Roanoke-based Branch Group acquires L. A. Lacy
The Branch Group Inc. in Roanoke, one of Virginia’s largest construction companies, said Monday that it has acquired the assets of L. A. Lacy Inc. in Charlottesvile for an undisclosed price.
L. A. Lacy, a plumbing, HVAC and mechanical contracting company, will continue to operate under its current name. The company was founded in 1922. Jeff Lewis, who joined L.A. Lacy, in 2016, has been retained as president of the company.
J. William Karbach, CEO of The Branch Group, Inc. said in a statement that the acquisition “is a sign that we are doubling-down on our mechanical, electrical and plumbing (MEP) operations and supports our long-range strategic growth plans by significantly improving our go-to-market capabilities, scalability, and economy of scale, throughout the mid-Atlantic and Southeast United States.”
Karbach added that what he described as this “modest transaction is what we hope is the first of many future, more aggressive expansions into other MEP markets, positioning us for a 20-year market trajectory and beyond.”
The Branch Group, along with its subsidiaries, touches all aspects of the built environment through G.J. Hopkins, Inc. (another MEP business), Branch Civil Inc., and Branch and Associates, Inc.
The Engineering News-Record ranks The Branch Group as No. 209 among the top 400 largest construction companies in the U. S.
In 2017, Branch Group, a privately held company, said it had total revenues of nearly $400 million and a workforce of more than 800 employees. It operates as an employee stock ownership Plan (ESOP), which gives employees a vested interest in its growth.