Round Table Capital Partners (RTC) has acquired Hull & Associates, a provider of environmental and engineering consulting services.
Hull & Associates specializes in the environment, energy and infrastructure markets and its services include site assessment and remediation, brownfield redevelopment, wastewater management, and infrastructure design. Customers of Hull include more than 500 industrial businesses, energy companies, public utilities, municipal and government agencies.
Hull, founded in 1980 with more than 150 employees, is headquartered north of Columbus in Dublin, Ohio with seven additional offices in the Midwest and Mid-Atlantic regions including Ohio (5), Texas and Pennsylvania.
RTC’s investment in Hull is the first buy for the firm as it launches an environmental and engineering consulting services platform.
“We are excited to complete this transaction with such a strong and diverse firm and look forward to partnering with the management team at Hull to launch our strategy,” said Christopher Lee, a managing partner at RTC. “Their stellar reputation in the market and strong business and operational acumen will serve as a vital foundation for building a nationwide leader in the industry.”
With the close of the transaction, RTC has named Gerry Salontai as Hull’s new CEO. Craig Kasper, Hull’s current CEO, will take on the role of executive vice president.
Prior to joining Hull, Mr. Salontai was CEO of Salontai Consulting Group from 2009 to 2020; and from 1981 to 2009 he was with The Kleinfelder Group, a San Diego-headquartered provider of engineering, construction management, design, and environmental services. During his 12-year tenure as CEO of Kleinfelder, the company grew from $70 million to more than $300 million in annual revenues through a combination of organic growth and add-on acquisitions.
“Hull is an exceptional company with great leadership in a highly fragmented industry with increasing tailwinds,” said Mr. Salontai. “We are dedicated to building on their history of success through a combination of organic growth and strategic acquisitions.”
New York City-based Round Table Capital Partners invests in North America-based companies with EBITDA from $500,000 to $10 million and enterprise values from $1 million to $50 million. Sectors of interest include professional, business and healthcare services. The firm was founded in 2018 by Tony Brindisi and Christopher Lee.
Dublin, Ohio-based Rea & Associates was the financial advisor to Hull on this transaction and Carlile Patchen & Murphy provided legal services.
Private Equity Professional | July 14, 2020