SoCal Professional Design Consulting Firm Acquired by Nationwide Engineering Services Firm
Kudos to longtime client Project Design Consultants (PDC)—which provides civil engineering, surveying, planning and landscape architecture to a variety of public and private clients throughout Southern California—on completion of its acquisition by engineering services firm Bowman Consulting Group (Nasdaq: BWMN).
Headquartered in San Diego, PDC has since 1976 been involved in shaping communities through professional design services that include civil engineering, surveying, planning, and landscape architecture. Bowman is an engineering services firm with more than 60 U.S. offices delivering infrastructure solutions to customers who own, develop, and maintain the built environment.
The M&A transaction was complex. Representing PDC on the corporate was Procopio Capital Markets & Securities practice co-leader Dennis Doucette, joined by Mergers & Acquisitions and Strategic Joint Ventures practice co-leader Jason Femrite, Gabriela Turner and Andrew Parsons, with tax guidance by David Boatwright, John Miles and John C. Lee. The deal began as a straight stock purchase, changed to a 338(h)(10) election, then to a taxable reverse triangular merger, and finally an F reorganization.
Said PDC CEO Greg Shields:
Bowman’s business model aligns well with ours and we are excited to be a part of the Bowman family. Our team has built a unique operation over our nearly fifty-year history, and this business combination will facilitate the acceleration of our growth and create new opportunities for our team. We are grateful for the opportunity to lead Bowman’s entrance into Southern California and look forward to expanding our reach over time. Culture was a very important criteria for us in this process and we are confident that we have found the right fit.
Learn more in Bowman’s press release.