Bowman Consulting Group Ltd. (Bowman), a professional services company, delivers engineering, technology and program management services to customers who own, develop, and maintain the built environment.
The company provides planning, engineering, construction management, commissioning, environmental consulting, geospatial imaging, surveying, land procurement and other technical services to customers operating in a diverse set of end markets.
The company provides services to thousands of custo...
Bowman Consulting Group Ltd. (Bowman), a professional services company, delivers engineering, technology and program management services to customers who own, develop, and maintain the built environment.
The company provides planning, engineering, construction management, commissioning, environmental consulting, geospatial imaging, surveying, land procurement and other technical services to customers operating in a diverse set of end markets.
The company provides services to thousands of customer projects both big and small, as well as both short- and long-term, from more than 95 offices throughout the United States and two offices in Mexico. As of December 31, 2024, the company had approximately 10,000 active projects in its backlog.
The company works as both a prime and sub-consultant for a broad base of public and private sector customers that generally operate in regulated environments. The company’s public sector assignments originate from customers that are transportation departments, utilities, government agencies (federal, state, and local), military branches, school systems, water authorities and other general infrastructure operators. The company’s private sector customers include owners and operators from multiple industries such as investor-owned utilities, oil & gas extractors and operators, participants in the renewable energy and decarbonization marketplace, data center developers and operators, wastewater treatment facilities, developers and owners of residential and commercial real estate, big-box and convenience retail chains including quick-serve restaurants, mine operators and others. During the year ended December 31, 2024, approximately 29% of the company’s revenue was derived from public sector assignments.
The company develops and maintains loyal and long-standing relationships with its customers that result in repeat assignments the company’s strategic focus is on expanding its presence in markets which best afford the company opportunities to secure assignments that provide recurring revenue and multi-year customer assignments. The company’s customers are international, national, regional, and local in their focus.
Markets
The company has strategically and deliberately diversified the markets that the company serves to reduce its dependence on any single market segment and to dampen the effects of business cycles in the company’s markets.
The markets the company serves typically require participants to engage with several of the company’s services, affording the company the opportunity to cross sell, optimize revenue potential, and differentiate itself as a single source supplier.
The company has a significant presence in each of the following markets the company serves:
Transportation
The aging of the current installed transportation base and increasing load usage are forcing public and quasi-public authorities to invest in repairs, increase the capacity of their systems or privatize the operation of their roads, bridges, and tollways.
Within the company’s transportation practice the company serves customers that include state and local departments of transportation, tollway authorities, transit authorities, and private roadway owners.
Power, Utilities & Energy Services - orient to oil & gas /away from alternative energies
Within the company’s power, utility and energy services practice it works for customers that include large electric transmission systems, gas utilities, and renewables and decarbonization providers.
Building Infrastructure
Commercial and Retail: The company serves national retailers, big box retailers, distribution center owners, office building owners and developers, convenience store operators, quick serve restaurant owners and others.
Residential: Within the residential market there are fundamentally three sub-markets in which the company’s customers participate: 1) for-sale residential housing; 2) multi-family rental housing, and 3) mixed-use and urban cluster developments. Common to each of these sub-markets is the long lead time for the planning, design and approval of land inventory. The company’s history serving the residential market goes back to the company’s beginning and the company works for most of the large national homebuilders.
Institutional and Government: As the company’s economy and population grows, the market to construct new, expanded, and modernized government facilities, schools, state-of-the-art educational institutions, military installations, and mission critical complexes expands continuously. As society adapts to a post-pandemic state and return-to-work mandates, the company has experienced increased demand for retrofits of ventilation, air handling, air quality monitoring, and filtration systems to ensure healthier indoor environments necessary to mitigate the spread of infectious respiratory diseases. The company has served institutional, government and quasi-public customers including large universities, state and local school systems, military branches, healthcare systems and others.
The company engages in activities in the following markets, which it considers to be emerging opportunities.
Water, Environmental and Other Natural Resources
As water supplies become scarce and in increasing need of protection, and infrastructure needs increase contemporaneously, the company collaborates with its customers to develop sustainable solutions to their water, wastewater, and water resources challenges. The company's team of water professionals provides water supply distribution and treatment, wastewater collection and treatment, and asset management engineering and consulting services to customers. Rapid urbanization, industrial growth, suburban sprawl, and depleting sources of fresh water are increasing domestic demand for water and wastewater solutions. The company assists municipalities, county agencies, public utilities, and private customers in addressing their potable water and wastewater challenges. The company's expertise with water solutions ranges from planning, design, construction management, and funding identification. The company serves the water resource needs of a variety of customers.
Mining
Mining facilities require a variety of the general and specialty engineering services the company provides. The company serves the Southwest U.S. copper mining industry where the company has developed specialized capabilities over time. The company also serves customers focused on mining of aggregates which are essential to the construction of roads and other transportation related infrastructure.
High Altitude Orthoimagery
In 2024, in connection with the Surdex acquisition, the company included all revenue from aerial orthoimagery in its emerging markets. High altitude digital orthoimagery involves extremely high-resolution digital scanning of the earth’s surface from manned, fixed-wing aircraft flying at a variety of altitudes. To capture these images, aircraft of different configurations are modified to accommodate precision imaging equipment being mounted inside the aircraft’s fuselage, pointing downward with clear visibility. The scanners and cameras are operated at high speeds while flying overlapping patterns, covering large target areas. Raw data is converted to manageable image files, which are ‘stitched’ together to create detailed interactive multi-dimensional maps of highly varied terrain. These discrete images and layered maps are used by private and public entities in connection with multiple infrastructure planning and monitoring initiatives.
Growth Strategies
Organic Growth
The company engages all its employees in its commitment to responsible growth by encouraging responsible freedom, entrepreneurial spirit, innovative thinking, and collaborative business development through cross-selling and revenue capture. Throughout the organization, the company's employees, leaders, and managers are provided opportunities to be invested in its success through equity participation and incentives that are targeted to reward organic growth and successful execution.
Acquisitive Growth
The company maintains an active engagement with prospective acquisition targets and business brokers. The theme of its acquisition initiatives is adjacency, whereby it identifies companies that provide customer, geographic, service line, skillset, and culture that are aligned adjacently with its business and growth objectives. The company maintains full-time, in-house acquisitions, diligence, and integrations teams, and has developed a robust network of third-party representatives working on its behalf to identify future acquisition targets that meet its strategic goals. The company maintains a dynamic pipeline driven by general market awareness of its demand for acquisition, existing relationships it has cultivated, and deliberately directed activity of its representatives.
Geographic Expansion
The company intends to continue a program of deliberate and opportunistic geographic expansion. Over the foreseeable future, the company plans its geographic footprint to be generally focused on but not limited to North America, concentrating on the United States, with a potential secondary focus on Canada and Mexico.
Description of Services
The company provides a broad array of professional engineering, technical, and technology enhanced consulting services to customers who own, construct, and maintain the built environment. The company’s highly accredited and skilled workforce utilizes an integrated methodology to provide the company’s customers with a consistent and accountable one-stop solution for both simple and highly complex assignments. The company’s scale, complemented by the company’s breadth and depth of subject matter expertise and suite of service-enabling technology assets, allows the company to secure work by delivering comprehensive and complete solutions.
Civil and Site Engineering
The company has expanded the company’s presence across the U.S. providing site planning and design services instrumental to creating communities where people live, work and play. The company’s land plans are attractive, marketable, and economically feasible. The company creatively solves the toughest site challenges. The company’s awareness of, and sensitivity to time, cost, and impacts on surrounding neighborhoods distinguishes the company and has made the company a go-to brand for civil and site engineering. Examples of services include: conceptual land planning; environmental consulting and permitting; planning / zoning and entitlements; roadway, bridge and highway designs; erosion and sediment designs; stormwater management designs; construction administration; traffic studies; floodplain studies; and utility relocation designs.
Transportation
Functional transportation systems are crucial in connecting the company’s communities and play an essential role in the development of society. The company’s engineers apply proven methods and technologies to support the company’s customers’ objectives, strengthen communities and positively impact quality of life. With significant experience in alternative delivery methods, the company’s local knowledge is backed by the deep resources and stability of a national company. The company excels on challenging transportation projects that require complex solutions within both congested urban and rural environments. From major freeway systems and urban arterials to rural highways, rail and bridge projects, the company’s transportation engineers plan, design and oversee the construction process for safe, efficient, reliable and user-friendly transit projects of all sizes and scopes. The company has experience with and understand agency rules and regulations, and the company works with municipal, county and state officials to provide guidance, professional insight, and functional and cost-effective designs while staying up to date on continually changing industry trends. Examples of services include traffic engineering; traffic signal design; traffic studies; intersection improvements; route/alignment studies; signing/pavement marking plans; roadway design; drainage design; bridge design; hydraulics; public involvement/consensus building; corridor and program management; traffic control plans; and alternate delivery methods.
Commissioning and Energy Efficiency
Commissioning involves ensuring that a new building operates in as energy efficient a manner as the original design intent. Over time, the intended use and operation of a building can change significantly. The retro-commissioning process assures that a building and its systems are optimized to perform interactively to minimize energy demands. In addition to aligning the systems with the current usage, the retro-commissioning process will typically result in substantial reduction of both operating costs and energy consumption. In addition to commissioning, the company provides energy related services such as energy modeling, Energy Star certifications, LEED consulting, and energy audits that result in substantial reductions in energy consumption. Examples of services include construction observation; direct systems functional performance testing; develop systems readiness checklist; post occupancy review; review of construction documents; deferred / seasonal functional testing; final commissioning report; and commissioning review of submittals.
Construction Management and Oversight
The quality, durability, and safety of the company’s infrastructure are all ensured by proficient construction engineering and management services augmented by sound quality assurance practices. The company’s construction engineering team consists of professional engineers, construction managers, inspectors, and certified technicians. The company approach assignments with a depth of experience that enables the company to anticipate the challenges associated with successfully delivering complex infrastructure construction projects. Every project has a comprehensive plan to address stakeholder issues, utilities, construction access and safety, pedestrian movements, environmental constraints, and schedule and budgetary limitations. It is important to note that the company does not provide general contracting services to the company’s customers. Examples of services include: constructability review; value engineering; budgeting and cost estimating; bid solicitation, documentation, and preparation; interagency and utility coordination; onsite observation and report evaluation; traffic routing, planning and management; resident engineer service; and public communication and outreach.
Environmental Consulting
Sound environmental management is essential to the health and safety of the company’s surroundings and is a critical aspect of the development of any energy, transportation, or community development project. With a focus on the environmental impact of a project, a comprehensive plan requires solutions for issues such as water scarcity, climate change, managing environmental liabilities, regulatory obligations, risk management, and good environmental stewardship. The company’s team of scientists and licensed environmental professionals possess a broad range of experience in natural resource inventories, wetland delineations, and threatened and endangered species habitat assessments for conservation, development, and infrastructure improvement projects. The company’s environmental teams have developed, or contributed to numerous regional habitat conservation plans, statewide parks planning assessments, and endangered species research, planning, and compliance projects. Examples of services include: Wetlands and waters of the U.S. delineations; Natural resources inventories; Wildlife and vegetation surveys; Threatened and endangered species surveys; Endangered species conservation and management; Wetland creation and enhancement design; NEPA documentation; Section 404/401 permitting and compliance; NPDES permitting; and Phase I environmental site assessment.
Surveying and Geospatial Engineering
The company’s industry-leading land surveying and geospatial services provide a reliable foundation for a broad range of project types. The company deploys a full suite of advanced technology solutions allowing the company to capture data efficiently in even the most remote and access challenged locations. The company creates, analyzes, and builds tools to share 3-D geospatial data, as well as helps the company’s customers integrate these tools into their daily business activities. The company seamlessly provides GIS mapping and IT services, as well as technical enhancements to projects. The company’s in-house teams of accredited land surveying experts have a deep understanding of local, county, and state jurisdiction requirements and review processes. The company’s one stop shop approach to survey and geospatial engineering streamlines the company’s customer experience and enhances the accuracy, outcome and experience of any development services or public sector project. Examples of services include: ALTA boundary surveys; Topographic surveys; Route surveys; Right of way mapping; Drone inspection of transmission lines; Laser scanning and LiDAR imaging; Land title surveys; Underground utility location; Reality capture; GIS mapping; Underwater and marine survey; Hydrology and geoscience and Aerial orthoimagery.
Landscape Architecture
Landscape architecture is place-making within the exterior environment. This broad field ranges from small-scale garden design and community parks to the large-scale design of plazas, institutional campuses, and streetscape settings. Each space is important to its users and to function well, it must meet specified programmatic needs while being aesthetically pleasing. The company works with its customers to develop the big picture ideas that can strengthen and transform a community, create tools needed to make vision a reality, guide the company’s customers through regulatory approvals processes, and work closely with developers to ensure market success once projects are completed. Balancing aesthetics, function, and sustainability, the company skillfully translates raw ideas into successful projects tailored for each site. Examples of services include: conceptual planning; master planning; hardscape design and details; streetscape design; sustainable / low impact design; construction documentation; construction administration; and arborist services.
Land Procurement and Right-of-Way
Land procurement and right-of-way acquisition is a critical component of practically any significant utility, infrastructure, or utility scale energy project. The company provides turn-key services related to the real estate aspects of large projects including public outreach, property owner negotiation, appraisal services, relocation services, and expert testimony. Examples of services include: public information meeting support; right of entry agreements; title searches/title curatives; appraisals/appraisal reviews; relocation advisory assistance; encroachment resolutions; expert witness court testimony; and eminent domain/condemnation support.
Building Services - Mechanical, Electrical and Plumbing
The company’s mechanical, electrical, and plumbing engineering services are focused on creating high performance connected environments. The company’s solutions support a facility’s purpose with systems that optimize the personal experience and deliver practical results to owners, tenants, and operators while promoting productivity and energy efficiency. The company’s electrical engineers are highly experienced in the field of photovoltaics to serve the company’s customers in the renewable energy, energy transition and energy efficiency space. The company’s mechanical engineers have the expertise necessary to deliver cost effective plans and designs for ventilation and medical-grade air filtration to meet stringent indoor air quality requirements to assist in reducing the spread of infectious respiratory diseases. Examples of services and projects include: Heating ventilating and a/c systems; Medical-grade air filtration; Indoor air quality monitoring; Smoke control and evacuation; Energy management and controls; Medical gas and vacuum; Lighting design and lighting controls; Low and medium voltage power distribution; Fire / life safety systems; Standby power and UPS systems; Telecom/Data/AV Infrastructure; Arc flash hazard analysis; and Acoustic engineering.
Structural Engineering
The company’s structural engineers work on the design and technical challenges involved in creating durable structures that meet the challenges of increasing 21st century demands. From simple culverts to complex interchanges and long-span bridges, the company incorporates unique architectural treatments and other features that contemplate the full spectrum of modern construction techniques and materials, including steel trusses, curved beams, box beams, precast/prestressed concrete, timber, and fiber-reinforced polymer spans. Examples of projects include highway bridges, culverts, retaining walls, pedestrian bridges, buildings, railroad bridges, tanks, and contractor services.
Water Resources
The U.S. water supply is becoming scarcer and in need of protection while at the same time the company’s water infrastructure renewal needs increase. To address these challenges, the company works with its customers to develop sustainable solutions to their water, wastewater, and water resources challenges. The company’s team of water professionals and technologists provide specialized water supply, distribution, wastewater infrastructure and treatment, and asset management engineering and consulting services to customers. The company’s in-house expertise ranges from planning, design, and construction assistance to municipalities, county agencies, public utilities, and private customers in helping them meet potable water and wastewater needs. The company works regularly with state and federal governments in maintaining existing systems. For customers who need funding assistance, the company’s teams have expertise in attaining grants, funds, and loans. Examples of projects include filtration systems; water pumping and storage systems; elevated storage tanks; reverse osmosis systems; disinfection / treatment systems; distribution systems; water treatment systems; nutrient removal systems; pump stations; collection systems; reuse systems; and membrane treatment systems.
Acquisitions
Acquisitions are a core component of the company’s growth plans. The company’s acquisitions activities have added numerous capabilities, services, leadership and customers in addition to expanding the company’s operations throughout the continental United States.
TCE, Inc (TCE): On February 5, 2024, the company acquired the business and operations of Trudell Consulting Engineers. TCE is a Willston, Vermont based professional services firm focused on civil engineering, landscape architecture, land surveying, utility locating and environmental services. The company works with private and public customers along with private developers, planning authorities, municipalities, renewable energy providers, natural resource excavators, hospitality and ski resort operators, property managers and retailers.
Speece Lewis Engineers, LLC (Speece): On February 20, 2024, the company acquired the business and operations of Speece Lewis Engineers, LLC. Speece is a Lincoln, Nebraska based professional services firm specializing in transportation, bridge design, surveying and hydraulics. The company works with private and public customers along with natural resource districts; federal, state, county, and municipal governments; as well as private and commercial entities.
Surdex Corporation (Surdex): On April 3, 2024, the company acquired the business and operations of Surdex Corporation. Surdex is a St. Louis, Missouri based professional services firm specializing in geospatial and engineering, low-, medium- and high-altitude digital orthoimagery, advanced high-resolution LiDAR, intelligent digital mapping, 3D hydrography, and disaster mapping. Surdex develops geospatial mapping and digital orthoimagery that enables federal, state, and local governments to view, measure, and analyze extremely high-resolution data tied to identified geographic features. Surdex serves a variety of public sector customers and contracts including multiple state departments of transportation, the US Department of Agriculture, the US Geological Survey, the US Army Corps of Engineers, and other state and local government agencies.
Moore Consulting Engineers, LLC (Moore): On April 17, 2024, the company acquired the business and operations of Moore Consulting Engineers LLC. Moore is a mechanical, electrical, plumbing, and fire protection (MEP/FP) engineering firm based in Shamong, New Jersey. Moore provides comprehensive MEP/FP engineering services to private and public sector customers throughout the United States.
Element Engineering, LLC (Element): On July 12, 2024, the company acquired the business and operations of Element Engineering, LLC. Element is a professional services firm based in Lakewood, Colorado that provides civil, water and wastewater engineering services. Element primarily serves municipal customers in rural communities and specialty districts throughout the Rocky Mountain West and Midwest.
Financial Consulting Group, Inc. (FCS): On July 18, 2024, the company acquired the business and operations of Financial Consulting Group, Inc., a Redmond, Washington based professional services firm focused on addressing the financial, management and economic challenges facing public sector entities including utilities, state and local governments, regional agencies and public safety organizations. FCS consults for a variety of customers, including government agencies in urban and suburban areas, rural utility systems, municipal authorities in regions with seasonal or climate sensitivities and communities with special commercial and industrial needs.
Robau and Associates, LLC (Robau): On August 26, 2024, the company acquired the business and operations of Robau and Associates, LLC. Robau is a Naples, Florida based firm with a professional staff with an extensive project portfolio that enhances civil engineering, water resources and project management offerings.
Exeltech Consulting, Inc. (Exeltech): On October 31, 2024, the company acquired the business and operations of Exeltech. Exeltech is a Lacey, Washington based company that specializes in bridge design, transportation planning, environmental compliance, civil engineering, landscape architecture, permitting and construction management for owners and operators of transportation infrastructure, transit facilities, ports and harbors, waterfront developments, building structures, and storm drainage and utility systems. Exeltech serves customers throughout the Pacific Northwest from offices in Washington, Oregon, and Montana.
Key Customers and Projects
The company serves a diverse portfolio of public and private customers, who own, construct, and maintain the built environment. Approximately 60% of the company’s customers during the year ended December 31, 2024, were repeat customers, which it defines as any customer from which revenue was earned in both the full years ended December 31, 2024, excluding revenue derived from companies it acquired in 2024. the company focuses its business development efforts on increasing the proportion of its revenue generated by long-term projects and multi-year contracts. The company intends to continue expanding long-term relationships and multi-year assignments with both public and private sector customers through organic growth and acquisitions. During the year ended December 31, 2024, approximately 27% of its revenue was derived from assignments with public sector customers directly.
Marketing and Sales
The company positions itself as a preferred provider of services to those who own, construct and maintain the built environment. The company secures assignments primarily through business development efforts targeted at cultivating new customers, cross-selling of the company’s services to existing customers increase wallet share, expanding customer relationships into new geographies as it grows referrals and social media campaigns. The company maintains professional marketing and business development staffs that work closely with the company’s managers and leadership to develop strategic, targeted programs for affecting outreach, advancing the company’s brand, producing professional project bids and submissions, developing new opportunities and securing new assignments.
Consumers of engineering and technical services consistent with those the company offers can be local, regional, and national organizations with projects ranging from a single, quick-turn deliverable to complex long-term assignments and multi-year engagements with multiple phases and deliverables.
The company’s business development and marketing efforts emphasize lead generation, industry group networking, project and staff promotion and general corporate visibility. The company supports its managers’ business development efforts with a seasoned team of marketing professionals embedded throughout the company’s organization working to professionalize every touchpoint with customers, prospects and influencers. The company complements its marketing and business development efforts with extensive social media awareness.
The company actively engages in creating revenue capture by cross-selling its services between customers, geographies, and markets. It defines cross-selling and revenue capture as either expanding its relationship with a particular customer by providing additional services and expanded geographic coverage or expanding its overall market penetration throughout its national operation. The company's acquisitions offer significant cross-selling and revenue capture opportunities, which facilitate organic growth. As its service offerings continue to develop and it expands its portfolio of services, the company anticipates increases in its cross-selling successes.
Regulation
As of December 31, 2024, the company was licensed to operate in all states within the United States either directly or through an affiliate.
Other principal federal environmental, health, and safety laws affecting the company includes, among others, the Resource Conversation and Recovery Act, the National Environmental Policy Act, the Clean Air Act, the Occupational Safety and Health Act, the Toxic Substances Control Act, and the Superfund Amendments and Reauthorization Act.
In connection with the process of bidding for and being awarded certain government assignments the company is required to provide an annual Federal Acquisition Regulation rate audit that determines the company’s overhead reimbursement allowance. Some significant laws and regulations that affect the company include: federal, state, and local laws and regulations (including the Federal Acquisition Regulation or ‘FAR’) regarding the formation, administration, and performance of government contracts; the Civil False Claims Act, which provides for substantial civil penalties for violations, including for submission of a false or fraudulent claim to the U.S. government for payment or approval; and federal, state, and local laws and regulations regarding procurement integrity, including gratuity, bribery and anti-corruption requirements, as well as limitations on political contributions and lobbying.
History
Bowman Consulting Group Ltd. was founded in 1995. The company was incorporated in 1995.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
