A Menlo Park company called Katerra announced that it had acquired Michael Green Architecture, a 25-person architecture firm in Vancouver, British Columbia. On June 12, the company revealed that it had bought another, larger architecture firm, Atlanta-based Lord Aeck Sargent. This comes five months after Katerra raised $865 million in venture capital from funders led by SoftBank’s Vision Fund, which has also invested heavily in the co-working startup WeWork. — City Lab
Startup Katerra looks to revolutionize the construction industry through streamlining the entire process with their design-build model. The company has acquired Michael Green Architecture, known for designing tall wood buildings, and Lord Aeck Sargent.
With these two firms obtained, Katerra will now consolidate by designing and building its products in house. Michael Green Architecture's influence can be seen as Katerra is developing a catalog of mass timber products for residential and commercial building projects. Uniquely Katerra has also created a system to guarantee price early on, a rarity in the industry.
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