Woolpert Closes Minority Recapitalization Deal with Long Point Capital
DAYTON, Ohio (PRWEB) December 06, 2017 -- Woolpert has completed a minority recapitalization with Long Point Capital (LPC), a private equity firm, to assist the architecture, engineering and geospatial (AEG) firm with strategy, investments and add-on acquisitions. Financial terms of the transaction were not disclosed.
“The timing is perfect—over the last three years we have optimized our company in terms of performance, operational efficiency and client service—this has created an incredibly strong foundation to add some of the world’s best AEG companies to Woolpert,” said Scott Cattran, Woolpert president and CEO. “LPC’s knowledge and experience with acquisitions in our industry makes them the right business partner for us to accomplish this goal.”
In 2015, Woolpert launched a strategic plan to become the premier company in its sector. Since then, Woolpert has grown rapidly and earned multiple awards for its industry-leading growth rate and culture, which has fostered its success.
“We are most proud of our Great Place to Work Certification, which we have earned for the last two years,” Cattran said. “Every employee has the opportunity to contribute to making our company better, and that collaboration is yielding amazing results. We now have a new 10-year strategic plan that centers on growth, wealth-building and increased opportunities for employees.”
Long Point Capital Founding Partner and Managing Director Ira Starr said that LPC has previously invested in three highly differentiated project management, architecture and engineering firms. LPC understands the architecture and engineering industry, and was attracted to Woolpert due to its differentiated focus on geospatial services.
“We understand AE firms, and thought it was a unique that almost half of Woolpert’s business is related to its geospatial services,” Starr said. “Woolpert develops sophisticated geospatial technologies as well as acquires and analyzes geospatial data for federal, state and local clients. We believe that this technical specialization, when blended with strong AE skills, will enable Woolpert to continue to grow as its clients increase their use of geospatial data.”
Woolpert has nearly 780 employees at 25 offices nationwide and is headquartered in Dayton.
“Working with LPC, we will acquire complementary innovative and industry-leading companies. This acquisition strategy will assist Woolpert in its goal of continuing to solidify our spot as the trusted adviser that clients seek to become their best,” Cattran said. “I’ve never been more sure about the future success of our company, the opportunities for our employees or the outstanding services we provide.”
About Woolpert
Woolpert is an international architecture, engineering and geospatial (AEG) firm that delivers value to clients by strategically blending engineering excellence with leading-edge technology and geospatial applications. With a dynamic R&D department, Woolpert works with inventive business partners like Google and Esri; operates a fleet of planes, sensors and unmanned aircraft systems (UAS); and continually pushes industry boundaries by working with advanced water technologies, asset management, building information modeling (BIM) and sustainable design. Woolpert’s mission is to help its clients progress and become more progressive. For over 100 years and with 25 offices across the United States, Woolpert serves the needs of federal, state and local governments, private and public companies and universities, energy and transportation departments and the United States Armed Forces. The firm currently is doing business in all 50 states and in six countries. For more information, visit woolpert.com or call 937-531-1258.
About Long Point Capital
Long Point Capital (LPC) with offices in New York and Michigan, invests in outstanding founder, family, and management-owned companies, with highly capable management teams and strong growth prospects. Long Point Capital provides significant up-front liquidity and ongoing ownership to company owners who want to partner with the firm to continue to grow the value of their business. LPC focuses on lower middle market businesses with EBITDA between $5 million and $50 million with defensible market, customer and product positions, solid long-term industry fundamentals, and a history of stable earnings. The firm has invested in a diverse portfolio of manufacturing, service, distribution and consumer companies in a broad range of industries. Long Point Capital is currently investing from Long Point Capital Fund III with $240 million of capital and a strong group of limited partners who will provide additional capital where required. For more information, please visit http://www.longpointcapital.com.
Jill Kelley, Woolpert, https://woolpert.com/, +1 937-531-1258, [email protected]
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