Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 77

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 77
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. Our target for acquisitions has to date focused on companies with annual net service revenue of between $3 million and $30 million, with the largest being $28 million. We intend to increase the size of our acquisition target in the future. Our disciplined acquisition objectives include earnings accretion, geographic and market diversification, scale, cross-selling and revenue synergy, technology advancement and talent acquisition.

Growing franchise in secular growth markets. Our growth initiatives are especially focused on markets that possess strong secular growth characteristics. We target growth opportunities related to renewable energy, energy transition, and energy efficiency activities; aging, failing and inadequate infrastructure in need of upgrade and replacement; economic vitality and attractive growth in geographic regions with both a critical mass of population and a growing workforce; and initiatives involving regulatory complexity that are supported by stable, long-term public sector funding. Our target market characteristics are fluid, and our adaptability enables us to adjust swiftly to evolving demand dynamics. We continuously evaluate opportunities in different markets and are responsive to evolving macro-economic trends. We believe we are well positioned to capitalize on U.S. federal government funded programs such as the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, and the CHIPS and Science Act, to the extent legislative and funding commitments with respect to these programs remain intact, programs which in the aggregate provide for approximately $1.6 trillion in funding and incentives that impact our current and target markets. Our operations infrastructure is designed to quickly scale our labor resources and optimize utilization to accommodate significant growth without a proportionate need to increase related corporate overhead expenses. We believe this positions us for responsive expansion within and into attractive growth markets while increasing margins through scale over time.

Experienced leadership team, aligned insider ownership, valuable technical workforce, and entrepreneurial culture. Gary Bowman has led our Company since its founding in 1995 and is our largest individual stockholder.

Our senior executive team is highly experienced, with extensive tenure in their respective areas of responsibility. The team has a proven record of accomplishment with respect to sustained revenue growth, executing, and integrating acquisitions, implementing internal controls, and managing regulatory compliance. 

We have a highly technical workforce, of which approximately 33% hold professional certifications from various industry and regulatory bodies. Our dedication to growth of opportunity for our employees has enabled us to attract and retain exceptional talent. We have built an organization uniformly aligned in its mission, values, purpose, and goals. We embody a set of cultural values that promote entrepreneurship, personal growth, and responsible freedom. We remain committed to advancing diversity and inclusion in our workforce.