Member News – May 2021
Over the Finish Line
More than 130 riders participated in the BC&E Foundation’s Bike to Build fundraiser on April 24-25th! Participants of all ages took to the trails, bike paths and local roads in support of the construction industry’s future workforce. Our dedicated sponsors and committed bikers helped raise more than $7,000!
Congratulations to Tyler D. Rassa of Swirnow Building Systems, winner of the $150 giftcard to Dick’s Sporting Goods.
Thank you to our top-tier “Pacer” sponsors: Bunting Door & Hardware Co., Inc., Northpoint Builders, The O’Ferrall Group and to our “Finish Line” Sponsors: Delbert Adams Construction Group, LLC, KatzAbosch and Wohlson Construction.
Penza Bailey Architects acquired by Prime AE Group
Penza Bailey Architects is poised to expand its reach across multiple states and to additional clients as a result of its recent acquisition by Prime AE, a NewHold AEC company.
Under the terms of the deal announced in April, Penza Bailey Architects will become the architectural studio of Prime AE Group’s Baltimore location and lead the expansion of the firm’s architectural division.
“This is very, very exciting for us,” said Laura Penza, Principal.
The acquisition, she said, is a logical step in Penza Bailey’s sustainable growth path and will provide expanded access to capital and professional services, including Prime AE’s HR, accounting, legal and IT departments. That situation, she added, will enable Penza Bailey staff to dedicate more time to focus on what they love doing — architecture.
The acquisition will also “offer our staff opportunities to work on more and different projects, including projects in other states,” Penza said. “We can easily Zoom into the Prime AE Akron office or Columbus office and work with a team member there.”
Although Prime AE’s architecture and engineering operations are spread across multiple offices (including Akron and Columbus, Ohio, Pensacola, Florida and Baltimore), “we operate the practice as if it was one location,” said Dana Mitchell, Senior Vice President, Architecture and Engineering at Prime AE. “We share resources and opportunities across the geographies in order to best serve clients. That definitely provides opportunities for our staff to work on a variety of project types, clients and geographic locations.”
Penza Bailey Architects “is a very good fit for Prime AE,” Mitchell added. Penza Bailey’s practice areas overlap with some of Prime AE’s work, which has focused on federal contracts including for the Department of Defense as well as healthcare, higher education and justice projects.
“In some of those markets, such as justice, Penza Bailey has a very high reputation for their work. That enhances our ability nationally to pursue work in that market and penetrate markets that Penza Bailey already serves,” he said.
At the same time, Penza Bailey will sustain and separately brand one distinctive part of its work — namely, its high-end, custom residential projects.
“We do not want to lose the legacy and reputation that comes with the Penza Bailey name, especially in the residential market. So they will continue that part of the business as Penza Bailey Architects, a Studio of Prime AE Group,” Mitchell said.
The acquisition comes in the midst of a large, ongoing growth spurt for Prime AE. “Over the last 10 years, the company has grown from 25 to 50 employees to close to 500 employees now,” Mitchell said. “We have plans within the next 12 months to possibly double in size both through organic growth and acquisitions.”
BC&E welcomes new member
Sandy Spring Bank is the largest bank based in Maryland. The financial institution offers a broad range of commercial and retail banking, mortgage, trust, wealth and insurance services. Through its subsidiaries, Rembert Pendleton Jackson, West Financial Services and Sandy Spring Insurance, it also offers a comprehensive menu of insurance and wealth management services.