The boards of directors of Vertical V, Inc. (Vertical V) and Nolte Associates, Inc. (Nolte) have reached agreement on the terms of a cash offer by Vertical V to acquire a managing interest in Nolte.
Dickerson Wright, chairman and chief executive officer at Vertical V, who will become chairman and CEO of Nolte, had the following to say about the Nolte transaction, “Acquiring a well-known, highly respected civil engineering firm with a long history of serving public clients in the infrastructure, transportation, and water/waste water markets has been a very high priority for our company. Nolte will not only provide us with a platform for our infrastructure engineering vertical, but it will also introduce us to opportunities in municipal outsourcing as well as support our existing construction quality assurance business line.”
Vertical V offers engineering and consulting services from five vertically integrated organizations: construction quality assurance; infrastructure engineering and support services; municipal consulting and outsourcing; asset management consulting; and environmental health and safety consulting. Vertical V, with offices on the east and west coasts, is committed to building a national brand supported by a combination of strategic acquisitions and organic growth.
Commenting on the announcement, Ken Rudolph, president of Nolte, said: “This affords us the opportunity to thrive in the current economy and pursue new growth opportunities. It will also allow us to continue our research and development efforts in order to bring even greater value to our public and private sector clients.” .
Under the new corporate structure, Wright will assume the role of chief executive officer and Rudolph will serve as president/chief operating officer of Nolte. Nolte is a privately held civil engineering, surveying and construction management firm with over 320 professionals in 15 locations. Nolte is ranked No. 211 overall in the Engineering News-Record Top 500 Design Firms for 2010 and No. 64 among the top Construction Management for Fee Firms.