A group of executives has acquired majority ownership in HWC Engineering, the Indianapolis-based company announced Wednesday.
President and CEO Ed Jolliffe, Executive Vice President Terry Baker and several partners and associate partners acquired control of the firm from founding partners David Hannum and Ralph Wagle, and partner Michael Cline.
Terms of the deal were not disclosed.
HWC has about 70 employees in Indiana in offices in Indianapolis, Terre Haute, Lafayette, Noblesville, and Scottsburg. It had revenue of about $10 million in 2012.
Hannum and Wagle, who founded the firm in 1989, will retain a small ownership stake in the firm. Cline, a partner since 1995, is leaving to pursue other opportunities in engineering, the company said.
HWC specializes in water and wastewater services, transportation planning and design, site development, and landscape architecture and planning.