Successful M&A: A Strategy Leading To Rapid Growth with Joe Furey - Michael Graves

Building Scale

We interview successful Architecture, Engineering, and Construction (AEC) business leaders to learn how they use people, processes, and technology to scale their businesses.

Successful M&A: A Strategy Leading To Rapid Growth with Joe Furey - Michael Graves

E84 • Mar 19, 2024 • 60 mins

In this episode, we welcome back Joe Furey, President of Michael Graves Architecture & Design. We discuss his journey in the AEC sector, the growth of Michael Graves, and their future plans. We delve into acquisition processes, learning from past experiences, and the strategy of partnering with architecture firms. We also talk about integrating new departments and personnel, and reflect on lessons from their first acquisition.

Key Points

Successful AEC company scaling relies heavily on acquiring firms with strong design capabilities and a shared enthusiasm for collaboration under the Michael Graves brand.
Mergers and acquisitions in the AEC sector necessitate a balance of fair financial structuring and a focus on maintaining the integrity of the companies involved, ensuring no loss of jobs and leveraging existing talent.
The integration process after acquisitions emphasizes a methodical approach, with detailed plans for unifying IT, accounting, and other systems to maintain efficiency and growth without disrupting the core focus on top-line revenue and project delivery.

Connect with Joe Furey and Michael Graves Architecture & Design - LinkedIn: https://www.linkedin.com/in/jfurey/ Website: https://michaelgraves.com/ Email: [email protected] Connect with Justin & Will - Will's LinkedIn: https://www.linkedin.com/in/willforet/ Justin's LinkedIn: https://www.linkedin.com/in/justneagle/ Learn More & Connect With Spot Migration - Website: https://www.spotmigration.com LinkedIn: https://www.linkedin.com/company/spot-migration Facebook: https://www.facebook.com/spotmigration Youtube: https://www.youtube.com/c/Spotmigration Do you want to be a guest on the show? Go to https://buildingscale.net/guests Need to discuss your IT and Cybersecurity Strategy? Go to https://buildingscale.net/help

Speakers

Will Foret

Host • 10%

Justin Neagle

Host • 16%

Joe Furey

Guest • 74%

Chapters

0:00	Introduction to the Building Scale podcast and hosts
1:07	Introduction of guest, Joe Furey, president of Michael Graves Architecture & Design
2:15	Joe Furey's journey in the AEC sector and the expansion of Michael Graves
5:49	Recap of Michael Graves' growth and future expectations
11:41	Deep dive into the acquisition process and deal structure
18:27	Identifying and approaching potential companies for acquisition
28:26	Learning from past acquisitions and the uniqueness of each process
33:42	Growth strategy: Partnering with architecture firms and expanding physical locations
45:32	Integrating new departments and personnel into the firm
54:19	Lessons from the first acquisition and vision for the company's future
57:58	Wrap up, reflections on the interview, and promoting the Building Scale podcast

Transcript

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