Education, Engineering Tech

Generational Equity Advises Tanner Engineering in its Merger with RTM Engineering Consultants

Generational Equity Advises Tanner Engineering in its Merger with RTM

Tanner Engineering, founded in 1996, and located in La Mesa, California, specializes in complex electrical engineering design with specific experience in healthcare, alternative energy, and education. Their scope of services include lighting, power distribution, medium voltage, fire alarm, energy retrofits, and arc flash coordination studies.

In addition, they have expertise in facility assessments, OSHPD/HCAI – NPC studies, master planning, and innovative design strategies for microgrids and emergency electrical system upgrades. One of their most recent successes is six of the first group of microgrid projects ever approved by OSHPD/HCAI and the state of California.

RTM Engineering (RTM), located in Schaumburg, Illinois, is a national MEP, Civil, and Structural engineering consulting firm that has achieved success by remaining privately-owned and governed by its leadership team of partners. RTM has highlighted its commitment to growth through investment in successful entrepreneurial firms throughout the country, with a like-minded vision of the future.

“We have great admiration for the work produced by the RTM team and their well-established reputation within the industry. The merger between our two firms will offer some exciting prospects in undertaking new and challenging projects on a national scale,” said Rocky Tanner, President of Tanner Engineering.

Tanner added, “Much like RTM, Tanner Engineering is committed to delivering innovative design solutions for their clients’ projects, while also fostering an employee-centric culture of collaboration, respect, and trust. With our core values being so perfectly aligned, this merger will allow us to enhance our capabilities with existing clients; identify new opportunities for our newly combined team of 370+ engineering professionals across the country; and further our commitment to sustainable growth.”

“We are thrilled to be welcoming the Tanner Engineering team to RTM, their specialized expertise in the California market is unmatched, and the culture they have built aligns greatly with our own. We can’t wait to see what the future holds as we merge our two organizations,” said RTM CEO, Tony Mirchandani.

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Managing Director, M&A, Mike Meredith, with support from Senior Vice President, M&A Amy Wall closed the merger. Executive Managing Director, Rick Buchoz established the initial relationship with Tanner.

“Tanner Engineering’s expertise will merge well with RTM Engineering’s vast knowledge in the California market and beyond,” said Meredith.

About RTM Engineering Consultants

RTM Engineering Consultants, We are an engineering firm that goes beyond a typical consulting role. We become a partner to our clients by aligning with the goals, processes, and people at each organization. Since our inception in 1981, we have stood for a consistent offering by way of exceptional responsiveness.

About Generational Equity

Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. The Generational suite of advisory services includes strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A services, wealth management and digital services.

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Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

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