Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, has announced that its client, Richland Engineering Limited, has become part of the WallacePancher Group. The new relationship officially began February 5 and details were not disclosed.
Richland Engineering Limited (REL), located in Mansfield, 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 compliment 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.”