M&A · Industrials · Services-Management Consulting Services
Bernhard Capital Partners to acquire Bowman Consulting Group Ltd.
Announced Aug 10, 2026 · Closed Nov 6, 2026
Deal value$1.00BEV $1.00B
Premium58.0%To unaffected price
EV / Adj. EBITDA14.9x1.9x EV / Revenue
ConsiderationAll cash$43.00 per share
Transaction
- Acquirer
- Bernhard Capital Partners
- Target
- Bowman Consulting Group Ltd. (BWMN)
- Buyer type
- Private equity
- Offer price per share
- $43.00
- Enterprise value
- $1.00B
- Status
- Closed Nov 6, 2026
Deal protections
- Break fee (target pays)
- $26.9M · 2.7%
- Reverse fee (buyer pays)
- $46.0M · 4.6%
- Go-shop
- Go-shop
- Financing
- Committed · BofA Securities
Advisors
- To the acquirer
- Not disclosed
- To the target
- BofA Securities
Sector context · Industrials
- Comparable deals
- 98 in the prior 24 months
- Premium
- 58.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 14.9x vs. 11.4x sector median
- Break fee
- 2.7% vs. 2.8% sector median
Timeline
- AnnouncedAug 10, 2026
- Proxy filedSep 25, 2026
- Definitive proxyOct 5, 2026
- Shareholder voteNov 4, 2026
- ClosedNov 6, 2026
Valuation · fairness opinions
Trading comparables$27.70$43.75
Trading comparables$25.60$43.20
Other analysis$34.00$47.25
Discounted cash flow$26.40$45.95
52-week trading range$25.31$44.43
Offer $43.00
Implied value per Bowman Consulting Group Ltd. share by analysis, from BofA Securities · DCF discount rate 10%–12%.