Urban-gro eyes Texas engineering firm for acquisition

LAFAYETTE — Indoor cannabis agriculture engineering firm Urban-gro Inc. (Nasdaq: UGRO) has inked a letter of intent with Dawson Van Orden Inc. to acquire the Texas engineering firm with expertise in controlled environment agriculture.

The $7.25 million cash and stock deal is expected to close in the fourth quarter of 2022.  

DVO has 24 employees in Houston. 

“The addition of DVO represents an extraordinary opportunity to add depth and breadth of indoor CEA engineering expertise to our professional services offering. While this accretive and synergistic transaction increases our professional services revenues and margins along with future opportunities to leverage their existing clients, it…