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TRANSACTIONS BTTC MERGES WITH CUMMING GROUP Cumming Group, an international project management and cost consultancy, announced it has merged with BTTC, an infrastructure consultancy specializing in the rail and energy markets. This move enhances Cumming Group’s capabilities and growth opportunities in the infrastructure sector internationally. Established in 2016, BTTC focuses on the delivery of complex infrastructure projects across the U.K. and Canada. The firm has built a reputation providing critical program management, commercial management, and advisory services for some of the industry’s largest and fastest- growing transportation agencies across the public and private sectors. The merger aligns with Cumming Group’s long-term strategy of continued diversification across the broad spectrum of the built environment while establishing Cumming Group’s first major foothold in Canada – providing the combined firm with
the necessary expertise and geographic presence to continue its expansion in the North American infrastructure market. Craig Maunder, CEO UK & Europe of Cumming Group, expressed his enthusiasm about the merger, stating, “The integration of BTTC into Cumming Group represents a considerable step in our strategic expansion within the rail infrastructure sector. This merger strengthens our U.K. operations while providing us with valuable Canadian infrastructure expertise that we can expand throughout North America.” Rob Offord, managing director at BTTC, added, “Joining Cumming Group marks an exciting new chapter for BTTC and our staff. This partnership not only provides us with the resources and reach of a global organization but also creates tremendous opportunities for our employees to continue developing their careers across multiple regions and markets.”
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EZEQUIEL TOVAR, from page 1
they must pull (revenue growth or profitability) to not only have their stake in the company rise, but their compensation as well. You must tie in the incentives that allow them to understand the more they grow the pie, the better it is for everyone. Never underestimate the power of incentives. Align them properly and your firm will radically transform. ■ Class A and B shares. I’ve never understood the reasoning behind this. If you are selling someone 10 percent of the firm, but it is Class B (no voting power), that only sows distrust in the transition process. They are still in the minority (owning 10 percent) and major decisions will not be able to be made without the majority (51 percent). It is simply best to have all shares equal. Choose the right people to replace you and you will never worry about this! ■ The benefits of selling internally. Ownership is a wonderful way to retain your key talent. They have a stake and including them in the fold will only help build a strong second-tier leadership for a potential sale of your business. Their ownership interest can be moved into the acquiring company and provide better opportunities for their career development. Ownership transition gets better the more you do it, but getting it right the first time facilitates all future transactions. The ownership transition decisions you make right now will have a monumental impact later for the new generation of owners. So be transparent and create a vehicle that generates value for you and everyone else! Ezequiel Tovar is a senior transition analyst at Zweig Group’s. Contact him at etovar@ zweiggroup.com.
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THE ZWEIG LETTER DECEMBER 30, 2024, ISSUE 1566
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