Bowman (NASDAQ: BWMN acquires Lazen Power Engineering

Bowman Consulting Group Ltd. (NASDAQ: BWMN) announced it has acquired Lazen Power Engineering, a Florida-based firm specializing in high-voltage transmission line design and construction oversight.

The acquisition adds transmission line design capabilities to Bowman’s power and utility practice. Lazen brings experience in overhead transmission line design and project management for regional utilities across the United States, including services for fire risk mitigation, greenfield design, reconductor upgrades, clearance improvements and asset inspections.

“This acquisition accelerates our long-term strategy to build a comprehensive energy practice focused on generation, distribution, storage, delivery and maintenance of power-related infrastructure,” said Gary Bowman, founder and CEO of Bowman.

Founded in 2014 and based in Orlando, Florida, Lazen Power Engineering has completed transmission line projects for utilities nationwide. The company’s founder Mohammed Issa said joining Bowman provides the opportunity to be part of a larger platform while continuing to focus on specialized client needs.

Bowman financed the acquisition through a combination of cash, seller notes and equity. The company expects the acquisition to operate at a net service billing run rate of approximately $2.0 million and be immediately accretive to earnings.

The acquisition complements Bowman’s recent purchase of e3i Engineers, which expanded the company’s capabilities in data center and interior energy infrastructure design. Bowman operates from 100 locations throughout the United States with 2,500 employees, providing engineering services to customers in regulated end markets.