Italian class society RINA enters the US infrastructure market with the acquisition of the entire share capital of Patrick Engineering, a Chicago-based engineering consultancy company active in Infrastructure, Transport and Renewable Energy.
The Chicago-based company has a turnover of approximately $82 million and 340 employees in 19 offices, mainly located in the North-East of the US. The company will be fully integrated into RINA Consulting, the subsidiary of the RINA Group operating in the engineering sector.
With its foundation back in 1979, Patrick Engineering, expects the acquisition to further strengthen its service portfolio, and position the company as a significant player in the engineering sector in North America.
The acquisition is also aligned with RINA’s strategy to grow both organically and via acquisitions, and further strengthens the Group’s geographic footprint.
As Ugo Salerno, the Chairman and CEO at RINA, says: “The acquisition of Patrick Engineering and the combined expertise of the new organization represents a unique opportunity for expansion and growth in the thriving North American Infrastructure market. It establishes an excellent platform not only in this sector, but also to grow all RINA’s businesses to make the US one of RINA’s main hubs. RINA will gain leverage to export its highly specialized competencies in materials, lab testing and innovative technology.”
Daniel Patrick Dietzler, Founder of Patrick Engineering, commented: “Our companies complement one another, and our clients and staff will benefit from this acquisition. We will accelerate our growth in new sectors and broaden our expertise. We have a strong client portfolio split between the government and the private sector including transit agencies in major cities and investor-owned utilities and heavy industries across North America. Through RINA’s international network we will gain expertise, particularly in offshore wind, high speed rail and other emerging areas of experience our clients are asking for.”