In three short years, the design-build firm Katerra has grown from a Silicon Valley entrepreneur’s bright idea into what could become one of the largest commercial/residential design-build firms in the country. The strategy: vertically integrate every layer of construction, from architecture to the fixtures and subcontracting, in order to lower costs, build faster, and raise quality. The means: venture capital (over $1 billion so far) plus acquisitions of existing companies in the building and products industry.
Now Katerra is moving to buy architecture firms. In May, it acquired the mass timber innovator Michael Green Architecture of Vancouver, with a staff of 25. And as of today, Lord Aeck Sargent has joined Katerra’s ranks with 160 people and six offices sprinkled from Atlanta to Ann Arbor, Michigan. The two mergers offer insights into the depth and breadth of Katerra’s strategy.
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