Wednesday, July 06, 2016
Small Business Success Story - N.K.Bhandari Architecture & Engineering
Each year the New York Small Business Development Center recognizes outstanding small businesses in a variety of ways. This Success Story from the Onondaga SBDC appears in our 2015 Annual Report.
Christopher R. Resig
Christopher R. Resig, became President and owner of N.K. Bhandari Architecture & Engineering, P.C. (NKB) in January 2015 after his brother Jim became ill. Chris has been with the firm for 18 years and he and his brother became co-owners in 2012. The firm acquisition was a private transaction that involved both financing by the seller and cash provided by the client. The seller also financed working capital with the client and the client secured a line of credit from Key Bank.
The sale saved 9 jobs and created 4 new jobs. Since becoming the owner, Chris has focused on growing and diversifying the business, and has been working with Advisor Joan Powers at the Onondaga SBDC on an ongoing basis to develop strategies and resources available for the acquisition and leadership transition. For more than 35 years, NKB has provided architectural and engineering services for federal, state, health, corporate, industrial, education, and facilities organizations. The firm’s projects include: restoration of the Hanley Federal Building in Syracuse; expansion of the Massachusetts National Cemetery in Bourne, MA; and a new parking structure at the Veterans Administration Medical Center in San Juan, PR.
Recently the firm has been selected as the most highly qualified small business design firm and probably will be awarded a $12,000,000 term contract with the General Services Administration Special Projects Division. For this contract, NKB would provide architectural and engineering services throughout the northeastern United States at a wide range of Federal installations. As a result of this contract and other revenue streams, Chris is assessing office requirements for existing and new employees needed to satisfy the anticipated workload.