Since its incorporation in 2023 LCAB Holdings has been in the process of, as COO Jeff Tegman says, “building a diversified portfolio of commercial construction subcontractors.” The path to achieving this goal is in the clever acquisition of well-established companies – some of whom are at pivotal moments in their journeys – that may ultimately join forces under the LCAB umbrella to benefit from greater efficiency and operational synergies. “There’s opportunity right now in the acquisition space,” Jeff says. “A lot of baby boomers have founded and built successful companies, and by virtue of the population and the age, a lot of these companies are becoming available for some form of transfer. In many cases there’s not a natural son or daughter that wants to or is available take that on. That’s where we come in as an acquirer.”
LCAB recognizes that not all family-owned companies are naturally handed down to the next generation, and its mission is in the belief that just because the family link may break, the company doesn’t have to. “It’s not too different from when either a smaller corporation or a large one comes together as a way to realize cost savings and synergies. That is a part of what we’re doing, but we’re not sticking to a single trade such as roofing, we’re building a portfolio that has a variety of critical services that any mid to large size commercial construction project would need. Our thought process is that we can provide a one stop shop for customers. We’re buying companies that have long standing customer relationships, and those will continue to move forward. But at its core, as we’re building the portfolio out, eventually there’s going to be opportunity there for those individual companies to refer business to each other and cross sell.”
Wormley Brothers Enterprises, Inc., a roofing company, and Holt & Holt, Inc., a drywall and specialty contractor, are LCAB’s first acquisitions, both of which were handpicked by the holding company because, as Jeff puts it simply, “we just really liked them.” Wormley Brothers, one of Georgia’s most respected roofing contracting companies, brings years of success in the residential and commercial roofing space. “We closed on that business in December of ‘24, so we’re currently finishing up the integration phase with them,” Jeff says. “They’ve been in business for over 38 years, building a strong reputation for quality across most of the United States. We acquired the company from the founder, Bryan Wormley. It’s very much a family led business, and there are still family members who continue to work in the company today, including one of the Wormley Brothers. They focus primarily on the commercial construction sector, although in the past they have done some level of residential.” Wormley Brothers provides expert roofing services – primarily metal frame and membrane roofing – to a variety of different projects across multiple sectors. “A lot of restaurants that you see in the Atlanta area,” Jeff says, “then some larger projects too, like assisted living communities. There’s a lot of really great work that’s gone on in innovative products for roofing, and Wormley has really stood out with the two major suppliers, Duro-Last and Carlisle SynTec Systems. Maybe people don’t think of roofing and innovation going hand in hand, but the roof is a critical piece to ensure the protection of the building and everything inside”.
Well respected in the industry for its quality and innovation, Wormley Brothers has a number of notable awards and accolades to its name. Most recently, the company won the Duro-Last Platinum Contractor Award for the eight consecutive year, as well as securing the Carlisle SynTec Systems Perfection Council Induction. Both of these achievements are a testament to Wormley’s unwavering commitment to excellence in roofing services. “They’re very dedicated to quality and customer service,” Jeff says, “and so they have a great reputation. When the opportunity came up to acquire Wormley we were very excited, and certainly very excited when we finally got it across the finish line.”
“When the opportunity came up to acquire Wormley we were very excited, and certainly very excited when we finally got it across the finish line.”
As a newer holding company, LCAB has adopted a rich history through the companies it has acquired. “Wormley has grown since 1987 and gone through different evolutions,” Jeff says, “through the mix of its customer base to focusing on the commercial space, specifically with metal and membrane products which is a core part of what they do now. Going forward, we’re very excited as the parent company to have
Wormley as part of the portfolio because of the reputation they carry.” Of Wormley Brothers rich project portfolio that spans almost four decades, Jeff highlights a few projects that he believes show the diverse cross-section of people the company has impacted. There’s Love’s Travel Shop, a big truck stop in Valdosta GA that serves as a major logistics hub as well as a gas station, convenience store, and other services for freight carriers. One of the company’s larger projects is the Building Kidz Phase 2, a Child Development Centre which offers infant, toddler, pre-school and kindergarten programs in the Roswell area of Georgia. “Another one that stands out is Annandale Ville,” Jeff says of an assisted living facility in Suwanee, GA that specializes in helping people with brain injuries. “It’s a pretty cool project from a construction perspective, but it’s always fun to understand the people that are behind the project, and who’s staying dry under that roof.”
So, what does the future hold for LCAB, a holding company equipped with the experience and legacy of its acquisitions, along with the energy and excitement that comes with being a newcomer to the industry? “We’re currently in a pretty heavy acquisition cycle,” Jeff says, “and so that’s what we’re balancing right now, helping to integrate the companies that we have acquired and helping them take a fresh look at their systems and processes. For companies that have been in business for 35 or 40 years, sometimes there’s a natural tendency to fall into habits, but as much as possible we try to take the “if it’s not broke, don’t fix it” approach. We’re trying to take the expertise and the resources that LCAB brings to the table and find where we can add value to those organizations. But generally, we acquired these companies because they’re already very successful and have a strong team in place. These aren’t turnaround projects, these are very well vetted companies that we know have solid financials and solid operating systems in place that we want to capitalize on, and to make sure that they continue doing what’s made them so successful over the years. “Prior to the Wormley Brothers’ acquisition, we acquired its sister company, Holt and Holt,” Jeff says of another exciting addition to the LCAB family. Holt & Holt is a drywall company with over 40 years of experience delivering top-quality drywall, metal framing, sheathing, insulation, and acoustical services for commercial projects such as schools, churches, hotels, retail and office buildings. “We’re looking at opportunities for them and seeing where we can bring more value to their customers as their portfolio grows.” Together, these two companies have laid the foundation of LCAB’s ultimate goal, which is to build a portfolio of key trades in commercial construction and simplify the process for commercial developers.
“Employee benefits is one example of where we have started to see the portfolio strategy pay off,” Jeff says of LCAB’s continuous in-house improvements. “This was always part of our strategy – how can we provide the best to our employees and potentially do so at a better cost? We reviewed the health plans so that the carriers look at and quote for the combined organization as opposed to the individual companies, and we’re very pleased to see that the strategy is working. The rates are significantly better than what they’re currently paying. We’re excited about being able to help from a financial perspective by cutting costs where it makes sense, but not at the expense of quality. We can provide better benefits and better options for the employees, at a better cost to the organization. As we continue to grow and expand through both acquisitions and organic growth, we see even greater potential for opportunities and supply chain efficiencies. For example, if we’re buying X amount of steel across all of these organizations, we can start to use that buying power to get better pricing, and find better suppliers that can potentially service the companies better.” Moving through this cycle of growth, LCAB continues to find opportunity and to step in as acquirer, not to overstep or disrupt, but at pivotal times during which change is a necessity. In this sense LCAB is in the business of taking something great, and by process of simplifying and streamlining, elevating it to new heights”.
