- Bowman Consulting Group (BWMN, Financial) acquires e3i Engineers to enhance data center design and energy infrastructure capabilities.
- The acquisition brings expertise in advanced cooling technologies and adds $2.0 million in annualized net service billing.
- Financing involves a mix of cash, seller notes, and a convertible note.
Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services firm, has announced the strategic acquisition of e3i Engineers, a Boston-based firm specializing in data center design and energy infrastructure. This acquisition significantly bolsters Bowman's engineering capabilities in high-density and AI-enabled environments.
e3i Engineers boasts a remarkable portfolio, having designed over 3.2 million square feet of data center space. The firm's expertise in innovative cooling technologies, such as direct-to-chip cooling, positions Bowman to effectively address the evolving needs of AI computing and high-density infrastructures.
The deal is expected to contribute an annualized net service billing run rate of approximately $2.0 million. It is being financed through a combination of cash, seller notes, and a convertible note, aligning with Bowman's financial strategy and target metrics.
This acquisition is poised to not only enhance Bowman's technical capabilities but also create cross-selling opportunities by leveraging existing client relationships while venturing into the resilient, lower-carbon energy systems market. This move reinforces Bowman's commitment to offering comprehensive solutions in the high-growth sectors of data, digital, and distributed energy markets.
