Bowman Consulting Group Ltd. announced the acquisition of Houston‑based RPT Alliance for $59.7 million, financed with cash and a seller note. The deal is expected to add $22–$24 million in annualized net service billing in 2026, making it accretive to earnings.
The acquisition broadens Bowman’s power and utilities offering by adding RPT’s expertise in natural‑gas transmission, compressor stations, metering facilities, and gas‑fired generation. This complements Bowman’s high‑voltage transmission and data‑center design capabilities, enabling end‑to‑end power solutions that bridge development and long‑term utility service—an area driven by electrification and the growing demand for data‑center power.
Bowman’s Q3 2025 results showed revenue growth and an expanded adjusted EBITDA margin, and the company’s 2026 guidance calls for $465–$480 million in revenue and a 17.0–17.5% adjusted EBITDA margin. Adding RPT’s high‑growth, recurring‑revenue services is expected to support margin expansion and reinforce Bowman’s value‑creation strategy.
CEO Gary Bowman said the acquisition “immediately transforms the platform we’ve built over the past several years. RPT’s speed‑to‑energization expertise contributes to our strategy of providing one‑stop design and engineering solutions to data‑center, utility and industrial customers.” CFO Bruce Labovitz noted that the purchase multiple is “in line with ours” and that the deal improves Bowman’s attractive price‑to‑earnings growth profile while adding high‑value services.
The deal strengthens Bowman’s competitive position in the high‑growth utilities market, where its Power, Utilities & Energy division grew 38% year‑over‑year as of November 2025. By expanding its national, technology‑enabled engineering platform, Bowman is better positioned to capture the expanding electrification and data‑center power markets.
The transaction is accretive, modestly increases leverage but remains within Bowman’s comfort zone, and is expected to deliver durable cash flow and margin expansion as part of the firm’s broader growth strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.