Case Studies Hill International

HILL INTERNATIONAL

Hill International provided program management, project management, construction management, and other consulting services to clients in a variety of market sectors around the world.

“For small and micro-cap companies like Hill International, it does not make any sense to have an inhouse investor relations professional when there is a firm like The Equity Group that can provide you access to an entire team of IR professionals on an as-needed basis at a fraction of the cost. Their knowledge of the investment and analyst community has been invaluable as we have transitioned from a private, family-run business to a publicly-traded company listed on the New York Stock Exchange. I would not recommend that the management of any company go through that process without the outstanding professionals at The Equity Group by your side.”

David L. Richter

Former President & COO

Hill International, Inc. (NYSE: HIL)

THE START

Commenced services in November 2005.
Arpeggio Acquisition Corp., a SPAC that had identified privately-held Hill International as its acquisition target.

OUR ROLE – PRE-SPAC BUSINESS COMBINATION

Drafted and edited all announcements and presentations associated with the SPAC transaction.
Developed and implemented an active investor meetings program to expand the shareholder base and support shareholder approval of the SPAC transaction.
Leading up to and following shareholder approval in June 2006, helped Hill transition to a public company after 30 years of being privately-held.

OUR ROLE – POST-SPAC BUSINESS COMBINATION

Continued comprehensive investor outreach, focused on obtaining sell-side research coverage, speaking invitations at investment bank-sponsored investor conferences, and new buy-side interest.
Consulted on Reg. FD, as well as how to address investor expectations.
Advised on the IR component of Hill's corporate website.
Prepared management for first-ever earnings conference call and subsequent calls; scripted remarks, advised on Q&A including potential questions, and assumed all technical and administrative functions of the event.
Prepared management for first-ever Annual Shareholders' Meeting, and subsequent meetings.
Managed an ongoing, extensive investor communications program.
Designed and implemented an active, ongoing investor conference and meeting schedule.
Served as an information exchange for current and potential investors and analysts.
Provided communications counsel throughout merger process with Global Infrastructure Solutions Inc.

RESULTS

Research coverage initiated by B. Riley, Boenning & Scattergood, CJS Securities, Morgan Joseph, Sidoti & Co, Janney Montgomery Scott, William Blair and Sterne Agee.
Stock price and institutional ownership rose substantially following merger.
Hill International and its President and COO featured on CNBC.
Feature story in Investor's Business Daily.
Listed on the NYSE (initially listed on NASDAQ post-merger).
Various investors introduced over the years took positions; institutional holdings exceeded 50%.
Completed merger with Global Infrastructure Solutions Inc. in December 2022; Hill investors were rewarded with a significant premium to the 90-day weighted average stock price.