Engineering and design firm Olsson of Lincoln, Nebraska, on Monday announced a deal to acquire environmental engineering consultant FTN Associates Ltd. of Little Rock.
The transaction could make Olsson, which expanded to Arkansas in 2018, the third-largest engineering firm in the state. About 55 FTN employees are expected to join Olsson. If all 19 of FTN’s engineers stay on board, that would bring Olsson’s engineer headcount in the state to 37, behind only Bernhard’s office in Little Rock and Garver of North Little Rock, according to Arkansas Business’ latest list of the state’s largest engineering firms.
Olsson said the deal is expected to close on April 22, at which time FTN will become Olsson FTN. On Jan. 1, it will drop the “FTN” and take the Olsson name.
Financial terms of the deal were not disclosed.
FTN, founded in 1980, has offices in Little Rock, Fayetteville, Baton Rouge and Chesterfield, Missouri. The company, led by Paul Crawford, specializes in designing solutions to meet the needs of clients in water, wastewater, natural resources, solid waste, and Clean Water Act compliance.
The company’s technical capabilities and experience, along with its growth in key service areas, made it a “perfect fit” for Olsson, said Brad Hammond, vice president and local area leader at Olsson.
“Geographically, Olsson has a strong presence in Northwest Arkansas, and FTN’s Little Rock office will establish our firm in Central Arkansas,” Hammond said in a statement to Arkansas Business. “We believe this provides a springboard to grow our services in the region, allowing us to better serve clients statewide.”
Olsson did not disclose the total number of contracts the combined company will have, or the value of those contracts.
Olsson entered the Arkansas market six years ago with the acquisition of Hammond’s former firm, McGoodwin Williams & Yates of Fayetteville. Since then, Olsson’s service offerings for public and private clients have grown to include transportation, site development, power transmission, water resources, geotechnical, construction materials testing and environmental services.
The company’s Fayetteville workforce has grown from 30 to 75, and in December, Olsson moved to a new three-story, 39,000-SF building to accommodate more growth.
The population boom in northwest Arkansas and sustained growth and investment in central Arkansas provide “significant opportunities” for Olsson, Hammond said.
“We continue to see a demand for infrastructure improvements necessary to support growth and development in these communities,” he said. “With Olsson’s comprehensive services and bench depth, we can provide just about any service that a community, agency, developer, or industry might need.
“More specifically, we continue to see clients concerned about environmental challenges and permitting, flood control, and water quality issues. FTN’s expertise will strengthen Olsson’s capacity to deliver environmental and water services that are essential for the future growth of communities.”
Olsson’s notable projects include Springdale’s water and sewer master plan, Mt. Hebron Park and Garrett Road in Rogers, and East Battlefield Boulevard in Bentonville. Current projects include the Beaver Water District Western Corridor Pipeline, a new water transmission facility that will serve the western side of the four biggest cities in northwest Arkansas.
Olsson was founded in 1956 by John E. Olsson as a one-person firm and has grown to a 2,000-employee firm with more than 30 offices in 10 states. The company posted revenue of $317 million in 2022. Revenue grew in 2023 and projections for 2024 indicate continued growth, according to Hammond.
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