Watkins Associated Industries Announces Strategic Acquisition of Nova Engineering and Environmental

Partnership Will Allow Both Firms to Expand Capabilities

August 12, 2019 (Atlanta and Kennesaw, GA) — Watkins Associated Industries (WAI), headquartered in Atlanta, GA, has acquired Kennesaw, GA-based Nova Engineering and Environmental (NOVA). WAI is a large, privately-held company focused on creating long-term value by building and managing world-class businesses. WAI’s previously existing lines of business include real estate, food processing, insurance services, and building materials. NOVA is an industry leader providing environmental consulting, geotechnical engineering, construction materials testing and inspections, plan review and code compliance, municipal/government outsourcing, and roofing/building envelope consulting services.

The stable, long-term management team at NOVA led by President & CEO Randall Bagwell, PE, will remain in place post-acquisition. WAI will partner with this successful team to drive future growth opportunities across NOVA’s various service lines.

“We take a long-term view as we identify businesses with attractive future growth prospects and a management team with a desire to remain involved,” says Eric Wahlen, President of WAI, of the transaction. “We allow presidents of our businesses to operate independently, while partnering with them in goal setting. We look forward to leveraging our core competencies of strategic business planning, disciplined investment, and operational measurement to help NOVA position itself for a future of expansive growth. Watkins is excited to enter the professional engineering services arena with such a strong, stable, well-known, and respected partner.”

“I truly believe that becoming part of the Watkins’ family of businesses will help us reach and likely exceed our long-term goals,” says Randall Bagwell, President & CEO of NOVA. “Our firm has developed successful business relationships and lasting friendships that span decades, and we believe this partnership will help us strengthen and expand these relationships. Watkins’ strategic support and financial resources will enable us to expand the quality work and services we offer to more clients and in more locations.”

Closing took place on 8/12/19. Croft & Bender LP, led by Managing Director Steve B. Tye, served as NOVA’s investment banker on the transaction and Taylor English Duma LLP under the direction of partner Al B. Hill provided NOVA’s legal counsel. Moore Colson CPAs and Advisors, with lead partners Christopher S. Arnone, Jason Birmingham, and Jonathan Levens, provided accounting services to WAI as well as earnings and tax due diligence. Benesch, Friedlander, Coplan & Aronoff LLP under partner Michael J. Mozes provided legal counsel to WAI for the transaction.