Partner Engineering Buys LandAmerica Assessment Assets

Posted by Orb Staff on March 31, 2009 No Comments
Categories : Commercial Mortgage

Partner Engineering and Science, a national provider of environmental and engineering due diligence services, has acquired the assets of LandAmerica Assessment Corp. (LAC), a LandAmerica Financial Group Inc. subsidiary that filed for bankruptcy earlier this month.

Under the terms of the transaction, Partner receives all of LAC's accounts receivables, digital assets, existing environmental reports and software systems.

"Land America Assessment was arguably one of the market leaders in providing building engineering and environmental site assessment services to the commercial real estate market," says Joseph Derhake, principal with Partner Engineering. "LandAmerica's national reach and industry best software systems, combined with Partner's reputation and technical expertise, will create a very strong and dependable company going forward."

In February, Los Angeles-based Partner Engineering acquired the environmental site assessment practice of Loveland, Colo.-based US-Reports, a provider of phase I environmental assessments to Small Business Administration lenders nationwide.

SOURCE: Partner Engineering

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