NEW YORK, April 8, 2021 – PRIME AE Group, Inc. (PRIME AE), a NewHold AEC company, announced today that it has acquired Penza Bailey Architects (PBA), an architecture firm located in Baltimore, Maryland, specializing in innovative design solutions supporting the K-12, Higher Education, Justice, Federal, Commercial, and Custom Residential markets.
With more than 40 years of experience delivering architectural design, interior architecture, and planning services for private and public clients of all sizes, PBA, now Penza Bailey Architects, operating as a Studio of PRIME AE, has a strong reputation for delivering innovative and award-winning solutions to their client’s project challenges. The PBA staff and portfolio of projects and capabilities strategically complements PRIME AE’s architectural practice in Maryland and expands our capacity to support our local, regional, and national clients.
PRIME AE continues to expand its geographic footprint, service offerings, and capabilities through organic growth and strategic acquisitions, with this being PRIME AE’s third acquisition in the last three years.
“The hallmark of our success is offering client-centered solutions built around the framework of integrated building and interior solutions,” said Jeffrey Penza, Penza Bailey Architects Principal. “We are excited about joining the PRIME AE family and the opportunities this acquisition will create for our employees and clients.”
PBA is like-minded in PRIME AE’s commitment to enhance, maintain, and improve our communities in a responsible manner using innovative, sustainable, and sound architectural principals, while supporting the needs of the community and the environment.
“PBA possesses an outstanding portfolio of projects and a highly-talented team of professionals that support our efforts to strategically grow PRIME AE’s architectural footprint in the mid-Atlantic region,” said Kumar Buvanendaran, PRIME AE President and CEO. “We are thrilled that PBA shares in our strategic goals and to making a design impact across all of our architectural markets.”
About PRIME AE Group, Inc.
PRIME AE Group, Inc. provides a full range of services in architecture and engineering, construction management and inspection, transportation, and water resources. The firm’s philosophy of Connecting, Creating, Conserving, and Community forms the foundation for delivering high-quality, on-time, cost-effective solutions. A leader in the industry, PRIME AE Group is consistently ranked in the ENR’s list of Top 500 Design Firms.
NewHold is a holding company focused on long-term ownership and growth of North American, middle-market industrial and services companies. Established in 2017, NewHold operates through platforms which are built via acquisitions and organic growth of such companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle-market, industry-leading companies. Learn more at www.newhold.com.
Ree Miskimon, CPSM
Senior Director of Marketing and Communications
Penza Bailey Architects