By Generational EquityFeb 26, 2020, 08:00 et
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce that its client, Richland Engineering Limited, has become part of the WallacePancher Group. The new relationship officially began February 5, 2020 and details were not disclosed.
Richland Engineering Limited (REL), located in Mansfield, Ohio, celebrated its 50th anniversary in 2018 and provides highway and airport engineering, structural engineering, bridge design and inspection, municipal engineering, traffic engineering and surveying.
REL has provided transportation and bridge engineering and surveying services to the Ohio Department of Transportation for more than 52 years and is prequalified in 11 ODOT categories being classified as “complex”.
REL owners and management team (Pat Schwan, David Rinehart, David Timmer, Robert McAuley and David Warholic) will continue in their leadership roles in the new organization.
WallacePancher Group (WPG) was founded in 2001 and is a multi‐disciplined civil engineering and environmental consulting firm headquartered in Hermitage, Pennsylvania, with offices in Cranberry Township and Waynesburg, PA, and St. Clairsville, OH. WPG previously acquired Hays Landscape Architecture Studio in February 2016, based in St. Clairsville, OH, bringing landscape architecture and planning services to WPG.
“We are absolutely thrilled to have the REL team as part of WPG. REL’s complement of services and their long history of customer commitment will transform our combined presence in Ohio, Pennsylvania, and West Virginia,” said Brian Pancher, co-owner and Principal of WPG.
Daniel Wallace, P.E., co-owner and Principal of WPG added, “Civil engineering has been a core part of WPG’s business for over eighteen years, and the services offered by REL will expand our core business and make us a full-service civil engineering consulting firm serving the Mid-Atlantic and Midwest Regions.”
“As part of our strategic planning at REL, it was important to find a partner that shared the same commitment to providing quality services to our customers, is dedicated to its employees, and has a similar culture as we have,” said Pat Schwan, Chairman of REL. “We now have tremendous additional capabilities and resources to offer. This partnership is good for our clients, our employees, and the communities we serve and sets the groundwork for continued growth in Ohio and the Midwest Region.”
Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss, and his team, led by Managing Director, Mergers & Acquisitions, Jerry Yocum, with support from Managing Director Ryan Johnson, successfully worked with both parties to establish this connection. Senior Managing Director Brian Hendershot established the initial relationship with REL.
“Both the buyer and the seller were very patient and persistent in working to create this relationship,” said Yocum. “The cultural fit, as well as the core engineering competencies, were very strong between both firms. I look forward to hearing how things progress for them.”
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Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition, and wealth management services. Their five-step approach features exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
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