October 2, 2007
New Haven, Connecticut– October 2, 2007–Woodbridge, an innovative middle-market mergers and acquisitions firm, is pleased to announce the sale of its client, Richard Connor Riley & Associates (RCR), Inc., to Black & Veatch, a leading global engineering, consulting and construction company.
Headquartered in Chicago, with five other locations throughout the country, RCR provides real estate and program management services to the wireless telecommunications industry. The company has particular expertise in the areas of site development, network deployment and cell tower management.
Len Rodman, Chairman, president and CEO of Black & Veatch, said in the company’s announcement of the transaction that “RCR’s professionals have vast industry experience, market-leading expertise and a strong client focus. We look forward to blending the strengths of RCR with those of our telecommunications professionals.”
Black & Veatch has 90 offices worldwide and is ranked on the Forbes “500 Largest Private Companies in the United States” listing. RCR professionals will join Black & Veatch as part of the company’s Telecommunications Division that provides wireless site development services to the wireless industry, as well as to private and public water and energy utilities.
Woodbridge’s marketing campaign for RCR reached over 4,600 prospective financial and strategic buyers. Fifty prospective buyers received the confidential memorandum.
RCR is a leader in a dynamic market niche and we knew it had tremendous value and growth potential for the right buyer. We were successful in finding that buyer and negotiating favorable terms and an excellent price for our client,” said Donald A. Krier, senior vice president of Woodbridge.