January 10, 2013
By: Michael DeMasi
Source: The Business Review
EYP Architecture & Engineering, the largest architecure firm in the Albany, New York, area, bought certain assets of BJAC, a North Carolina-based architectural design and planning firm.
Terms of the deal were not disclosed.
The acquisition gives EYP its first offices in North Carolina — in Charlotte and Raleigh — and access to a strong base of higher education, research and healthcare clients.
BJAC has 17 employees, and will be known as EYP/BJAC as a result of the deal, which the firms described as a “strategic partnership.”
The firm will be led by EYP President and CEO Tom Birdsey and BJAC Founding Partner Lou Jurkowski.
“Our two firms are ideally matched in terms of cultures, markets and geographies, and we share the same long-term vision for the future,” Jurkowski said.
This is the first acquisition for EYP since the firm sold a minority stake to private equity firm Long Point Capital and moved its headquarters last year from downtown Albany to the Albany NanoTech campus at the University at Albany.
EYP has made clear its intention to become a $100 million firm through acquisitions and internal growth.
“We look forward to announcing additional growth opportunities to expand the value and services we provide in the very near future,” Birdsey said.
EYP had $73.3 million in billings in 2011, while BJAC had $6.3 million in billings. Estimates for 2012 were not available for either firm.
The addition of BJAC increases EYP’s staff to 300, including 105 at the Albany headquarters. Other offices are in Boston, Greenville, South Carolina, New York City, Orlando and Washington, D.C.
EYP’s portfolio includes more than 80 United States embassies around the world, the United Nations General Assembly hall in New York City, and the new, $365 million NanoFab X building at the UAlbany’s College of Nanoscale Science and Engineering.