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NEWS > Allied Resources Group Acquires STV’s Oil and Gas Business Operations
Allied Resources Group Acquires STV’s Oil and Gas Business Operations
Natick, MA (November 30, 2023) – STV will exit servicing the midstream oil and gas market after signing an agreement with Pennsylvania-based Allied Resources Group (ARG).
Contact: Jenny Abaunza
[email protected] | 812-369-8248
Natick, MA (November 30, 2023) – STV, a professional services firm that plans, designs and manages infrastructure projects across North America, will exit servicing the midstream oil and gas market after signing an agreement with Pennsylvania-based Allied Resources Group (ARG). ARG will acquire STV’s midstream oil and gas business operations effective November 30, 2023.
“With the launch of our new Strategic Plan, we recognized the timing was right to rethink our position in this market,” said Greg Kelly, P.E., president and CEO of STV. “Finding the right partner where our talented oil and gas group would become the core business was essential to our team. We found that partner in ARG.”
STV’s 2023-2025 Strategic Plan focuses on its core infrastructure markets of transportation, buildings, and water. The plan concentrates on expanding the firm’s core markets, services and geographic footprint to meet the needs of current and future clients. While STV has worked in the oil and gas market for decades, its exit from this market emphasizes its commitment to the company’s core growth areas and other future-focused markets.
For more details about this transaction click here.
Morrissey Goodale, a specialized management consulting and research firm exclusively serving the architecture, engineering, and environmental consulting industries, initiated the transaction and advised STV.
About Morrissey Goodale
Morrissey Goodale has helped hundreds of clients transform and grow their architecture, engineering, and environmental consulting companies into high-level performers through strategic business planning, mergers and acquisition advisory, valuation and ownership transition, market research, marketing and business development, leadership training and development, Lean Operation Strategies, organizational development and management, virtual reality solutions, and executive search. Morrissey Goodale’s team of M&A consultants assist throughout the M&A process, from preparing firms for a transaction to a successful integration.
Morrissey Goodale’s extensive network of relationships with AE industry decision-makers around the globe uniquely qualifies the firm to identify the right buyers or sellers and guide AE firms through the complex merger or acquisition process, from conception to close.
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