Cianbro announces its acquisition of A/Z Corporation, a Connecticut-based engineering-construction firm providing diverse industry services including design, construction, maintenance, and energy management, with a focus on technology-oriented markets.
Cianbro announced its acquisition of A/Z Corporation, a Connecticut-based engineering-construction firm providing diverse industry services including design, construction, maintenance and energy management, with a focus on technology-oriented markets.
Headquartered in North Stonington, Conn., A/Z has offices and on-going operations in the Northeast and Mid-Atlantic states. As a wholly-owned subsidiary of Cianbro, A/Z Corporation will retain its name, and the company's owner, Perry Lorenz, will remain as president of A/Z Corporation.
All of A/Z Corporation's 500 team members will also join the Cianbro team and its' Employee Stock Ownership Plan.
Founded in 1949, Cianbro is 100 percent employee-owned with approximately 4,000 team members operating in 41 states. Cianbro performs work in diverse construction markets including industrial, manufacturing, infrastructure, power and energy, and building. Cianbro also invests heavily in workforce development through The Cianbro Institute, a professional growth and education center located at the Pittsfield, Maine, campus.
"Cianbro and A/Z are compatible organizations with very similar philosophies towards people, operating culture, workplace safety and towards their respective clients," said Andi Vigue, CEO of Cianbro. "We each grew from small family-owned companies with devoted hard-working employees who are experts in their profession. The A/Z Corporation culture fits very well with the Cianbro culture, work ethic and an unwavering commitment to team member health and safety. We are excited to welcome the A/Z team members to the Cianbro family."
"The integration of A/Z is a significant opportunity for both organizations," said Richard Brescia, vice president of Cianbro. "We have been in business for 70 years and continue to find new ways to innovate, grow, and diversify our operations. A/Z Corporation is well respected in the industry and it excels in higher education, manufacturing, science and technology, healthcare, mission-critical and energy markets. There are common aspects between our companies and there are significant opportunities to learn from each other and grow within our various business markets."
"My father founded A/Z Corporation more than 50 years ago. This transition is special and it's important to me that the legacy of this company will be retained. It is great to see that our team members will become part of a growing, employee-owned organization," said Lorenz. "I first worked around Cianbro when I was working for my father in 1986 on a job site in southeastern Connecticut. I learned quickly that we have a lot in common in terms of how we value our people and clients.
"Joining the Cianbro family creates greater stability and sustainability for our employees and clients. It also means that nothing will change in our current working relationships. Knowing that this transition results in stability while keeping our operational strategies intact is a perfect scenario. I couldn't feel any better or be more excited about our collective future."
"At Cianbro we say ‘It's all about people'," said Mike Bennett, vice president of Cianbro. "Our team members own the company and take a lot of pride in their work. A/Z Corporation's team members are equally devoted and dedicated to their work and bring significant experience and expertise to our business."
Peter Vigue, chairman of Cianbro's board of directors said; "As part of our growth strategy, we evaluate strategic acquisition opportunities very carefully and thoughtfully to understand if there is cultural ‘fit' within the entire organization. In the case of A/Z Corporation, joining the companies together made perfect sense given our similar backgrounds and cultures. This will expand our capacity, our reach, our skill sets, and our abilities to learn from each other. This is a great outcome for Cianbro and for A/Z Corporation, and I am very excited about our future."