CannonDesign is acquiring and merging with Astorino, a Pittsburgh-based multidisciplinary firm in a deal that strengthens processes, assets, and opportunities for both firms. The merger increases collective capabilities, opens new markets, and enhances value for clients.
The firms cited their close alignment on values, vision, and culture as the foundation of the new relationship—both CannonDesign and Astorino place a premium on design solutions that address unique challenges faced by clients.
“Together, our talented professionals will pursue outcome-based design solutions that optimize our clients’ performance,” commented Gary Miller, Co-Chairman and CEO of CannonDesign. “This merger brings added value and opportunity to both organizations.”
The merger also extends CannonDesign’s presence in the markets Astorino currently serves and positions the firm to expand capabilities into industry innovations for project delivery offering increased choices for clients.
A Design-Led Design-Build division to be managed from the Pittsburgh office will advance innovative methods for project delivery. Louis P. Astorino, Jr., who spearheaded Astorino’s Design Led-Design Build practice group during the last decade, will lead this strategic growth initiative nationwide.
“CannonDesign is a recognized global leader, and we’ve partnered on projects in the past,” said Louis Astorino, Jr., CEO of Astorino. “We are compatible in culture, and complementary in talent, experience and capabilities. This is a superb opportunity for our team to work with CannonDesign’s professionals to expand and innovate.”
While strengthening the firm’s existing focus on healthcare, education, and corporate commercial markets, CannonDesign will gain access to Astorino’s breadth and depth of talent and experience in both standard architectural services as well as innovative processes in research, design, and construction. The firm also will gain access to a valued network of relationships in Pittsburgh and Abu Dhabi, vibrant regions with high growth potential.
Related Stories
| Aug 11, 2010
PCA partners with MIT on concrete research center
MIT today announced the creation of the Concrete Sustainability Hub, a research center established at MIT in collaboration with the Portland Cement Association (PCA) and Ready Mixed Concrete (RMC) Research & Education Foundation.
| Aug 11, 2010
Study explains the financial value of green commercial buildings
Green building may be booming, especially in the Northwest, but the claims made for high-performance buildings have been slow to gain traction in the financial community. Appraisers, lenders, investors and brokers have found it difficult to confirm the value of high-performance green features and related savings. A new study of office buildings identifies how high-performance green features and systems can increase the value of commercial buildings.
| Aug 11, 2010
Architecture Billings Index flat in May, according to AIA
After a slight decline in April, the Architecture Billings Index was up a tenth of a point to 42.9 in May. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. Any score above 50 indicates an increase in billings.
| Aug 11, 2010
Architecture Billings Index drops to lowest level since June
Another stall in the recovery for the construction industry as the Architecture Billings Index (ABI) dropped to its lowest level since June. The American Institute of Architects (AIA) reported the August ABI rating was 41.7, down slightly from 43.1 in July. This score indicates a decline in demand for design services (any score above 50 indicates an increase in billings).
| Aug 11, 2010
RTKL names Lance Josal president and CEO
Lance K. Josal FAIA has been named President and CEO of RTKL Associates Inc., the international planning, design and engineering firm. Josal succeeds RTKL’s current President and CEO, David C. Hudson AIA, who is retiring from the firm. The changes will take effect on 1 September 2009.
| Aug 11, 2010
Balfour Beatty agrees to acquire Parsons Brinckerhoff for $626 million
Balfour Beatty, the international engineering, construction, investment and services group, has agreed to acquire Parsons Brinckerhoff for $626 million. Balfour Beatty executives believe the merger will be a major step forward in accomplishing a number of Balfour Beatty’s objectives, including establishing a global professional services business of scale, creating a leading position in U.S. civil infrastructure, particularly in the transportation sector, and enhancing its global reach.
| Aug 11, 2010
Construction unemployment rises to 17.1% as another 64,000 construction workers are laid off in September
The national unemployment rate for the construction industry rose to 17.1 percent as another 64,000 construction workers lost their jobs in September, according to an analysis of new employment data released today. With 80 percent of layoffs occurring in nonresidential construction, Ken Simonson, chief economist for the Associated General Contractors of America, said the decline in nonresidential construction has eclipsed housing’s problems.
| Aug 11, 2010
Billings at U.S. architecture firms exceeds $40 billion annually
In the three-year period leading up to the current recession, gross billings at U.S. architecture firms increased nearly $16 billion from 2005 and totaled $44.3 billion in 2008. This equates to 54 percent growth over the three-year period with annual growth of about 16 percent. These findings are from the American Institute of Architects (AIA) Business of Architecture: AIA Survey Report on Firm Characteristics.
