Bernhard Capital acquires Bowman Consulting Group
The all-cash deal values the national engineering services firm at approximately $1.0 billion, a 58% premium, and will take it private from the Nasdaq.
Bernhard Capital Partners is taking Bowman Consulting Group private in an all-cash deal valued at roughly $1.0 billion, bringing the publicly traded engineering services firm into its infrastructure-focused portfolio. Headquartered in Reston, Virginia, Bowman provides planning, engineering, geospatial, construction management, and environmental services to customers in regulated end markets, with over 2,500 employees across 100 U.S. offices.
Shareholders will receive $43.00, a 58% premium to Bowman's unaffected closing price on August 7. “What stands out about Bowman is its reputation for deep technical expertise, proven ability to efficiently execute complex projects, and the scale and diversity it has built across critical infrastructure markets,” said Mark Spender, Partner and Chief Investment Officer at Bernhard.
Kirkland & Ellis is serving as legal counsel to Bernhard.
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