Bowman Consulting acquires McMahon Associates for ~$18.3M; adds ~$28M annual transportation revenue

Bowman Consulting Group Ltd.

Aggregate consideration $18.3M: $7.5M cash, $3.4M seller notes, 476,796 restricted shares at $15.73 per share.
McMahon has 200+ professionals, 15 offices in New England, Mid-Atlantic, Florida; provides transportation planning and engineering.
Expected to contribute ~$28M annualized transportation revenue and be immediately accretive.
Bowman's second acquisition of 2022; part of $75M annualized net revenue acquisition goal for the year.
Structured as stock purchase with 338(h)(10) election; final cost subject to post-closing price adjustment.

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