Portland, Ore. — Otak, Inc., an award-winning engineering, urban design, architecture, planning, and project management firm, announced the acquisition of Loris and Associates, Inc. (LORIS), a Superior, Colo.-based civil and structural engineering firm, effective August 1, 2017. This merger will provide both firms’ Colorado clients with comprehensive engineering services and expanded capabilities in development-related planning and design.
“This acquisition combining Otak and LORIS is a key step in advancing our strategy of building our Colorado business and being able to provide the full range of Otak’s services to our Colorado clients. Colorado is a key market and it’s important for us to offer integrated services to our clients while providing a strong platform for future growth in the region,” said Otak CEO, James Hamann.
“The joining of our firms will dramatically expand the business growth opportunities for both firms while also offering significant career development opportunities for our employees. Client relationships are core to both firms’ business and, by joining forces, we maintain our relationship-based cultures while providing a wider range of services on larger projects,” said LORIS President, Peter Loris.
For Zweig Group, the Fayetteville, Ark.-based AE consultancy that sourced potential buyers for LORIS, there was no shortage of interest. “This deal reinforces the fact that Denver is among the hottest markets in the United States,” said Noah Hunt, a consultant with Zweig Group’s M&A services. “In three weeks, we had multiple offers, and that’s typically uncommon.”
LORIS will become a division of Otak and full integration activities are underway. Peter Loris and his senior management team will pay a key role in this process, working with a small group of Otak’s senior managers in Colorado to increase and diversify business in Colorado. The LORIS team will continue to work from their Superior office and will collaborate closely with Otak’s current offices in Boulder and Denver.