LHB, Inc. and Natural Resources Engineering Company (NREC) announced the asset purchase of NREC. The acquisition was to offer expanded services to pipeline, industrial and commercial clients, LHB said in an Oct. 15 news release The expanded firm will operate under the LHB brand.
NREC, founded in 1997, provides engineering and management services related to the transmission petroleum industry including regulatory compliance, pipeline and facilities construction, water resources, waste disposal, land development, and environmental compliance. Its services span from basic due diligence audits to multifaceted capacity expansion projects and comprehensive regulatory audits.
“NREC offers an exciting opportunity for LHB to strengthen and expand its service offerings in the pipeline and industrial space,” said Rick Carter, CEO of LHB. “With several high-profile clients in common and many clients new to both firms, the acquisition of NREC supports the LHB strategy to diversify and meet future requirements for a single provider of professional architectural, engineering, and environmental services.”
Barry Power, founder and President of NREC, added, “LHB’s acquisition of NREC’s assets provides a major growth opportunity for both our businesses through complementary service offerings for our clients. I am excited to continue growing the staff’s and LHB’s abilities.”
He will join LHB as leader of a newly formed Natural Resources Engineering Business Unit that will be located at NREC’s office location, 1409 Hammond Avenue, Suite 110, in Superior. LHB will continue to also serve clients from its existing Superior office located at 63 East Second Street.
LHB’s expanded business will serve more than 300 clients, from five offices in Minnesota and Wisconsin.
It the second acquisition this month for LHB. On Oct. 1, the company announced its acquisition of Cermak Rhoades Architects (CRA) of St. Paul, also through an asset purchase. CRA closed its St. Paul location and relocated staff into LHB’s Minneapolis office.