Bowman Acquires South Carolina Firm Dennis Corporation

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment, today announced the acquisition of Dennis Corporation (“Dennis”), a civil engineering, surveying and construction management firm headquartered in Columbia, SC.

Supporting public and private sector clients, Dennis specializes in delivering general civil infrastructure planning and design; program and construction management and oversight; environmental and geotechnical services for traffic and transportation; intelligent transportation systems (ITS), aviation, water resources and public sector facilities.

With a rich history of client-focused services, sustainable engineering practices and forward-thinking solutions, the firm has a proven reputation of success. Established in 2005 by current CEO Dan Dennis, the firm has grown to become one the largest locally owned engineering, surveying and construction management firms in South Carolina. All 40 technical and administrative professionals will become Bowman employees in connection with the acquisition.

“Dennis Corporation embodies a culture of commitment to unparalleled client service, which aligns perfectly with our cultural values, making them a great fit for Bowman,” said Gary Bowman, chairman and CEO of Bowman. “Their focus on transportation, construction management and surveying complement recent acquisitions we’ve made, and their geographic footprint introduces us to an attractive growth market in a familiar region. We’re looking forward to getting Dan and his team onboard and integrated into our platform so we can start sharing work and growing our collective base of business through revenue synergies.”

“Becoming a Bowman company begins an exciting new chapter in our proud story,” said Dan Dennis, CEO of Dennis Corporation. “Our employees are looking forward to the suite of professional development platforms available at Bowman. We’re anxious to contribute to Bowman’s work-sharing mindset and we’re excited about the opportunities we will have to expand our service offerings and increase our exposure to clients and markets.”

Financed with a combination of cash, seller notes and equity, the acquisition falls within previously discussed target multiple and operating metric ranges and is expected to be immediately accretive. The Company anticipates the acquisition will initially operate at an annualized net service billing run rate of approximately $4.5 million. More detailed information on M&A activities, pipeline and guidance updates are provided in connection with scheduled quarterly and annual communications.