Commonwealth Associates, Inc. (“Commonwealth”), a leading pure-play power engineering firm providing highly specialized, differentiated advisory and engineering services to electric utilities, and RRC Companies, Inc. (“RRC”), a leading provider of integrated engineering services specialized in utility-scale renewables power generation and battery storage, announced their merger today to form RC Commonwealth, a leading, scaled power solutions firm with differentiated capabilities across power generation, transmission, distribution, and behind-the-meter infrastructure. Both firms are backed by New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented investment firm.
With roots dating back to 1886, RC Commonwealth is well positioned to build on Commonwealth and RRC’s impressive brands and track record of growth by providing expanded service offerings and comprehensive solutions to its clients. The firm partners with utilities, co-ops, renewable and energy storage developers, and commercial, industrial, and data center clients, offering comprehensive solutions through boutique and integrated advisory, planning, engineering, specialized field, program and construction management, and SCADA services. Dr. Hisham Mahmoud, Chairman of the Board of both Commonwealth and RRC, will serve as Executive Chairman of the Board of RC Commonwealth, Matt Hales, President and CEO of Commonwealth, will serve as President and CEO, and Bill Bong, co-founder and CEO of RRC, will serve as Executive Vice-Chairman of the Board of RC Commonwealth.
“This merger is the product of thoughtful and detailed strategic planning discussions with the leadership teams of both Commonwealth and RRC, where there is strong alignment on a vision to create a scaled, industry leader to support the high demand for comprehensive solutions across the evolving power landscape,” said Dr. Hisham Mahmoud, Executive Chairman of the Board of RC Commonwealth. “The cultural and strategic fit between both firms was obvious to both leadership teams from the start, creating strong support and excitement throughout the organization.”
“Our partnership with New Mountain has been highly successful and has dramatically expanded and accelerated our strategy, while enabling us to preserve and strengthen our differentiated culture,” said Matt Hales, President and CEO of RC Commonwealth. “We are proud of our employee-owned, partner-led operating model, supported and reinforced by our Chairman, Dr. Mahmoud and the Board, and I am excited to contribute and play my part in this next transformative phase of our firm’s journey.”
“I’m incredibly proud of what our team has built at RRC, and enthusiastic about what we will build together with Commonwealth,” said Bill Bong, Executive Vice-Chairman of the Board of RC Commonwealth. “Expanding the scope of RRC’s services in the areas where Commonwealth has strength has been a key part of our strategy for the next phase of our growth journey. Our mission has always been about creating value for our clients and opportunities for our people, and this merger will accomplish that.”
About Commonwealth Associates
Commonwealth Associates is a leading pure-play power engineering firm with roots dating back to 1886. The firm provides high-quality advisory, planning, engineering, and program and construction management services across substation, transmission and distribution, and power generation infrastructure, serving a diversified, blue-chip base of investor-owned utilities and utility contractors. For more information, please visit https://www.cai-engr.com/.
About RRC Companies
RRC Companies is a leading multi-discipline engineering and technical services firm focused on utility-scale renewable power generation. The firm provides integrated engineering, SCADA systems integration, and specialized field services for solar, wind, battery energy storage, and broader power infrastructure projects, serving a diversified base of leading asset owners, developers, and contractors. For more information, please visit https://www.rrccompanies.com/.
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