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.
"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. The effective date of the acquisition was September 1, 2021. 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.
ABOUT ZWEIG GROUP
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. The firm’s mission, Elevate the Industry, has five tenets: promote, diversify, educate, change, and celebrate. Zweig Group’s vision is to facilitate action in pursuit of elevating individuals, firms, and thus the industry. More than a mission, this is a movement to advance the AEC profession, creating a world that celebrates the built environment and recognizes its impact on individuals, communities, and commerce. For more information, visit zweiggroup.com or call (800) 466-6275.