PRIME AE Group, Inc. (PRIME AE) has announced a strategic partnership with NewHold Enterprises LLC. PRIME AE will continue to be led by President and CEO Kumar Buvanendaran, the single largest shareholder of the partnership, and NewHold will serve to provide investment in PRIME AE’s long-term growth and success in the AE industry.
NewHold will provide capital, as well as industry expertise, and intends to leverage its relationships to strategically enhance PRIME AE’s reach on a national scale. In partnership with NewHold, PRIME AE will build on its rapidly expanding brand that today reaches clients throughout the Midwest, Northeast, mid-Atlantic, and Southeast regions. NewHold supports PRIME AE’s on-going organic and acquisitive growth through the company’s business lines and regions.
“This partnership is a major milestone for the company and our PRIME AE family. We are thrilled to partner with a forward-thinking investor group to advance the progression and growth of this outstanding company,” said Kumar Buvanendaran, President and CEO of PRIME AE. “NewHold is investing in PRIME AE’s brand, history, and people, three critical elements that will continue to drive the success of this company.
NewHold is a long-term investment holding company supporting middle market firms through capital investment and industry experience to assist firms in organic and acquisitive growth. NewHold’s architecture and engineering platform is led by Kurt Bergman, an accomplished industry executive with over thirty years of experience. “PRIME AE’s culture and vision of the architecture and engineering future are well aligned with NewHold’s approach to the industry,” said Kurt. “We are excited about our partnership and the opportunity to continue to grow PRIME AE’s capabilities and geographical presence.”
“We have been studying the engineering and architecture sector for more than a year in search of the right platform and are thrilled to partner with PRIME AE. We are excited to work with Kumar and the management team for many years to come and look forward to continuing their impressive growth,” said Charles Goldman, Co-Chairman of NewHold Enterprises.