Bernhard Capital to take Bowman Consulting private in $1 billion deal
BWMN•Advisers and expected closing
“What stands out about Bowman is its reputation for deep technical expertise, proven ability to efficiently execute complex projects, and the scale and diversity it has built across critical infrastructure markets,” said Mark Spender, Partner and Chief Investment Officer at Bernhard.
BofA Securities is serving as exclusive financial advisor and Latham & Watkins is serving as legal counsel to Bowman, while Kirkland & Ellis is serving as legal counsel to Bernhard Capital Partners.
The transaction is expected to close in the fourth quarter of 2026 or the first quarter of 2027.
Deal terms and go-shop period
- Shareholders will receive $43 in cash for each share of Bowman common stock they own, representing a premium of about 58% to the stock's close on Friday, August 7.
- The terms also include a 35-day "go-shop" period ending at 5:00 p.m. ET on September 13, 2026, during which the company may actively solicit, consider and negotiate alternative acquisition proposals.
- Bowman, which went public in 2021, has over 2,500 employees across 100 locations in the U.S. and completed over 35 acquisitions, according to LSEG data.
