water geospatial solutions. Geodynamics’ clients include the National Oceanic and Atmospheric Administration (NOAA), the U.S. Army Corps of Engineers, the U.S. Navy, state and local agencies, and port and transportation authorities.
Geodynamics, headquartered in Morehead City, North Carolina, will operate within NV5’s Geospatial vertical, adding full-ocean depth hydrographic and geophysical surveying to NV5’s topographic and nearshore geospatial capabilities. The $42 million acquisition, which includes an earn out provision, was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“As the nation’s premiere provider of geospatial data solutions, we continue to pursue opportunities to expand our leading position in the geospatial market,” said Dickerson Wright, PE, Chairman and CEO of NV5. “The addition of Geodynamics gives NV5 an established presence in the oceanic geospatial sector to support projects related to offshore wind power, sea level rise, shoreline mapping, underwater habitat modeling, and nautical charting.”
“Geodynamics’ sonar-based geospatial capabilities, coupled with NV5’s existing nearshore and shallow-water riverine geospatial offerings, expands NV5 Geospatial’s marine solutions strategy and provides us with a competitive advantage for multi-solution, hydrographic surveying projects,” said Mark Abatto, President and COO of NV5 Geospatial.
“All of us at Geodynamics are excited about the expanded service offerings we can now provide our clients and growth opportunities available to our employees as a part of the NV5 organization,” said Sloan Freeman, PLS, Chief Executive Officer of Geodynamics.
