LEO A DALY completes strategic partnership with with Hennick & Company
(UI) – Hennick & Company, has completed a long-term strategic partnership with Leo A Daly, LLC (“LAD”) and Lockwood, Andrews & Newnam (“LAN”). With 26 offices located across the United States, LAD and LAN (“LEO A DALY”) employs 850 professionals providing architecture, planning, engineering, program and project management and interior design services.
As part of the transaction, 42 senior employees have acquired a 25% stake in the firms. This marks the largest expansion of equity ownership in the company's history. For the 12 months ending February 29, 2024, LEO A DALY generated combined global revenues of $232 million.
Founded in Omaha, Nebraska in 1915 by Leo A Daly I, and family-owned for over a century, LEO A DALY is one of the oldest and largest firms in the United States in its industry. Lockwood, Andrews & Newnam was founded in Texas in 1935 and merged with LEO A DALY in 1991.
Today, the combined companies provide services to a wide range of industries, including critical infrastructure. Clients include federal, state, and municipal governments, real estate developers, corporate end-users, and prestigious academic institutions in the United States and beyond.
Going forward, Leo A Daly III will remain as Chairman of LEO A DALY and LAN to ensure each firm's legacy and culture continue to thrive. All members of LEO A DALY’s senior leadership, including Edward Benes, James Brader, Steven Lichtenberger, John Somerville, Wayne Swafford, and Stephen Gilbreath, have become equity shareholders and will continue to lead the company’s day-to-day operations to provide stability for key talent, clients, and stakeholders.
Leo A Daly III, Chairman, said, "I am incredibly proud of the legacy my family has built over the past century, the projects we've completed for our valued clients, and the dedicated employees and leadership teams who have been the backbone of our companies. As a family-owned business since 1915, it was important to me to pass stewardship of our family’s namesake to the very professionals who have been so loyal to us for so many years. I couldn’t be more pleased with the new partnership with HennickCo and I look forward to an exciting future together."
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