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TRANSACTIONS BOWMAN ACQUIRES PHOENIX-BASED HESS-ROUNTREE, INC. Bowman Consulting Group Ltd., a national engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment, today announced the acquisition of Hess-Rountree, Inc., a full- service engineering firm headquartered in Phoenix, Arizona. With an emphasis on renewable energy, educational and sports facilities projects, Hess-Rountree provides comprehensive civil engineering, land surveying, contract administration, 3D laser scanning, UAV aerial mapping and photography and as- built BIM modelling services to a range of clients. All Hess-Rountree employees have joined Bowman in connection with the acquisition. During its more than 50 years in business, Hess-Rountree has worked with over 70 school districts throughout Arizona. The firm has successfully completed over 800 educational facility projects for new and existing elementary, middle school, high school and higher-education
campuses. Additionally, the company has growing practices in the design of athletic fields and courts and renewable energy projects. Led by current president Doug Osborn, P.E., the firm has expanded to serve a diverse range of public and private sector, institutional and tribal clients throughout Arizona. “Hess-Rountree has geographic adjacency with our Arizona operations and their experience will immediately contribute to several of our national practice areas,” said Gary Bowman, chairman and CEO of Bowman. “When we first met Doug and his team, we were aware of their extensive portfolio of projects throughout the Arizona educational market. The more we got to know their business it became apparent to us just how entrenched they are in their markets and how they have earned their impressive reputation. We see many opportunities for synergy in this acquisition and are excited to get started with integration.” “Joining with Bowman is the right decision at the right time for us,” said
Doug Osborn, P.E., president of Hess- Rountree. “Having been around Bowman in Arizona for many years, we know their people and we have followed their extraordinary growth story. Bowman’s local, regional and national platform presents opportunities for our firm and our people to grow well beyond what we have already accomplished. We all look forward to applying our relationships and skills from within Bowman to help achieve the company’s long-term strategic growth objectives.” Financed with a combination of cash, seller notes and equity, the acquisition falls within previously discussed target multiples and operating metric ranges and is expected to be immediately accretive. The company anticipates the acquisition will initially operate at an annualized net service billing run rate of approximately $3 million. More detailed information on M&A activities, pipeline and guidance updates are provided in connection with scheduled quarterly and annual communications.
approach not only shows sportsmanship but also builds bridges in the industry. It’s a chance to connect, share insights, and even pick up a few tips from their success. 5. Documentation. Create a “lessons learned” document or spreadsheet for all proposals, focusing on what worked and what didn’t. This should be a living document, regularly reviewed and updated with insights from new experiences. It serves as a valuable resource for continuous improvement and strategic planning. 6. Analyze and adapt. Conduct a thorough analysis of the feedback received and look for trends or recurring issues. Develop a plan to address these in future proposals. This might involve training for your team, revising your proposal templates, or reevaluating your business development methodologies. Implement the changes and monitor their impact on your success rate. Losing out on a bid doesn’t just mean waving goodbye to the time and energy you put in. For AEC leaders, how you bounce back from these losses will continue to shape your firm’s future. These strategies aren’t just about damage control, they’re about turning a “not this time” into fuel for your pipeline and processes. It’s about getting back up and doing so with a clearer direction and a bit more wisdom. Tyler Suomala is founder of Growthitect. Connect with him on LinkedIn.
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feedback from prospects. If you don’t understand where the misalignment occurred, it’s likely to happen again. Here are six strategies that address both components: 1. Personalized notes. After a loss, take the time to send a personalized note or email expressing gratitude and acknowledging the opportunity. This small gesture can differentiate your firm and lay the groundwork for future interactions. Be genuine in your communication, and try to reference specific aspects of the engagement to show that your interest is sincere and informed. 2. Constructive feedback. Make a call to gather detailed feedback on your proposal. Approach the conversation with an open mind and be prepared to ask specific, thoughtful questions that can provide insight into your firm’s performance. This feedback is a treasure trove for improving future proposals and understanding client expectations. 3. Proactive follow-up. Several months after the project begins, check in with the client. This can be a simple message or call, expressing your continued interest and willingness to provide support. This proactive approach can lead to unexpected opportunities and keeps your firm in the client’s mind for future projects. 4. Competitive congratulations. Make a personal call to your competitors to congratulate them on their win. This
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THE ZWEIG LETTER FEBRUARY 19, 2024, ISSUE 1525
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