Versar, Inc. Acquires Geo-Marine, Inc.
Versar, Inc. (NYSE MKT: VSR) has acquired Geo-Marine, Inc., a business with more than $20 million in annual revenues. The purchase price was paid with a combination of cash and seller notes. Geo-Marine, headquartered in Plano, Texas, provides engineering design, construction management, environmental planning and programming, and other services in support of a wide range of government, industry, and commercial clients.
VersarGMI's professionals have extensive hands-on, working knowledge of federal, DoD, and state regulations and guidelines relative to natural resources management. This experience reflects extensive knowledge of ecosystems and analysis techniques and the ability to work within diverse regulatory environments. VersarGMI collects and presents data with agency coordination in mind to provide regulators with the information needed for regulatory determinations and in a well organized, understandable format that also meets the client’s needs. VersarGMI has experience providing:
- Biological assessments
- Biological opinions
- Section 7 consultations
- Wetland jurisdictional determination consultation
May 29, 2012
The National Marine Fisheries Service (NMFS) recently issued a permit to VersarGMI for boat-based surveys on marine mammals and sea turtles. This permit is pursuant to the regulations governing the "taking" of marine mammals and endangered and threatened species (provisions of the Marine Mammal Protection Act and Endangered Species Act, respectively). The permit authorizes VersarGMI to "take" a specified number of protected species for scientific purposes. The main objective of the permitted activity is to assess the distribution, abundance, behavior, and migration of marine mammals and to record sightings of sea turtles in nearshore waters from southern New Jersey to North Carolina. This is a region of significant potential offshore wind farm development.