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Deal Announcement: Infrastructure Engineering Corporation (IEC) was acquired by Ardurra Group



Las Vegas, NV, May 11th, 2021 - Blackcastle Partners is pleased to announce the sale of Infrastructure Engineering Corporation ("IEC") to Ardurra Group.

Infrastructure Engineering Corporation ("IEC") is a leading San Diego-based Water, Wastewater, Recycled Water Planning, Design, and Construction Management firm serving public agency clients throughout California. The Company has over 55 employees in 6 offices throughout California serving more than 225 clients and is a recognized staple of the California public agency water/wastewater market. The firm has a broad client base and achieved a high level of recognition through repeat business from many long-term clients. IEC has received many local and state/regional level project awards from professional societies such as the American Society of Civil Engineers, American Public Works Association, and American Consulting Engineering Council. For more information about IEC, visit https://www.iecorporation.com/

Ardurra Group is one of the fastest-growing engineering firms in the United States, providing consulting and engineering services to public and private entities throughout multiple states across the country. With the addition of IEC, Ardurra further expands its footprint in Southern California and enhances its current disciplines of water, civil, public works, emergency management, structural, surveying, aquatics, environmental, and transportation.

Ardurra Group operates as a portfolio company of RTC Partners, LP. RTC Partners is a New York-based private equity firm that partners with managers of middle-market companies to unlock growth opportunities.

Ardurra press release: https://www.businesswire.com/news/home/20210511005858/en/Ardurra-Group-Inc.-Acquires-Infrastructure-Engineering-Corporation

Blackcastle Partners acted as advisor for Infrastructure Engineering Corporation ("IEC"). The transaction closed in the first week of May 2021; the terms of the deal were not disclosed.

Blackcastle Partners is a mergers and acquisitions (M&A) advisory firm providing consulting services to AEC clients in the United States and Canada. Our mission is to help business owners achieve their exit or growth objectives while creating greater opportunities for all shareholders and employees. Blackcastle's experienced advisory team has completed numerous merger and acquisition transactions and has an established network of strategic and private equity buyers. For more information about us and our services, please visit our website at blackcastlepartners.com

Follow Blackcastle's LinkedIn page to see our latest activity and deal announcements at https://www.linkedin.com/company/blackcastlepartners

Links to our latest AEC deal announcements on our News/Blog page:

- https://www.blackcastlepartners.com/single-post/deal-announcement-msa-engineering-consultants-was-acquired-by-imeg-corp

- https://www.blackcastlepartners.com/single-post/deal-annoucement-mendenhall-smith-structural-engineers-was-acquired-by-imeg-corp

Blackcastle Partners

blackcastlepartners.com

(949)614-5564

Interested in exploring your M&A options?

We are seeking sell-side mandates with the following criteria:

Company Size:

- Revenues: $2 million - $50+ million

- EBITDA: $0.5 million - $5+ million


Services:

- Architecture / Interior Design

- Construction/Project Management

- Environmental Services

- Fire and safety Eng.

- Geomatics

- Geotechnical Eng.

- Highways and Bridges Eng.

- Land Development

- Landscape Architecture

- Mechanical Electrical Plumbing (MEP) Eng.

- Planning Services

- Program Management

- Structural Eng.

- Transportation / Infrastructure Eng.

- Water and Wastewater Eng.

Geography:

- United States

- Canada


Characteristics:

- Sustainable profit margins

- Compelling growth opportunities

- Competitive advantages


Management team:

- Owner(s) seeking to retire/exit within 2-5 years

- Management team looking for partnership opportunities to grow the business

- Strong next-generation leadership


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