Listing Price: Market Value
Location: Carolinas
Intro
This long-standing and highly profitable architecture firm focuses on industrial and commercial work, primarily in the Carolinas. The firm works with a prestigious list of clients year-in and year-out. In preparation for retirement, the owner and principal are pursuing a sale of all, or a majority, of the firm. This opportunity is a good fit for a firm interested in expanding into a growing geographic market with a strong outlook for the particular construction type they specialize in.
Strong Recurring and Repeat Revenue
Approximately 60% of revenue over the last three years has come from repeat clients, including long-term relationships with regional and national developers, commercial contractors, and owners. The nature of these relationships combined with the duration of their projects leads to predictable revenue and a strong foundation for future growth.
Solid Profitability and Margins
The firm has consistently maintained adjusted EBITDA margins above 20% through the deployment of technology and a lean, productive team structure, supplemented by outsourced work where appropriate. High staff utilization and efficiency contribute to stable financial performance, with room to scale through technology and resource allocation.
Recognized Expertise and Reputation
With roughly 30 years in operation, the firm is well regarded for its expertise in cutting edge, innovative design and has received multiple awards. Its focus on industrial and commercial projects positions the firm well for continued, strong demand in those sectors, given the expected growth of the logistics and e-commerce corridor they serve.
Deep, Experienced Team
Beyond the founding principal, the firm is supported by a team of long-tenured architects, project managers, and designers with deep sector knowledge and a focus on client service. The owner is willing to stay on for an extended timeframe to ease the transition and key staff are expected to remain post-transaction, ensuring continuity.
Healthy Pipeline and Backlog
As of March 31, 2025, the firm has a contracted backlog of over $10.1M. The active proposal pipeline includes multiple shortlisted projects and RFQs.
Attractive Market Dynamics
Based in the Carolinas, a growing region of the country, the firm is well-positioned to benefit from continued infrastructure investment and private development. Its relationships, expertise, and niche in industrial tilt-up concrete construction are a significant strategic advantage.
Systems-Driven, Tech-Enabled Workflow
The firm utilizes Revit, a leading Building Information Modeling software, and AutoCad 2023 to create and manage detailed 3D and 2D models of buildings, infrastructure, detailed drawings, and technical documentation. QuickBooks is used to manage the accounting.
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Mike comes to the Viking team with over 30 years of leadership and entrepreneurial experience in accounting and finance, operations, and sales. He has a broad background across a variety of businesses, in nature and in scale, as well as extensive merger and acquisition experience. He has been successful in industry consolidation, turnaround, and start-up situations.
Soon after beginning his career as a CPA for a major accounting firm, Mike was recruited into a client’s corporate accounting group, where he quickly determined that his interest – and value – was with the company’s operations. That led to a series of divisional CFO roles for a number of different businesses, culminating in Mike becoming the corporate CFO. In that role Mike played a key part in developing and executing the growth strategy for the business, focusing on industry consolidation. Over the ensuing 8 years, the company completed more than 40 deals and was itself later sold at a substantial market premium. Mike then went on to run an industry-leading, multi-site manufacturer, where he led a dramatic turnaround in profitability. Following Mike’s exit from the corporate world, he chose to focus on more local and entrepreneurial ventures, first in consulting and later starting his own distribution business in Charleston, SC. Through that experience, he came to appreciate the unique challenges and opportunities of business ownership. Those insights along with his extensive management and deal experience are ideally suited to assist Viking’s clients.
Throughout his career Mike has come to be known for his objectivity in making important business decisions, his innate analytical skills, and his ability to connect with people from all walks of life. Mike aligns well with all of Viking’s core values, in particular integrity, innovation and collaboration.
Mike is the youngest of seven and the only family member to earn a college degree, a BS in Accounting from the University of Scranton. He and his wife Niki have five children. Away from work they enjoy boating, playing tennis, and cooking.
