Bowman Acquires RPT Alliance, Broadens Energy Engineering to Include Utility-Scale Power Generation for Data Centers and Industrial Facilities
Rhea-AI Summary
Bowman (NASDAQ:BWMN) acquired Houston-based RPT Alliance to expand its power & utilities practice into natural gas transmission and utility-scale power generation for data centers and industrial facilities.
The $59.7 million transaction was financed with cash and a seller note. Bowman projects RPT will contribute approximately $22–24 million in annualized net service billing in 2026 and expects the acquisition to be accretive to earnings. Management said the deal modestly increases leverage but remains within its comfort zone and supports margin expansion and recurring revenue growth.
Positive
- $59.7 million purchase expands power & utilities capability
- Projected $22–24M annualized net service billing in 2026
- Transaction expected to be accretive to earnings
- Adds natural gas transmission and microgrid design expertise
Negative
- Transaction modestly increases leverage in the near term
Key Figures
Market Reality Check
Peers on Argus
Peers are mixed: NVEE up 0.8% while GLDD, WLDN, MTRX are modestly down and BBCP is down 6.5%, suggesting BWMN’s -6.01% move is largely stock-specific.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 02 | Infrastructure contract win | Positive | -1.7% | $3.7M ADA curb ramp design award expanding Philadelphia backlog and recurring work. |
| Nov 17 | Infrastructure contract win | Positive | +0.3% | $7M multi-year fish passage design contract adding long-duration Seattle project work. |
| Nov 11 | New project awards | Positive | +0.7% | New roadway and residential design assignments expanding role in The Aurora Highlands. |
| Nov 05 | Earnings and guidance | Positive | +4.5% | Q3 growth with higher net income and 2026 guidance for revenue and EBITDA margin. |
| Oct 16 | Investor conferences | Neutral | -1.5% | Participation in two November investor conferences to provide management access. |
Recent company-specific news, especially contracts and earnings, has typically seen modestly positive or small muted price reactions; today’s sharp decline on an accretive acquisition diverges from that pattern.
Over the last few months, Bowman has steadily expanded through new contracts and acquisitions. Awards in Philadelphia, Seattle and Aurora added multimillion-dollar infrastructure and transportation work, while Q3 2025 results showed revenue of $126.0M and net income of $6.6M with 2026 guidance implying continued growth. Earlier acquisitions broadened power and energy capabilities. Today’s RPT acquisition continues that strategy, emphasizing data centers and utility-scale power, and follows a series of accretive, energy-focused deals.
Market Pulse Summary
This announcement details a $59.7 million acquisition of RPT Alliance, adding natural gas transmission and utility-scale power generation capabilities focused on data centers and industrial loads. Management projects $22–24 million in 2026 net service billing and says the deal will be accretive, continuing a series of energy-focused acquisitions. Investors may track how this integrates with prior deals, its impact on margins and cash flow, and future disclosures in upcoming earnings updates.
Key Terms
seller note financial
AI-generated analysis. Not financial advice.
High-growth acquisition adds specialized natural gas transmission and power generation engineering as electrification imperatives accelerate nationwide
RESTON, Va., Dec. 08, 2025 (GLOBE NEWSWIRE) -- Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering, program management and infrastructure services firm, announced the acquisition of Houston-based RPT Alliance (“RPT”), a leading designer of natural gas transmission facilities and power generation infrastructure, including microgrid and bridging power installations for data centers, large industrial power consumers and utility operators. The acquisition marks another milestone in Bowman’s effort to expand its power and utilities practice through scalable, high-value services that position the company to capture increasing share of the markets transforming the modern energy generation and provisioning landscape.
RPT is recognized nationally for its technical expertise in the design of natural gas transmission systems and power generation infrastructure deployed by data centers and industrial facility operators facing near-term electrification constraints. These natural gas-powered installations enable rapid deployment of high-reliability energy solutions that accelerate the operational readiness of mission critical assets. RPT’s midstream engineering includes compressor, meter and power generation stations which utilize both existing and newly engineered natural gas transmission facilities with gas-fired generation equipment.
“RPT immediately transforms the platform we’ve built over the past several years,” said Gary Bowman, founder and chief executive officer. “Their speed-to-energization expertise contributes to our strategy of providing one-stop design and engineering solutions to data center, utility and industrial customers. In the built environment of the future, the bridging-to-permanent electrification solutions RPT designs will be gating items in the planning of high energy consumption facilities. Together with Lazen, e3i, SOA and our legacy team of power services professionals, we now possess a full range of expertise in the design and delivery of power systems that are enabling America’s digital and energy transformation. I strongly believe RPT will enhance our capture rate in the growing national market for power and energy solutions.”
“From the beginning, RPT Alliance was built around the simple idea that reliable, efficient and fit-for-purpose energy is the foundation of progress,” said Ryan Barnes, co-founder and president of RPT Alliance. “As the demand for industrial electrification has accelerated, our team has focused on designing practical, scalable power solutions that bridge the gap between development and long-term utility service.”
“Despite rapid expansion over the past six years, our customers have continually challenged us to accelerate that growth to keep up with their increasing workload,” added Barnes. “By joining Bowman, we are now fully equipped to meet that challenge while maintaining the high-quality of services and responsiveness our market demands. This unique combination positions us to capitalize on the immense potential ahead, leverage new opportunities, and capture significant market share. Our entire leadership team is committed to realizing this next phase of growth and is excited to get started as Bowman.”
The
“Adding accretive, high-growth revenue to our power & utilities group at a purchase multiple in line with ours improves on our attractive price to earnings growth profile,” said Bruce Labovitz, chief financial officer of Bowman. “We continue to deploy capital prudently by investing in platforms that strengthen our earnings and provide durable cash flow. We expect the high-value services and recurring revenue nature of RPT’s engagements to contribute to our margin expansion and value creation initiatives. While the transaction increases our leverage modestly in the near term, we remain well within our comfort zone with ample capacity for further growth investments.”
About RPT Alliance
Founded in 2019 in Houston, Texas, RPT Alliance offers engineering and project execution to clients in the energy, infrastructure and renewables markets. The company engineers the systems that move and deliver energy — the compressor stations, metering facilities and generation plants that form the midstream connection between natural-gas supply and the power grid. The company’s projects range from conventional infrastructure for oil and gas and utility clients to the rapid-deployment energy systems increasingly used to meet the surge in data center power demand. Having grown to over 80 professionals, RPT’s contracts span engineering, project controls, scheduling, procurement and commissioning services across a broad energy and infrastructure client base. RPT is ISO 9000:2015 certified and recognized for its disciplined, results-driven approach to project delivery.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national engineering services firm delivering infrastructure, technology and project management solutions to customers who own, develop and maintain the built environment. With 2,500 employees and 100 locations throughout the United States, Bowman provides extensive planning, engineering, geospatial imaging, construction and program management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate”, “believe”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, “goal” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. Considering these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements after the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Investor Relations Contact:
Betsy Patterson
ir@bowman.com
General Media Contact:
Christina Nichols
pr@bowman.com
FAQ
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