Bowman Acquisition of e3i Engineers Immediately Expands Data Center Design and Interior Systems Engineering Capabilities

Core Viewpoint - Bowman Consulting Group Ltd. has entered into a definitive purchase agreement to acquire e3i Engineers, enhancing its capabilities in data center engineering and energy infrastructure [1][3]. Company Overview - Bowman Consulting Group Ltd. is a national engineering services firm headquartered in Reston, Virginia, with over 2,400 employees across 100 locations in the U.S. [5]. - e3i Engineers, based in Boston, Massachusetts, specializes in the design of data centers and energy infrastructure, with a portfolio exceeding 3.2 million square feet of designed data center space [2][4]. Strategic Importance of Acquisition - The acquisition of e3i is seen as a strategic move to expand Bowman's services beyond site and civil infrastructure into the core of data center engineering [3]. - e3i's expertise in AI-optimized data center design and innovative cooling technologies positions Bowman for long-term growth in data, digital, and distributed energy markets [2][3]. Financial Aspects - The acquisition will be financed through a combination of cash, seller notes, and a convertible note, aligning with previously discussed target multiples and operating metrics [3]. - Bowman anticipates that the acquisition will initially operate at an annualized net service billing run rate of approximately $2.0 million [3].