Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 92

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 92
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 component of our growth plans. Since our initial public offering in May 2021 through December 31, 2024, we have successfully acquired thirty-four operating engineering and consulting companies and four non-operating companies from which we strictly acquired certain, state-specific licensing rights. Our acquisitions activities have added numerous capabilities, services, leadership and customers in addition to expanding our operations throughout the continental United States. Many of the senior leaders in our company today come from companies we acquired both before and after becoming a public company. We are regularly engaged in discussions with acquisition prospects. The discussions range in formality from an initial inquiry to a non-binding letter of intent. Not all prospective acquisitions materialize as completed transactions.

Recent Acquisitions

In 2024, we completed eight acquisitions, one of which closed after September 30, 2024. None of these recent acquisitions was individually or collectively in the aggregate significant under Rule 3-05 of Regulation S-X. The 2024 acquisitions are summarized below in order of acquisition. 

•TCE, Inc (“TCE”). On February 5, 2024, we acquired the business and operations of Trudell Consulting Engineers. TCE is a Willston, Vermont based professional services firm focused on civil engineering, landscape architecture, land surveying, utility locating and environmental services. The company works with private and public customers along with private developers, planning authorities, municipalities, renewable energy providers, natural resource excavators, hospitality and ski resort operators, property managers and retailers.

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•Speece Lewis Engineers, LLC (“Speece”). On February 20, 2024, we acquired the business and operations of Speece Lewis Engineers, LLC. Speece is a Lincoln, Nebraska based professional services firm specializing in transportation, bridge design, surveying and hydraulics. The company works with private and public customers along with natural resource districts; federal, state, county, and municipal governments; as well as private and commercial entities.

•Surdex Corporation (“Surdex”). On April 3, 2024, we acquired the business and operations of Surdex Corporation. Surdex is a St. Louis, Missouri based professional services firm specializing in geospatial and engineering, low-, medium- and high-altitude digital orthoimagery, advanced high-resolution LiDAR, intelligent digital mapping, 3D hydrography, and disaster mapping. Surdex develops geospatial mapping and digital orthoimagery that enables federal, state, and local governments to view