Hull & Associates (No. 200) was a squeaker on this year’s Top 200 list, but with its July 1 acquisition by private-equity firm RTC Partners to launch the new parent’s environmental sector “platform,” a future move up the list is likely for the engineer.
In its environmental niche, Hull specializes in site assessment, remediation, brownfield redevelopment, water-wastewater design, renewable energy and related work for private and government clients from eight Midwest offices. Recent projects include what it says is Ohio’s largest stream and wetland restoration mitigation bank.
Work in other construction sectors generated total revenue of $30 million last year for the 165-person firm, now in its third decade.
RTC Managing Partner Christopher Lee points to Hull’s “strong business and operational acumen.”
The PE firm named as its new CEO former design firm Kleinfelder chief Gerald Salontai, and as CFO, former WSP USA and Parsons Brinckerhoff finance chief Patrick Sheridan—both to drive its organic and M&A growth to the 1,000-employee level.
Financial terms of the deal were not disclosed, but new RTC shareholders include Hull employees.
Salontai sees growth momentum “in a highly fragmented industry with increasing tailwinds” that include climate change, shifting infrastructure and “social pressure to do the right thing.”