NELSON to join operations with VeenendaalCave, establish “Super Region” in Southeast
NELSON, one of the fast-growing global architecture, interior design, engineering, and consulting services firm, has signed a letter of intent to join operations with Atlanta-based interior design firm VeenendaalCave, Inc. (VCave). The deal plans to close on June 30th and cap 100% growth for NELSON over the past 18 months.
“This move to advance our position in Atlanta has been a strategic objective for NELSON for some time,” said Ozzie Nelson Jr., Chairman and CEO of NELSON. “Atlanta is the gateway to the southeast - and represents the third largest market for Fortune 500 companies and a growing economy of more than $300 billion annually. In VeenendaalCave, we feel like we’ve finally found the right fit. We’re impressed with not only their operational approach and potential for expansion, but the brand they’ve built, and their inclusive and welcoming culture.”
The combination would mark the first by the fast-growing design giant in 2015, and further emphasizes the company’s move to expand its strategic position and services on both a national and global level. With a projected revenue of $12 million for the 2015 calendar year and an annual net fee revenue growth of 12%, VCave will represent NELSON’s largest acquisition to date. The addition of 85 Teammates will increase the firm’s Atlanta presence to a total of over 100 and the largest in its operation. NELSON would employ almost 600 teammates globally and bill over $80 million in net fee revenue. It will bring additional services to VCave’s 65 % of the tenant market.
The move to make the greater Atlanta-metropolitan area a lynchpin of integrated services to a focused variety of market sectors including Technology, Legal, Advertising & Media, Healthcare, Industrial, and Financial has been on the design firm’s radar for some time.
“Earlier this year we conducted an extensive nationwide search seeking an opportunity like this,” said Ed Cave, VeenendaalCave’s President. “NELSON exceeded our hopes for a firm we can combine with and continue the tradition we have for excellent service, uncompromising ethics and a robust corporate culture that our clients and associates want to be a part of.” Executive Vice President Christine Veenendaal added “A larger organization will provide all of us at VeenedaalCave will unprecedented opportunities, which ultimately, we will be able to pass on to our clients.”
The intent is effective as of May 21, 2015, and VCave will operate as VeenendaalCave, Inc., A NELSON Company until it completes a full transition into the NELSON brand.
VeenendaalCave, Inc. was founded as SmithCave & Associates by Robert F. Smith and Edward A. Cave in 1985. Shortly after Smith’s retirement, SmithCave & Associated changed its name to Veenendaal Cave, Inc. VCave focuses on its corporate office, healthcare, and industrial clients with a full range of interior planning and design services. For more information, visit www.VCave.com
NELSON is a global architecture, design, engineering, and consulting services firm with Teammates in 35 locations around the world and strong experience in a broad range of industries. NELSON works with more than 20 percent of companies in the Fortune 100. NELSON’s interior design practice is ranked in the top ten overall Interior Design “Design Giants”, and in the top 5 Giants focused on workplace design. For more information, visit www.NELSONonline.com.
Managing Director, Information Services
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