TZL 1423 (web)

TRANSACTIONS GALLOWAY & INC. ACQUIRES JRCA ARCHITECTS Zweig Group, a full-service AEC management advisory firm, announced its client Galloway & Company, Inc. has acquired JRCA Architects, creating a dynamic alignment of knowledge and culture. Jamie Claire Kiser, Zweig Group’s managing principal, served as Galloway’s lead advisor on the engagement, with support from advisor John Bray and senior analysts Andrew Chavez and Drake Hamilton. Zweig Group worked closely with Galloway’s president, Dave Guetig, and Kristoffer Kenton, director of architecture. COMPANY, “This transaction really underscores that M&A in our industry isn’t just about ‘synergies’ – it’s about the future and growth,” Kiser said. “Zweig Group has advised Galloway on a variety of strategic initiatives over the last few years, and our deep understanding of Galloway’s ambition and uncompromising commitment to culture facilitated a smooth M&A process. The outlook in the mountain region and demand for services remains strong for AEC; this

transaction is the second closing we have advised on within the month in these states, a trend we see continuing into 2022.” Galloway is headquartered in Denver with six regional offices. The firm’s staff of nearly 250 professionals provides a full-service approach to architecture and engineering that supports projects nationwide. Its active portfolio includes projects in 26 states. Utah-based JRCA is highly regarded for its design of healthcare, public works, and public safety facilities, as well as government and justice centers. The firm’s expertise in these markets will complement Galloway’s extensive portfolio in the commercial, multifamily, industrial, and federal markets. Galloway and JRCA have worked together throughout the years, and this established relationship further supported the acquisition. Galloway has grown rapidly over the past eight years, with a 13 percent annual average growth. The firm’s expansion began in 2013 with the opening of its first

regional office in Salt Lake City. Since then, Galloway has added five additional offices in Colorado, Utah and California. This is Galloway’s second acquisition in the Utah market. JRCA will retain its Salt Lake City office and staff, and will continue operations under the Galloway name. JRCA’s owners will join Galloway as shareholders. Zweig Group, three times on the Inc. 500/5000 list, is the leading research, publishing, and consulting resource for the built environment. The firm provides strategy, mergers and acquisitions, business valuation, ownership transition, marketing, business development, market research, financial management, project management, recruiting and executive search services nationwide. Zweig Group also provides a comprehensive suite of products including industry reports and surveys, executive training, and business conferences covering virtually every aspect of AEC firm management. For more information, visit zweiggroup.com or call 800.466.6275.

the cause of it. The founders/major owners won’t get out of the way. They stay too long and suck too much out of the company. They slowly run off the best people because they won’t pass the baton. Don’t be like that. The sooner you start, the better. If you don’t have good people to pass the reins over to, get some now. And please – for heaven’s sake – do a financial model that shows how much capital will be exiting the firm looking ahead each year. Not doing this is irresponsible. And finally, keep your ears open to sell the firm to someone else who WILL invest in it to keep it successful. Sometimes an external sale is the best thing for your people, not the worst. I could most definitely go on here but won’t. Good luck in 2022 – but perhaps more importantly, remember that we create our own luck every day! MARK ZWEIG is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com. “I would be working on how to keep making my business a better place to work – a more caring place, a place with real opportunities, a place that constantly reinforces the idea that good people can build a career there ... That is a big, big challenge.”

MARK ZWEIG, from page 11

3. Marketing. You may not think you need to do this because business is booming, but marketing is critical for your firm to be positioned to do well when things aren’t so great. It will also help you earn higher fees which is critical to your profitability. Do the brand building you should be doing. Do more original research. Build your client database. Make use of all social media platforms. Work on visibility – better project signage, office signage, company clothing, company vehicles, etc. – because these things will help you be top of mind for your clients and potential clients. Focus on responsiveness and making your firm easier than any other to deal with. That’s why I use the bank I use. That’s why I buy so much from Amazon. That’s why I buy cars from two specific dealerships. That’s why I use the attorneys I use. I’m not unique – a lot of busy people feel the same way and act accordingly. 4. Technology. Anything you can do to make things easier will cut down on the number of non-billable staff you need to run your business and help facilitate working remotely and getting the best people for the project working on what they should be focusing on. Reduce complexity. Reduce involvement of people in decisions that they don’t need to be involved in. Make it possible to find information quickly and painlessly. Your business will be greatly impacted by these things. 5. Transition. A lack of transition planning kills a lot more firms in this business than we may want to admit. It’s because it is a slow death that we don’t always recognize

THE ZWEIG LETTER JANUARY 10, 2022, ISSUE 1423

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