PENNSAUKEN, N.J., Aug. 03, 2015 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (Nasdaq:RCMT), a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering, information technology and specialty health care services, today announced the acquisition of Substation Design Services, LLC, (“SDS”) a privately owned, Pennsylvania-based engineering firm specializing in design services for substation projects. SDS has worked on hundreds of projects over the past 14 years ranging from 13 kV to 500 kV transmission and distribution class substations. RCM expects the addition of SDS to complement and expand RCM’s Engineering Services offerings and provide utilities and other customers with a stronger depth of experienced engineering resources.
“We are very pleased to welcome SDS into the RCM family,” commented Rocco Campanelli, President and CEO of RCM. “This acquisition brings a talented pool of engineers with years of experience in T&D services who will enhance RCM’s capabilities at a time when utilities have earmarked millions of dollars in capital expenditures for new substations, upgrading existing stations and new GIS facilities. Many of our clients, as well as customers of SDS, are focused on greater reliability in a post-Sandy world.”
SDS has significant nationwide experience with substation design for transmission and distribution systems allowing them to provide detailed design within a substation, including electrical design, system protection and control design, and civil structural design. SDS has successfully completed over 300 substation projects for several utilities and consulting firms, which include Atlantic City Electric (ACE), AREVA T&D, Baltimore Gas and Electric (BG&E), Delmarva Power and Light, Old Dominion Electric Cooperative, Pacific Gas and Electric (PG&E) and Potomac Electric Power Company (PEPCO).
The core business mission of RCM’s Engineering division is to continue its strategic transformation designed to focus on providing our customers complete engineering, procurement and construction (EPC) solutions. RCM has added a foundational technology layer to its already strong and diverse engineering group, whose role significantly expands RCM’s architecture and civil/structural capability in addition to providing a very formidable mechanical, electrical and instrumentation and control capability.
“RCM is an established engineering firm with an excellent reputation in the energy industry. We are excited to join a firm that will provide us with strong leadership, experience, and knowledge,” commented Todd A. Sarangoulis, President of Substation Design Services. “RCM will allow us to grow our client base and further distinguish ourselves as a leader in the engineering marketplace.”
About RCM
RCM Technologies, Inc. is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced information technology and engineering services. RCM is an innovative leader in the delivery of these solutions to commercial and government sectors. RCM is also a provider of specialty healthcare services to major health care institutions and educational facilities. RCM’s offices are located in major metropolitan centers throughout North America. Additional information can be found at www.rcmt.com.
The Statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These statements often include words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should” or similar expressions. In addition, statements that are not historical should also be considered forward-looking statements. These statements are based on assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. Forward-looking statements include, but are not limited to, those relating to demand for the Company’s services, expectations regarding our future revenues and other financial results, our pipeline and potential project wins, the success of our acquisitions and our expectations for growth in our business. Such statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors, which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. Risk, uncertainties and other factors may emerge from time to time that could cause the Company’s actual results to differ from those indicated by the forward-looking statements. Investors are directed to consider such risks, uncertainties and other factors described in documents filed by the Company with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements contained in this release as a result of new information or future events or developments, except as may be required by law.