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BUSINESS NEWS LJA ENGINEERING OPENS NEW OFFICE IN CONROE, TEXAS LJA Engineering, Inc. (Hot Firm #2 for 2016) has opened a new office in Conroe, Texas. After celebrating the official open house on December 1, 2016, LJA is pleased to offer expanded depth and breadth of services in its 21st location. “As true partners with our clients, we want to be where they are. This new location allows us to elevate our level of service and better leverage our talent and resources,” said Jeff Cannon, vice president of public works. LJA landed at No. 2 on the Houston Business Journal ’s Largest Houston-Area Civil and Structural Engineering Firms List, based on 2015 gross local billings of $106.45 million, and completed the most projects of any of the top 25 companies. LJA also ranked on HBJ ’s Fast 100 list in 2016 and 2015. “We fully expected the company to employ more than 650 people by yearend 2016 and to generate approximately $115 million in revenue. We have exceeded those goals and are anticipating even greater growth in 2017,” said Calvin Ladner, president. PENNONI PRESIDENT TO RECEIVE OPAL AWARD Anthony S. Bartolomeo, president and CEO of Pennoni Associates, Inc. (Hot Firm #48 for 2016), a multidiscipline firm in Philadelphia, Pennsylvania, will be honored by the American Society of Civil Engineers as one of five 2017 Outstanding Projects and Leaders award

winners. Bartolomeo is being honored for leading the development of the ASCE Grand Challenge to reduce our nation’s infrastructure lifecycle costs by 50 percent by 2025, encouraging youth to attain 21st century skills and post-secondary education, and for his ongoing commitment and leadership to community and non-profit organizations. He will receive the award on March 16, 2017, during ASCE’s annual OPAL Gala in Arlington, Virginia. “Anthony is an exceptional leader committed to excellence in everything he does. Pennoni has been overwhelmingly successful and is a coveted place to work, thanks to his dedication and expert leadership,” said Norma Jean Mattei, president of ASCE. Bartolomeo is a respected and recognized leader in both the greater Philadelphia region and the architecture, engineering, and construction industry as a whole. During his time on former Pennsylvania Governor Tom Corbett’s Marcellus Shale Advisory Commission, Bartolomeo’s efforts directly contributed to greater measures regarding the safe, efficient, and environmentally responsible extraction and use of unconventional natural gas reserves in Pennsylvania. As past chairman of the Board of the World Trade Center of Greater Philadelphia for seven years, Bartolomeo was instrumental in accelerating global business growth

for companies in the greater Philadelphia region. Under his direction, the WTGCP assisted companies in generating more than $1 billion in increased export sales, creating more than 12,500 jobs. The growth and success of the WTCGP during his tenure reflects his dedication and support for the organization, earning Bartolomeo the Philadelphia Business Journal ’s Outstanding Director Award in 2014. Under Bartolomeo’s leadership, Pennoni has grown to more than 1,200 employees in more than 30 offices across the country. Offering a variety of planning, design, and construction services, the firm is committed to delivering projects that are innovative and resilient, that are cost-effective throughout their duration of use and meet stringent standards of quality. Across all market sectors, Pennoni works with project owners, end users, stakeholders, and teaming partners to develop solutions that help to close the ever-widening infrastructure gap, truly making Pennoni a “partner for what’s possible.” Bartolomeo joined Pennoni in 1986 and has more than 40 years of engineering experience. Bartolomeo holds a bachelor’s degree in civil and urban engineering from the University of Pennsylvania.

Integrated culture can’t be forced. Like a successful project, it needs to be designed and again, effective communication is key. It’s imperative that before any transaction takes place, that an integration plan is developed. The seller must encourage staff to engage and spend as much time as possible with the buyer. It’s the buyer’s responsibility to engage the seller, make efforts to cross pollinate, and promote internal relationships across senior, mid, and junior level staff. As with any transaction, it’s natural to feel remorse after completion. Problems will arise and success is determined by the solutions applied. The buyer and seller should meet early and often to continually improve the integration process. As the seller, embracing change is key. As the buyer, it’s important to keep focused on the end-goal, but realize the journey is just as important. M&A’s are long- term solutions for both the buyer and the seller. Patience is the key. As Steve Jobs once said, “If you really look closely, most overnight successes took a long time.” JOSEPH VISCUSO is Pennoni’s senior vice president and director of strategic growth. He can be reached at jviscuso@pennoni.com. “If there is no in-house ‘heir,’ you lack capital, and no foreseen opportunities in outside markets or geographies, you and your firm may better benefit as the seller.”

JOSEPH VISCUSO, from page 11

change with them? Announcements must be strategic and planning this transition is key. The last thing you want to do in this situation is leave your loyal employees out of the loop due to a lack of communication with them. A well thought out path needs to be planned in order to maximize your value. Determining value is an artful dance between the buyer and the seller. Know your approximate value and utilize tools available to aid in this determination. Be aware that firms can have different values depending on the needs and strategy of the purchasing partner. Although much preparation is to be done by the seller, the buyer must put in effort as well. The most important decision, even more than financials, is deciding what role the merger or acquisition will fill within the buying organization. Do they add value to a specific geography or market sector? Do they provide more employees to handle the growing backlog? “If your firm has the capital, perseverance, and culture that can cultivate growth from an exterior source, you may be well positioned as a buyer.”

THE ZWEIG LETTER February 27, 2017, ISSUE 1189

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