The RETEC Group

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The RETEC Group company logo http://www.rwbaird.com/homepageimages/companyimages/Retec.jpg
The RETEC Group company logo http://www.rwbaird.com/homepageimages/companyimages/Retec.jpg

The RETEC Group was an American environmental management consulting and engineering firm that specialized in solving complex problems throughout the business life cycle – from new asset development to ongoing operations as well as final asset disposal and restoration[1]. The company provided services in the environmental and business sectors, including transportation, manufacturing, oil and gas, government, and electric utility.

In 1985, 12 employees from another environmental consulting firm, which had just replaced its management team, founded The RETEC Group. These 12 founders were located in Massachusetts, Pennsylvania, and Colorado. 17 years later, the company employed over 600 people in 23 offices throughout the United States[2]. In January of 2007, RETEC was acquired by AECOM Technology Corporation.

Contents

[edit] Overview

After founding the company in 1985, the 12 employee founders opened three office locations (Concord, Pittsburgh, and Ft. Collins). Each of the 12 founders, along with four external board members, helped fund the initial startup of the firm. With no backlog and only enough cash to sustain operations for six months, they hoped the business venture would prove successful. In 2001 THE RETEC GROUP reported revenues of $115 million[2].

Along with financial success in 2001, the firm had these additional distinctions in the U.S.[2]:

In 2002, the company had grown from the original 12 to 600 employees and from 3 to 23 offices in the U.S. from Seattle to Concord. This resulted in a compounded average annual growth rate of 25 percent since their second full year of operation[2]. This rate was continually above the average growth rate for the industry.

In January of 2007, THE RETEC GROUP was acquired by AECOM Technology Corporation, a principal global provider of professional technical and management support services in transportation, facilities and the environmental market[1].

[edit] Focus

RETEC considered itself a competitor in the national environmental market. Their focuses included [2]:

  • On-site remediation of difficult-to-treat wastes (coal tars and oily residuals)
  • Using technologies for separation (biotreatment and thermal treatment)
  • Operations and maintenance services at client sites
  • Environmental consulting
  • Management consulting related to best practices

Before their acquisition, the company was a key national player in the environmental market working with major national utilities such as[2]:

  • Coal-tar cleanup of manufactured gas plants
  • Petroleum refiners (oily residuals from up-stream production and downstream refining)
  • Railroads (diesel spills, tie-treating operations)

[edit] Values

“Values were an important part of RETEC’s life, setting the company apart from many of its competitors. The company’s values were posted prominently in each office and are these” [2]:

(1) Clients are the focus of everything the company does.

(2) The company’s people are its strength and principal asset; they are a community; they treat each other with trust and respect.

(3) Working safely is the company’s top operating commitment, both at its facilities and at client locations.

(4) The quality of the company’s products and services is the primary influence driving its growth.

(5) RETEC’s people operate as one company and make decisions that benefit the entire company.

(6) The company measures success by how it grows its revenues, increases its profits, develops its people, and delivers business values to its clients.

[edit] Management style

The company utilized a project management style that provided a specific manager on the client’s site to have full reins of authority and power, allowing a project manager to “do the right thing” [2]. “The company was loose in allowing its people to maximize entrepreneurial activities, but tight in its commitment to its values and financial management. The same face of RETEC showed from coast-to-coast, proud to serve clients well, a community of people who did well by doing good”[2].

[edit] Major projects

[edit] Official acquisition

A press release on January 29, 2007 announced the official acquisition of RETEC. RETEC was acquired by AECOM, and put into the subsidiary of ENSR, another environmental firm[3].

[edit] References

  1. ^ a b "Rejournal News" Rejournal Commercial/Investment Real Estate accessed 03/18/2008
  2. ^ a b c d e f g h i Clark, Judith F., and Robert J. Allison. MASSACHUSETTS From Colony to Commonwealth. United States of America: American Historical P, 2002. 318-319
  3. ^ "AECOM Acquires RETEC" ENSR|AECOM accessed 03/18/2008