M&A Success Story

Throughout the years, our team has completed multiple acquisitions. Each acquisition focused on delivering positive outcomes for employees, clients, and our combined businesses in close collaboration with the firms' owners.

In June 2023, Westwood acquired Texas-based engineering firm Peloton Land Solutions (Peloton). The acquisition supported Westwood’s long-term growth strategy and expansion of market and service offerings while delivering positive outcomes to employees and clients. Richard Payne, PE, former Founding Partner at Peloton and current Senior Director of Land Development, and Erik Hinklin, PE, former Principal at Peloton and current Director of Land Development, detail how the Peloton team quickly overcame acquisition concerns and challenges to feel excited about the future as 'One Team.'

Pre-Acquisition

 Richard recalls reconnecting with Bryan P. Powell, P.E., at the Zweig Elevate AEC Awards dinner in Las Vegas in October 2022. The two had previously collaborated, and they met again to catch up and discuss their families and career paths before shifting the conversation to their respective organizations. Richard noted, "As we talked, it became evident that our firms shared many similarities and a mutual desire for future success. This prompted us to explore the possibility of a partnership."

As discussions progressed, Erik and other senior leaders at Peloton were brought into the conversation. Initially, Erik and his colleagues felt apprehensive about the prospect of being acquired and concerned about how a larger company might impact Peloton’s culture and operations. However, meetings with leaders within Westwood alleviated their concerns, as those leaders provided insights into Westwood's diversification and its proven track record of successful inorganic growth efforts.

By the time the acquisition was nearing completion, Erik was no longer apprehensive about Westwood but instead anxious about the deal not going through. Erik stated, “I came to appreciate the Westwood team and knew that the acquisition would truly be a positive step forward for Peloton.”

Overcoming Challenges

After the closing announcement, the acquisition process encountered headwinds. It’s not uncommon for incoming teams to feel uncertain about the future, and the Peloton team was no exception. Richard reassured the team, emphasizing, “Peloton has always prioritized what’s best for our employees, and this decision is in their best interest.”

To further alleviate concerns, the Westwood leadership team quickly established relationships with their peers within Peloton. Leaders from both organizations made themselves readily available to address any concerns and build trust. They reassured the team that the acquisition was beneficial for employees and that the cultures of both organizations were aligned.

Another challenge for the team was the transition to electronic invoicing. As often happens with change, some team members were hesitant about the new process. However, with mentorship and training support from Westwood, the team adapted, and the new invoicing system became the preferred method of operation.

Post Acquisition

“There have been numerous positive changes for the Peloton team since the acquisition,” says Richard. “The team now has a broader perspective on the work we can undertake. Exposure to other divisions at Westwood has shifted the team’s viewpoint to a national scale. Additionally, the acquisition opened many opportunities for growth and advancement for Peloton team members. Finally, the strong relationships Peloton had established with large utility providers, cities, airports, and power companies can now be leveraged to help expand the organization.”

During the integration process, Westwood’s offices in Plano and Fort Worth, Texas, provided valuable support to Peloton’s offices in Frisco and Fort Worth, Texas, helping to ease the transition and foster a sense of unity. This collaboration continued as the teams’ market efforts merged. Erik notes, “The transition has been largely positive, with both teams forming strong relationships and leadership actively encouraging collaboration on various projects.”

Looking ahead, Erik is optimistic about the team's future. He sees great potential for growth and believes that success stems from individual effort and a commitment to the company's values. As one of Erik's favorite quotes from Abraham Lincoln states, "The best way to predict the future is to create it."

In reflecting on the journey, Erik notes, “Although there were challenges during the process, the team has emerged stronger. The excitement about the merger of the two teams is evident, and everyone is ready to embrace their new identity as 'One Team.' With a shared vision and collaborative spirit, they look forward to the future together.” Richard adds, “The acquisition has reenergized our entrepreneurial spirit and business development outlook. We are thrilled about the opportunity to help Westwood further grow as a top engineering firm. With our momentum and support, we are invigorated by the chance to bring young talent into this organization and provide them with opportunities through our growth and diversification.”