BOWMAN CONSULTING GROUP LTD. (BWMN) to Raise $40 Million in IPO


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BOWMAN CONSULTING GROUP LTD. (BWMN) is planning to raise $40 million in an initial public offering (IPO) on Thursday, May 6th, IPO Scoop reports. The company will be issuing 3,100,000 shares at a price of $12.00-$14.00 per share.

In the last 12 months, BOWMAN CONSULTING GROUP LTD. generated $122 million in revenue and $990,000 in net income. BOWMAN CONSULTING GROUP LTD. has a market-cap of $115.1 million.

D.A. Davidson and B. Riley Securities served as the underwriters for the IPO.

BOWMAN CONSULTING GROUP LTD. provided the following description of their company for its IPO: “Bowman is a professional services firm delivering innovative engineering solutions to customers who own, develop, and maintain the built environment. We provide planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to over 2,200 customers operating in a diverse set of end markets. Gary Bowman, our Chairman, Chief Executive Officer, and largest shareholder, founded Bowman in 1995. Over the past 10 years, we have experienced a roughly four-fold increase in revenue to $122.0 million for the year ended December 31, 2020. Over that period, we have risen 255 spots on the ENR Top 500 Design Firms list to a ranking of 154 on the 2020 list. We have achieved this growth through both organic expansion and acquisitions. Today, our workforce of over 750 employees provide services to over 2,800 active customer projects from thirty-two offices throughout the United States. We work as both a prime and sub-consultant for a broad base of public and private sector customers that generally operate in highly regulated environments. Our public sector assignments originate from customers that are utilities, government agencies (federal, state, and local), military branches, school systems, transportation departments and water authorities. Our private sector assignments originate from customers that operate in commercial markets including data centers, renewable energy, residential and commercial real estate, big-box and convenience retail, mining, and healthcare. We have a diversified business that is not dependent on any one service line, geographic region or end market. “.

BOWMAN CONSULTING GROUP LTD. was founded in 1995 and has 750 employees. The company is located at 12355 Sunrise Valley Drive Suite 520 Reston, Virginia 20191 and can be reached via phone at (703) 464-1000 or on the web at http://www.bowman.com/.

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