Chartwell Advises RESPEC on Acquisition of 100% ESOP-Owned PDC Engineers

Chartwell is pleased to announce RESPEC, Inc.’s (“RESPEC” or the “Company”) acquisition of PDC Inc. Engineers (“PDC”). The transaction brings together two 100% ESOP-owned companies with over 110 years of industry experience and combined revenue of $80M. The collective company will continue to operate under the RESPEC banner.

RESPEC engaged Chartwell as its exclusive financial advisor to lead and execute a complex transaction involving the combination of two 100% ESOP-owned companies and their respective plans. Throughout the process, Chartwell provided objective counsel and facilitated negotiations on behalf of the Company to ensure a successful outcome for both parties. Chartwell conducted in-depth analyses to advise RESPEC on investment merits, valuation, transaction structuring, and ESOP related matters.

Chartwell Value Add

We are no strangers to the M&A process and I personally have interacted with many financial professionals throughout my career. We selected Chartwell to lead this important endeavor based on Chartwell’s ability to leverage its team of professionals to provide unbiased, comprehensive advice throughout the transaction process. Chartwell’s ability to navigate through a complex ESOP transaction during one of the more complex times in recent history was invaluable. It was comforting to know we had a reliable and responsive partner to help us cross the finish line.” — Todd Kenner, CEO, RESPEC

About RESPEC, Inc.

Founded in 1969, RESPEC is a technical consulting and environmental services company specializing in the application of technology to solve complex business, scientific, and engineering problems. The Company is a global leader in geoscience, engineering, data, and integrated technology solutions for major industry sectors. Since 2011, RESPEC’s revenue has increased from $18 million to $56 million and its staff has grown from 140 to 340. The Company’s staff consists of engineers, geologists, scientists, inspectors, technicians, and specialty consultants with decades of engineering and construction experience. Headquartered in Rapid City, South Dakota, RESPEC has locations across the country and has completed projects around the world. For more information about RESPEC, please visit

About PDC Inc. Engineers

Based in Fairbanks, Alaska, PDC has business interests dating back to 1953. PDC is a multi-disciplinary consulting and design company that provides services to the facilities, transportation, land development, and utilities markets. PDC serves a variety of industries with a portfolio of clients including federal, state, and local government entities as well as privately owned organizations. The firm specializes in designing for extreme environments, such as those found in the Arctic and Antarctic, and for military applications. To learn more about PDC, please visit

About Chartwell Financial Advisory

Chartwell is a national leader in financial advisory, providing comprehensive solutions and investment banking services to the middle market. Our architecture and engineering practice has brought Chartwell’s expertise to over 100 companies in the industry. With substantial corporate finance and capital markets experience, the Chartwell team works with clients and their advisors to deliver independent, solutions-based advisory services that are unbiased to outcome, free from conflicts, and focused on optimizing client objectives. For more information about this transaction, please contact Joe Skorczewski, Chris Staloch, or Wil Becker.


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