The Branch Group, Inc., VA’s Largest Construction Employer Announces Expansion Through Acquisition
A CONSOLIDATION THAT SUPPORTS LONG-RANGE STRATEGIC GROWTH.
On May 7, 2018, J. William Karbach, CEO of The Branch Group, Inc. announced the purchase of the assets of LA Lacy, Inc. Lacy will continue to operate under the same name.
According to Karbach, “This transaction is a sign that we are doubling-down on our Mechanical, Electrical, and Plumbing operations and supports our long-range strategic growth plans by significantly improving our go-to-market capabilities, scalability, and economy of scale, throughout the Mid-Atlantic and the Southeast United States. This modest transaction is what we hope is the first of many future, more aggressive expansions into other MEP markets, positioning us for a 20-year market trajectory and beyond. We welcome the employees of LA Lacy to employee-ownership. Lacy is well positioned for stability, a good run in the near future, and a promising trajectory.”
KEY MEMBERS OF LEADERSHIP TEAM NAMED.
Jeff Lewis, who joined LA Lacy, in 2016, has been retained as President of the company.
As a result of this transaction, and with the financial strength of Branch Group, the talented and tenured employees of this well-respected company will be able to even better serve their clients, customers, and communities. In the short term, LA Lacy will focus in its existing markets from their office in Charlottesville, VA.
A LONG HISTORY OF EXCELLENCE.
LA Lacy is committed to continuing a 90+ year tradition of building Plumbing, HVAC, and Process systems. Their goal is to continue to grow, but not to lose their personal touch of a “small local plumbing shop.”
ABOUT THE PARENT ORGANIZATION.
Headquartered in Roanoke, VA, Branch Group, Inc., touches all aspects of the built environment through G.J. Hopkins, Inc. (another MEP business), Branch Civil, Inc., and Branch and Associates, Inc. The organization is committed to exemplary performance and to developing business relationships sustained by mutual benefit and respect. In 2017, Virginia Business Magazine ranked Branch Group, Inc., as the largest privately held company in Virginia, west of Richmond, and Engineering News-Record ranked The Branch Group, Inc., #209 of the Top 400 largest construction companies in the United States.
In 2017, Branch Group had total revenues of nearly $400 million and a workforce of over 800 employees. Through its Employee Stock Ownership Plan (ESOP), it ensures that every employee has a vested interest in its success.