Bowman expands utility infrastructure engineering services with Richter acquisition
(UI) – Bowman Consulting Group Ltd. announced the purchase of Richter & Associates, a Rockville, Maryland based professional services firm focused on dry utility infrastructure engineering. The firm, founded by Steve Richter, a former PEPCO engineer, works with private and public clients along with utility services providers to navigate the complexities of design, development, and implementation of natural gas, electric and telecommunications infrastructure. Richter, along with other senior managers of Richter, will become part of the Bowman management team.
The company expects the Richter acquisition to contribute approximately $5.5 million of annualized net service billing before revenue synergies and be immediately accretive. The acquisition, which was in line with Bowman’s target acquisition metrics, was financed with a combination of cash, seller notes, and equity.
“Evolving complexity of end use, combined with increasing load demand, is forcing utilities to rethink their approach to system extension, capacity management, interconnectivity, and last-mile design. Steve has built a business uniquely positioned to address the need for integrated dry utility engineering inherent in all infrastructure projects. Every structure built requires coordinated orchestration of last-mile utility engineering and interconnection with multiple utility providers. Richter has built a solid foundation of experience and an impeccable reputation from which we can grow this service nationally,” said Gary Bowman, CEO of Bowman.
Related News
From Archive
- Fatal trench collapse halts sewer construction in Massachusetts; two workers hospitalized
- Alaska LNG pipeline could require 7,000 workers at peak construction, developers say
- Ohio trench collapse kills one worker, injures two during pipe installation
- Elon Musk's Boring Co. fined for dumping drilling waste into Vegas sewer system
- $1.4 billion Midwest pipeline expansion to move more Canadian oil to U.S. Gulf
- Glenfarne Alaska LNG targets late-2026 construction start for 807-mile pipeline project
- Fatal trench collapse halts sewer construction in Massachusetts; two workers hospitalized
- Massive water line failure leaves majority of Waterbury without service
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- Pennsylvania American Water launches interactive map to identify, replace lead water service lines
Comments