BATON ROUGE — Bowman Consulting Group announced that it would be acquired by Berhard Capital Partners for about $1 billion on Monday.

Under the terms of the agreement, shareholders are expected to receive about $43 for each share of Bowman common stock, with Bowman becoming a privately held company and the stock being removed from the Nasdaq Exchange. 

"Since becoming a public company in 2021, we have significantly expanded Bowman's capabilities and built a national platform positioned to address increasingly complex infrastructure needs," said Gary Bowman, Founder and Chief Executive Officer of Bowman Consulting Group. "We are pleased to enter into a transaction that stands to deliver premium cash value to our shareholders, while also ensuring that Bowman will be positioned well for continued growth."

The deal also says that Bowman and its financial and legal advisors can solicit and negotiate other acquisition proposals from third parties during a 35-day period, allowing the company to terminate the current merger agreement before entering into an alternative agreement with someone else.