Engineering services company Bowman Consulting Group has acquired US-based geospatial, land survey, and project management company MTX Surveying.

The financial terms of the transaction were not disclosed.

Bowman projects the deal to be immediately accretive and contribute approximately $9m of annualised net service billing.

The deal was funded using a combination of cash, seller notes, and equity. 

Bowman’s CEO Gary Bowman said: “Shane and Austin [of MTX Surveying] have built an exciting company.

“Their focus on oil and gas, energy, and renewables projects will help to accelerate our goal of increasing the contribution of power and utility-oriented assignments within our revenue mix. Their experience with aerial mapping, data capture, hi-res orthometric imagery, and drone surveying complements other recent acquisitions and investments we have made in geospatial technologies and services.”

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Set up in 2016, MTX currently employs more than 60 professionals, technicians, and support staff.

These employees offer surveying, mapping, consulting, project management, and permitting services to clients across the US, including in Texas, Louisiana, and New Mexico.

MTX caters mainly to clients in the renewable energy and oil and gas sectors, among others.

As part of this acquisition, all MTX employees will join Bowman.

MTX president and founding partner Shane Nafe said: “We’re pleased to be joining Bowman and are excited about the opportunities this acquisition provides.

“Bowman has an expansive national platform of clients, assignments, and engineering professionals to which we can contribute immediately. We’re ready to get started adding value and growing our collective energy services and geospatial practice.”