Stengel Hill adds partners, seeks larger office
February 19th, 2007
Louisville firm Stengel Hill Architecture has revamped its ownership structure to include four new partners.
Steady growth in revenue prompted the management changes and led the firm to launch a search for a larger office.
The new partners, James Watkins, Todd Wieringa, Paul Edwards and Mark Spies, were project architects for Stengel Hill. Last month, they joined company founders Bradford Stengel and Charles Hill as owners.
Terms of the deal were not disclosed.
Benefits of transition
Stengel said naming the new partners is both a reward for key employees and an impetus for them to work harder to help the firm grow. The new owners also will enable more efficient management.
As the firm has added clients, primarily in the healthcare sector, it has become difficult to maintain Stengel Hill’s practice of giving clients direct access to an owner.
Now, Stengel said, there are six owners to cultivate client relationships.
Firm steadily expanding
Customer relationships are critical since repeat business from existing clients and referrals have led to Stengel Hill’s growth.
The firm has averaged a 20 percent increase in revenue each year for the past five years, Stengel said. Last year, revenue totaled $4.5 million.
To help handle the firm’s increasing workload, graduate architect Justin Hutton joined the firm last month.
Stengel expects to hire at least two project architects this year as well as two production staff members.
With a growing staff and increased business, Stengel Hill is outgrowing its 6,000-square-foot building at 1764 Frankfort Ave.
Plans call for retaining the existing office building as an investment property and then either purchasing or building a 10,000-square-foot building in another location.