raSmith Company Profile

Background

Founded in 1978 by Richard A. Smith, M.S., P.E., F.ASCE, raSmith is a multi-disciplinary consulting firm headquartered in Brookfield, Wisconsin. The company offers a comprehensive suite of services, including civil engineering, structural engineering, traffic engineering, land surveying, development management, landscape architecture, ecological services, and construction inspection and management. With a mission to deliver excellence, vision, and responsive service, raSmith has established itself as a trusted advisor in both the private and public sectors, providing innovative solutions tailored to client needs.

Key Strategic Focus

raSmith's strategic focus encompasses a broad range of services aimed at addressing the diverse needs of its clientele. The firm's core objectives include delivering high-quality engineering and consulting services, fostering innovation, and maintaining a client-centric approach. Specializing in areas such as site planning and design, structural engineering, municipal engineering, transportation and traffic, surveying, development management, ecology, landscape architecture, LiDAR (3D laser scanning), unmanned aircraft systems (UAS), construction services, and geographic information systems (GIS), raSmith leverages advanced technologies to serve a nationwide market.

Financials and Funding

As of May 2024, raSmith's estimated annual revenue is approximately $75 million, with a revenue per employee of $110,000. The firm employs around 232 professionals across its various locations. Specific details regarding funding history and investors are not publicly disclosed.

Technological Platform and Innovation

raSmith distinguishes itself through the integration of advanced technologies and innovative methodologies. The firm is an Esri Bronze Tier Partner, providing enterprise-wide GIS services that include needs assessment, implementation, application development, geospatial system design and integration, database design, and data management. Additionally, raSmith utilizes LiDAR (3D laser scanning) and UAS (unmanned aircraft systems) to enhance data collection and analysis capabilities, ensuring precise and efficient project execution.

Leadership Team

Richard A. Smith Jr. (Ricky): President since 2018, Ricky began his career at raSmith as a civil engineer in 2002. He succeeded his father, Richard A. Smith, the company's founder, and has been instrumental in leading the firm's growth and innovation.

Wendy Wolfgram: Director of Human Resources, Wendy has been pivotal in developing programs to attract and retain top talent, contributing to the firm's recognition as a top workplace.

Jeff Derra and Pat Hainault: Co-Directors of the Structural Services Division, both promoted from assistant division directors in February 2023, overseeing structural engineering projects and services.

Leadership Changes

In November 2020, Richard A. Smith, the founder, sold raSmith to his son, Richard A. Smith Jr., who assumed the role of president. The founder now serves in a part-time advisory role as chairman.

Competitor Profile

Market Insights and Dynamics

The civil engineering industry is characterized by steady growth, driven by infrastructure development and urbanization. Firms in this sector offer a range of services, including design, construction management, and consulting, catering to both public and private sector clients.

Competitor Analysis

Key competitors in the civil engineering consulting space include:

WSB: A firm with revenue between $100 million and $1 billion, offering engineering, planning, environmental, and construction services.

Wade Trim: Generating revenue in the $100 million to $1 billion range, specializing in engineering, planning, and environmental services.

Ayres Associates: With revenue between $50 million and $100 million, providing engineering, architecture, and environmental services.

MSA Professional Services: Earning between $50 million and $100 million, offering engineering, architecture, and environmental consulting services.

TranSystems: A firm with revenue between $100 million and $1 billion, specializing in engineering and architectural planning.

American Structurepoint: Generating revenue in the $100 million to $1 billion range, providing engineering, architecture, and planning services.

These competitors offer similar services and operate in overlapping markets, contributing to a competitive landscape in the civil engineering consulting industry.

Strategic Collaborations and Partnerships

As an Esri Bronze Tier Partner, raSmith provides enterprise-wide GIS services, including needs assessment, implementation, application development, geospatial system design and integration, database design, and data management. This partnership enhances raSmith's capabilities in delivering comprehensive GIS solutions to clients.

Operational Insights

raSmith's strategic considerations include maintaining a client-centric approach, leveraging advanced technologies, and fostering a collaborative work environment. The firm's commitment to innovation and quality service delivery positions it competitively within the industry.

Strategic Opportunities and Future Directions

Looking ahead, raSmith aims to expand its service offerings and geographic reach, leveraging its technological capabilities and experienced team to address evolving client needs. The firm's focus on innovation and quality positions it well to capitalize on emerging opportunities in the civil engineering and consulting sectors.