News

April 1, 2019

Richard L. Bowen + Associates Transitions to Employee-Ownership, Implements New Management Structure

Richard L. Bowen + Associates—a Cleveland-based architecture, engineering, and construction services firm—is pleased to announce that it is 100% employee-owned. This transition is the final realization of a plan put in motion nearly twelve years ago, when Bowen established an Employee Stock Ownership Plan (ESOP).

A change in leadership accompanies the transition of ownership. Allan Renzi assumes the role of President. Renzi has been at Bowen + Associates for over twenty-five years, most recently as Principal | VP of Operations.
“This is an exciting moment for Bowen + Associates,” says Allan Renzi. “Over the past sixty years, Richard Bowen has built a company on integrity, innovation, and dedication to Northeast Ohio. We are honored to accept the responsibility of building upon this legacy. The transition to full employee-ownership empowers us to develop a collaborative, creative, and inspiring environment for success. The ESOP then enables us to share the company’s success directly with our team.”

As President of Richard L. Bowen + Associates, Renzi will oversee day to day management of operations. A new management structure will install Directors for each component of Bowen’s practice. “With the transition to employee-ownership,” Renzi explains, “we wanted a new management system that encourages our principals and department leaders to share more responsibility while creating a defined path for growth within the firm.”

David Bowen now leads R. L. Bowen Construction Management LLC as President, having previously served as Vice President. The LLC, which is a wholly owned subsidiary of Bowen + Associates, offers full construction management and general contracting services.

About Richard L. Bowen + Associates, Inc.

Since 1959 Richard L. Bowen + Associates Inc. has combined talent, innovation, and technology to provide architecture, engineering, and construction services. Headquartered in Cleveland, Ohio with registrations across the U.S., Bowen serves public and private clients in a diverse range of industries including justice, governmental, transportation, education, office, multi-family housing, commercial development, and retail design.