Ardurra Group acquires Pevida Highway Designers
Pevida Highway Designers (“PHD”), was founded in 2016 and became the fastest growing highway and bridge engineering design firm in Florida, achieving ~$15 million in revenue and 60+ people within 4 years. PHD initially engaged AEC Advisors as a Key Client in late 2020 to evaluate the company’s internal ownership transition plan and share best practices of financial management and reporting.
In 2021, PHD was regularly approached by larger AEC firms expressing interest in acquiring the firm. Joining a larger firm was appealing as it could accelerate PHD’s growth trajectory by leveraging potential relationships in neighboring states as well as pursuing larger, more complex design-build projects. However, the PHD team was wary that a larger firm might stifle their nimble and fast-paced culture.
PHD’s challenge was to find a culturally compatible partner that would embrace and accelerate the Company’s meteoric rise while also providing the leadership and project-related opportunities to meet the personal goals of their individuals.
PHD engaged AEC Advisors to discreetly explore the M&A market and help management assess if a compatible partner existed.
Our M&A experience and knowledge of the potential buyers allowed us to identify a narrow group of buyers and investors who might be a strategic and cultural fit for PHD.
AEC Advisors provided tremendous insight by exposing me to a wide network of engineering firms that had the cultural values and opportunities that I was seeking enabling me to take Pevida Highway Designers to the next level.
After discussions with several potential partners, Ardurra Group emerged as the perfect fit for PHD. Ardurra’s water/wastewater civil engineering focus, as well as its strong presence in Florida, was an ideal platform for PHD to lead and build a transportation practice. Ardurra has been able to offer leadership autonomy and financial and strategic resources to enhance PHD’s growth in Florida and neighboring states.
Pevida Highway Designers grew at an unprecedented rate and thanks to AEC Advisors, I was able to find a partner in Ardurra that can sustain our quest for building a premier transportation practice!