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Press Release
July 11, 2007
2 minute read

THE WHITMAN COMPANIES EXPANDS ITS SERVICES AND CREATES NEW JOBS IN NEW JERSEY



EAST BRUNSWICK, N.J. (July 11, 2007) – The Whitman Companies, Inc., one of New Jersey’s leaders in environmental and Brownfield redevelopment, is continuing to expand its services and create new jobs in the state.


Since 2003, when Barry Skoultchi and Todd Gerber acquired the company from founder Ira Whitman, The Whitman Companies has increased its revenues 74 percent, created an additional 20 jobs, and has expanded its offerings to include geotechnical and civil engineering services to serve its public and private clients. By the end of this year, Whitman is looking to increase its office space by 25 percent.


Last month, the company paid off the loan it had arranged with the New Jersey Economic Development Authority (EDA) in 2003. At that time, Skoultchi and Gerber received a loan of $800,000 from Unity Bank, with a 25-percent EDA participation and a 30-percent EDA guarantee of the bank’s portion of the loan, to help them acquire the company.


“The EDA played a critical role in assisting us with the transaction,” said Skoultchi, “and without its participation the deal would have been in jeopardy.”


EDA Chief Executive Officer Caren Franzini said Whitman’s growth is great news for the company, its employees and the state.


“We applaud their efforts and are excited about the continued expansion of their operations,” said Franzini. “We are very pleased to have the opportunity to assist in their growth, and we do look forward to them expanding on what has already been achieved.”


The Whitman Companies was founded in 1985 and has performed over 2,500 site assessments, remedial investigations and remediation designs of varying complexity and size. The company works for all facets of industry, including environmental law firms, commercial realtors/developers, financial institutions, municipalities and school districts. Whitman also provides expert testimony and prepares expert reports for environmental attorneys representing a variety of clients.


“It was great to have the EDA as a resource to us,” added Gerber. “I think it’s very important that the EDA continues to support small businesses across New Jersey.”


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


For more information regarding The Whitman Companies, contact the company at 116 Tices Lane, Unit B-1, East Brunswick, N.J. 08816 or call (732) 390-5858. For further information, visit www.whitmanco.com.


 

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