Cedarburg-based architecture firm
Groth Design Group founder
Mike Groth has sold his interest in the business to longtime employees
Peter Schneider,
Mike McGraw and
Peter Damsgaard, who intend on continuing the firm's steady growth into the next generation.
"All of us kind of grew up here, cut our teeth within the firm," Schneider said. "Now, we want to make sure we keep the firm in a good position."
Schneider, McGraw and Damsgaard will serve as partners. Groth intends to continue to be actively involved with the company in an advisory role during the next year.
Terms of the transaction were not disclosed.
Groth founded the firm in 1994. He built its initial portfolio in the religious and nonprofit markets but about two decades ago expanded into corporate, health care, senior living, education, hospitality and community markets. With around 40 employees, Groth Design Group has offices in Cedarburg, Milwaukee and Appleton.
"We have a good thing going here and the intent is just build on what we we have already established and help further shape the foundation (Mike Groth) started," Schneider said. "I think there's room for growth in all of our market sectors. We're kind of a mid-sized firm in the architecture world, so there's room for our staff to grow, as well as geographically. Our Appleton office is a little over two years old, and we've had great success in the northeast side of Wisconsin, but I want to continue to build on that as well."
Schneider, Damsgaard and McGraw have all been shareholders in the company for about five years, according to Schneider.
"It was a gradual and long term succession plan that's that's kind of developed into a transition this year," Schneider said.
Groth was careful about who he invited into an ownership role, Schneider said. The three incoming partners had expressed interest in further leadership roles, had the right skills to do it, and are at an age that will allow them to lead the firm for years to come.
"We've had an opportunity to grow up here and have had a lot of leeway to explore different avenues and tasks to find ourselves as professionals," Damsgaard said. "We all have different skill sets that are very complimentary to each other, which made the idea of taking on this role as a team really compelling to me."
"In the succession planning process, you navigate a lot of worst case scenario conversations to make sure, if something does go sideways, we've all thought about it and talked about it," Schneider said. "I think that's another way our partnership really formed a strong bond."
The leadership transition comes as the firm recognizes three decades in business. Recent notable clients include Marquette University, Sixteenth Street Community Health Centers, Children’s Wisconsin, Cedarburg School District and Annex Wealth Management, among several others.
"We're designing for the organizations, but ultimately for their missions as well, which can be really rewarding," Damsgaard said. "It's hard to pick favorite projects, but I've really found a lot of interest in working with younger entrepreneurs. Mobcraft is a good example of that. Two guys that had a mission, they had drive. They almost didn't know what they didn't know, which made it really interesting and fun because we could think outside the box."
Groth Design Group has also expanded its reach beyond the Midwest with work in Florida, Arizona and New Mexico.
"Our biggest long term goal as an ownership group is really stewarding this ship for the next generation," Schneider said. "That's about 20 years out, but we really want to keep what we have moving forward, and then be able to turn it over to the next group to carry it into the future."
