$1 Billion Deal: Bernhard Capital Partners Acquires Bowman Consulting Group — Bowman Consulting Group Ltd.

Event summary

Bowman Consulting Group to be acquired by Bernhard Capital Partners for $43.00 per share in cash, valuing the deal at approximately $1 billion.
Transaction represents a 58% premium over Bowman’s closing share price of $27.23 on August 7, 2026.
Bowman will become a privately held company upon completion of the transaction, expected in Q4 2026 or Q1 2027.
Bernhard Capital Partners has over $6 billion in assets under management and focuses on infrastructure services and asset platforms.

The big picture

The acquisition reflects a broader trend of private equity firms targeting engineering and infrastructure services companies to capitalize on growing investment in critical infrastructure. With over $6 billion in assets under management, Bernhard Capital Partners is positioning itself to leverage Bowman’s national platform and technical expertise in regulated end markets. The deal underscores the strategic value of scale and diversification in addressing complex infrastructure needs.

What we're watching

Go-Shop Provision: Whether the 35-day go-shop period will yield a superior proposal, potentially altering the transaction terms or outcome.
Regulatory Approval: The pace at which regulatory approvals are obtained and any potential hurdles that could delay the closing of the deal.
Integration Strategy: How Bernhard Capital Partners plans to integrate Bowman’s operations and whether it will maintain the company’s entrepreneurial culture.