Engineering firm acquires 3D scanning service.
As an engineering consulting firm, how does one stay ahead of the competition, increase revenue and stand out in a crowded market? One way is via acquisition. Bring in expertise to focus on a market area that you either lack expertise with or see potential in. The Bowman Consulting Group is doing this with its acquisition of Spatial Acuity.
The Bowman Consulting Group is a reputable multidisciplinary engineering consulting firm. With over 1,700 employees and more than 65 offices throughout the United States, Bowman supplies planning, engineering, management and other technical services.
The strength of Bowman is its “technical genius” and industry-leading expertise. The company’s leadership has focused on strategic expansion, resulting in a national project portfolio. Wanting to increase its regional footprint led to the interest in Spatial Acuity.
Reality capture is evolving into an essential part of building information modeling (BIM). For example, capturing site data to aid in the design of a construction project, or gathering as-built data to ensure that what has been built corresponds to the CAD data and plans.
Reality capturing (and computing) is the process of leveraging data collected from the real world to drive design decisions. By capturing this (sometimes) complex geometry, reality computing can supply valuable context and avoid time-consuming and costly redesigns. This applies to every aspect of the building, including how we build them, operate them, monitor their condition and perform preventative maintenance.
Spatial acuity, a basic function of our sensory systems, is the ability to tell the difference between two things that are close in space. What a great name for a company known for its 3D modeling and reality capture! Spatial Acuity, LLC is a design and planning firm serving the AEC industry. This includes reality capture with high-definition scanning and conversion technology. The company’s focus is on laser scanning, planning, as-built documentation, drone intelligence and integration with 3D BIM.
“The ever-changing and highly technical realm of geospatial data collection and digital measurement has resulted in a crowded field of solution providers. The Spatial Acuity team has set themselves apart by capturing facility data with unmatched precision and delivering project results with a level of sophistication that is rare in the field,” says Gary Bowman, CEO of Bowman.
Bowman is expecting the Spatial Acuity acquisition to initially contribute $2.5 million of annualized net service billing and be immediately accretive.
Spatial Acuity’s founder and CTO, Garett Owens, will lead Bowman’s specialty geomatics and reality capture services group.
“Reality capture is an exciting field with unlimited growth potential,” said Owens. “By partnering with Bowman, we can expand at a pace we otherwise would not have been able to achieve. Their culture and commitment to growth matches precisely what we have been pursuing in a partner. Bowman embraces advanced technologies and together we will be an industry-leading player in the digital transformation of design, construction and asset management within the built environment.”
The acquisition will be financed with a combination of cash, seller notes and equity and is expected to close in November. The company will provide more detailed information on merger and acquisition activities, pipeline and guidance in connection with scheduled quarterly communications.
