Bernhard Capital Partners to Acquire Bowman Consulting for $1 Billion

Bowman Consulting Group Ltd. (BWMN) entered a merger agreement on August 10, 2026, to be acquired by Bernhard Capital Partners for $1 billion.

Deal Structure:

Bowman shareholders will receive $43 in cash for each share of Bowman common stock they own, representing a premium of 57.91% from the stock’s last close.

Company Profile:

Bowman Consulting Group is a U.S.-based engineering services firm providing planning, engineering, construction management, environmental consulting, surveying, and geospatial services. It serves the real estate, infrastructure, energy, and environmental sectors.

Bernhard Capital Partners is a private markets investment firm focused on investing in and building infrastructure services and asset platforms across essential sectors. The firm has more than $6 billion in assets under management.

Deal Details and Timeline:

The deal includes a 35-day “go-shop” period, during which Bowman and its advisors can seek and negotiate alternative offers from other potential buyers. The period ends on September 13, 2026.

The acquisition is expected to close in the fourth quarter of 2026 or the first quarter of 2027.

Holders representing about 15.3% of Bowman’s current voting power have entered into voting agreements to support the transaction.

BofA Securities served as Bowman’s financial advisor, while Latham & Watkins served as its legal advisor. Bernhard received legal advice from Kirkland & Ellis.

Bernhard is paying 15.25 times EBITDA for Bowman.

Deal Metrics:

For a deeper understanding of this M&A transaction, we invite you to visit the Deal Metrics page:

Deal Metrics for the acquisition of Bowman Consulting Group Ltd. (BWMN) by Bernhard Capital Partners

The Deal Metrics page for each merger or acquisition offers:

• An exhaustive spread history chart of the merger from the announcement date through to completion or failure.
• A detailed timeline of events as the merger progresses, covering the HSR period expiration, regulatory approvals, shareholder votes, among others.
• Access to news and SEC filings.
• A history of deal updates.
• And much more.

Disclaimer: We strongly advise you to conduct your own due diligence before deciding to buy or sell any securities mentioned in this article. We cannot guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article