Engineering Firm Purchased by EmployeesPosted: Updated:
An employee group led by HWC Engineering President Ed Jolliffe and Executive Vice President Terry Baker has acquired the Indianapolis-based company. HWC provides design and consulting services to the water, transportation and landscape architecture industries.
July 24, 2013
Indianapolis, Ind. -- A management group, led by President and CEO Ed Jolliffe and Executive Vice President Terry Baker have acquired majority interest in HWC Engineering. The company, founded in 1989 and with annual revenues of $10 million, will be majority led by Jolliffe and owned by key employees including partners Randy Hancock, James Rice and Eric Smith as well as several associate partners.
"This is a great day for HWC Engineering, its employees, and its customers," said Jolliffe, a shareholder since 2009. "We are proud of the service we provide to our public and private customers and are pleased that this acquisition keeps more than 70 highly skilled and talented employees working for an Indiana based company."
HWC Engineering is a design and consulting firm, specializing in water, wastewater, transportation, site development, landscape architecture and planning. The company employs 70 associates and has offices in Indianapolis, Terre Haute, Lafayette, Noblesville, and Scottsburg.
A proud founder, David Hannum, commented, "This is an amazing time for our firm. To have grown from a staff of 2 to where we are today has been a fantastic ride. We have 70 talented and diverse staff members who are being empowered to propel the firm to even more laudable accomplishment of problem solving and the continued gathering of top talent. The direction and the destiny of the firm’s future rest squarely in the hands of these individuals."
Original partners David Hannum and Ralph Wagle will retain a small ownership stake in the firm. Mike Cline, a partner and Vice President with the firm since 1995, will be leaving to pursue national opportunities in the water, wastewater and energy fields of engineering.
Since its founding in 1989, the firm has been a leader in the water - wastewater field and has enjoyed a strong municipal client base in the western part of the state. Recent strategic initiatives have seen strong growth in central Indiana clients, increased offerings in private site development, facilitation of public private partnerships, and new additions in the areas of planning and economic development.
"Everything we do is with an eye on how to better grow opportunities for our employees and to better serve our clients. Today’s move dramatically increases our ability to do both," added Baker.
HWC Engineering is a full service consulting design and engineering firm providing transportation, water, wastewater, stormwater, site development, landscape architecture, and project management services to clients in the public, private, and institutional sectors. Recognized as one of the premiere engineering firms in the Midwest, the firm’s accomplishments include being a recipient of the Indiana University Top 100 Growth Award, being recognized as a Top 50 design firm by Midwest Construction magazine, and a recipient of multiple projects by the American Council of Engineering Companies. The firm is ranked as a "Top 25" civil engineering firm by the Indianapolis Business Journal.
Source: HWC Engineering