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SOURCE National Engineering and Environmental Due Diligence Association
HILLSBOROUGH, N.J., Sept. 24, 2013 /PRNewswire/ -- The National Engineering and Environmental Due Diligence Association (NEEDDA) publicly announced its formation today with seven founding members. These founders, some of the nation's largest due diligence consulting firms, include Partner Engineering and Science, Inc., EMG, Nova Consulting, IVI International, Inc., AEI Consultants, Dominion Due Diligence Group, and PM Environmental & Engineering.
Clients of the member firms include large national lenders, investors, brokers, attorneys, and other entities involved with real estate transactions.
The founders met throughout 2013 to create bylaws for the non-profit organization whose mission is to "promote the common interests of engineering and environmental consulting stakeholders who provide due diligence for real estate transactions." Members must provide both engineering and environmental due diligence services and meet the membership criteria.
"We believe that as industry leaders, we have a responsibility to contribute to the betterment of the practice of due diligence," said Joseph Derhake, PE, president of Partner Engineering and Science, Inc.
"While participation to date has only been from member firms, we welcome participation from new members, clients, vendors and attorneys," said Claude N. Limoges, CEO of EMG.
"Significant inconsistencies in contract language, scopes of work and technical deliverables, and in the professionals providing these services, have long been problems in the industry. NEEDDA and our leadership seek to address this issue head on with education, white papers, conferences and the development of our own professional certification," said Mike Kulka, P.E., CEO and Founder of PM Environmental.
"We look forward to being a part of the conversation as the due diligence community evolves. The emergence of an organization devoted to quality in both engineering and environmental due diligence is a natural next step. We're excited to be a part of this effort," stated Holly Neber, President, AEI Consultants.
"The innovative initiatives by NEEDDA are paramount to achieve consistency and accountability, whereby raising the professional standards of the due diligence industry," said Robert Hazelton, president of Dominion Due Diligence Group (D3G).
One of NEEDDA's primary goals is to promote greater consistency and quality in due diligence practices through voluntary best practices. NEEDDA's plans include creating standard contract language and providing education, publications, conferences, research and accreditation and certification programs.
The association will make further announcements in the coming weeks.
For more information about the National Engineering and Environmental Due Diligence Association, visit www.NEEDDA.net.
CONTACT: LEZA RAFFEL
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