Bernhard Capital Partners to Acquire Bowman Consulting for $1 Billion

Bernhard Capital Partners will acquire Bowman Consulting Group for approximately $1 billion, according to an agreement announced Monday. Under the terms of the deal, Bowman shareholders are expected to receive about $43 per share of common stock.

Following the acquisition, Bowman Consulting Group will become a privately held company and its stock will be removed from the Nasdaq Exchange. Gary Bowman, the company's founder and CEO, stated that the transaction delivers premium cash value to shareholders and positions the firm for continued growth.

The agreement includes a 35-day window during which Bowman and its advisors may solicit and negotiate alternative acquisition proposals from third parties. This provision allows the company to terminate the current merger if a different agreement is reached.