FOCUS ACOUSTI ENGINEERING Engineering a management transition to reignite growth Randy Keller, President and CEO, Kevin Kruse, Managing Director, Acousti Engineering Ardian North America Fund Todd Welsch, Managing Director, Ardian North America Fund Ardian North America Fund’s willingness tomore, it had been run by the controlling family and take on more complex situations unlocks valuethe outgoing management mainly to generate cash in a specialist construction contractorrather than to grow the business. Kevin Kruse: What was interesting for us aboutRandy Keller: We have grown organically since this transaction was that Acousti is the clear leaderour inception in 1946 and currently have eighteen among interiors prime subcontractors primarily inbranches located primarily in the south eastern US the south-east of the US with a unique scale andand another branch located in Texas. Corporate range of services. And yet for the past decade orheadquarters is located in Orlando, Florida. 82 INVESTMENT ACTIVITIES