Bowman To Acquire Excellence Engineering

(RTTNews) - Bowman Consulting Group Ltd. (BWMN), an engineering services company, announced on Friday that it has entered into a definitive purchase agreement to acquire Excellence Engineering, LLC.

The company is going to finance the acquisition of the Tulsa, Oklahoma-based firm with a combination of cash, seller notes, and equity.

Bowman said it is expecting the acquisition to initially operate at an annualized net service billing run rate of around $4 million.

The deal is anticipated to close in early October.

On Thursday, shares of Bowman closed at $27.93, up 2.16% on Nasdaq.