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TRANSACTIONS BOWMAN EXPANDS IN GULF COAST THROUGH ACQUISITION OF FABRE ENGINEERING, INC. Bowman announced the purchase of Fabre Engineering, Inc. Founded in 1981 and headquartered in Pensacola, Florida, Fabre provides comprehensive civil engineering and land surveying to a variety of public and private clients in Florida, Alabama and Mississippi. Under the leadership of Frank Fabre, the company’s founder, Fabre specializes in water, stormwater and wastewater solutions, airports, land use planning for private developers and municipal agencies, and broad-based geomatics and land surveying services. “Frank and the extended Fabre team have a long history in the Gulf Coast,” said Gary Bowman, CEO of Bowman. “Our Southeast region will no doubt benefit from the addition of Fabre’s skilled workforce and diverse base of clients. We are all excited to welcome Fabre’s team of experienced professionals to Bowman and look forward to the cross- selling, service line augmentation and collaboration opportunities that will result from this acquisition.”
“There’s a significant amount of synergy between Fabre and Bowman,” said Frank Fabre, founder, and President of Fabre. “We are looking forward to joining an organization that shares our work ethic and commitment to quality. I am confident that we have found the right fit for our people and our clients and I believe that our team will be able to contribute meaningfully to Bowman’s growth along the Gulf Coast and throughout the greater southeast.” The acquisition, which Bowman expects to be immediately accretive, was financed with a combination of cash and seller financing. Bowman expects the Fabre acquisition to initially contribute approximately $1.5 million of annualized net service billing. “Fabre is another exciting acquisition that is aligned with our long-term strategic growth initiative,” said Bruce Labovitz, Bowman’s CFO. “The Fabre acquisition was closed at a favorable multiple relative to our stated range and it meets all objectives for operating metrics. As is our practice, we will provide more detailed information on
M&A activities, pipeline, and guidance in connection with our scheduled quarterly communications.” Bowman is a multi-disciplinary professional services firm offering a broad range of energy, infrastructure, real estate, and environmental management solutions to customers who own, develop, and maintain the built environment. Fabre Engineering, Inc. has been providing clients with civil and environmental engineering and land surveying services for over thirty years. Fabre’s clients include counties, cities, water and wastewater utilities, land developers, engineers, architects, school districts, the Department of Defense, industries, and other governmental agencies. Fabre’s professional engineering and surveying specialists use expert knowledge and state-of-the- art technology to meet every challenge encountered. Fabre’s solutions are cost- efficient, tested, proven, sustainable, and delivered with professional and friendly customer service.
a consensus among client stakeholders. Likewise, it is prudent to reestablish goals and implementation priority as new stakeholders are introduced to the team. As consultants, we should be prepared to offer a change in direction if the established path no longer serves the client’s best interest. As we cultivate deeper client relationships, we are able to have more candid conversations about the true goals of the organization that reach beyond the scope of a single project. In doing so, we can increase the value of our services by providing a more holistic approach to a series of projects. Although the method helps streamline the path to the ultimate objective, it is important to ensure consensus among client stakeholders, assemble the team that best serves the client, and understand that some adjustment to the plan is inevitable. We must always remember that we are at our best and most valuable when we are consulting for the forest, not the trees. Kollan Spradlin is a project manager at SCS Engineers. He can be reached at kspradlin@scsengineers.com. “As we cultivate deeper client relationships, we are able to have more candid conversations about the true goals of the organization that reach beyond the scope of a single project.”
KOLLAN SPRADLIN, from page 3
on an information island. When establishing long-term organizational goals, it is important to solicit and intently listen to forthright feedback from all client decision- makers. When each stakeholder concern is thoughtfully considered and addressed, we will ultimately achieve greater consensus and investment into strategic objectives, and subsequently, the agreed-upon priority of project implementation, even if the group ultimately overrules some individual’s concerns. Simultaneously, this approach helps limit wholesale revisions and reworking of plans that regularly occurs when all perspectives have not been considered. ■ ■ Knowing our strengths. Once an objective and the path to success have been established, we can commence our more technical or project level work, always keeping sight of the client’s organizational or bigger-picture goals. But it’s important to not overextend beyond our technical or professional capabilities. We must understand our client’s needs and identify where outside expertise could help deliver success. There is great value in identifying and incorporating the best resources, whether they are within or outside of our firm. ■ ■ Change is constant. As advisors to our clients, we must remain adaptable to changing personnel and outside influences that may alter the target mid-course. Verifying that goals have not changed at major implementation milestones can provide reassurance that there is still
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THE ZWEIG LETTER SEPTEMBER 26, 2022, ISSUE 1458
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