It’s our high five. For the fifth time since 2007, RAND has made the Inc. 5000 list of fastest growing private companies in the United States. RAND, which was ranked 4,508, recorded $10.7 million in revenue in 2013, a 57% growth from 2010 and the highest since the company was founded in 1987. RAND was among the top 100 engineering firms on the list and the only New York engineering firm specializing in building restoration and design.
Capital Improvements for Co-ops, Condos
As in previous years, the mainstay of our growth has been repair and upgrade programs for residential cooperatives and condominiums. “Co-op and condo boards understand the importance of maintaining their buildings and taking on long-term capital improvement projects to increase the value of their properties,” said RAND founder and President Stephen A. Varone, AIA.
One area in particular that has contributed to RAND’s growth over the past three years is New York City’s Local Law 11/98, now known as the Facade Inspection and Safety Program, or FISP. RAND performed several hundred facade inspections during the 7th Inspection Cycle and designed and administered dozens of follow-up repair programs to keep buildings in compliance.
Oil-to-Gas Growth
In addition, RAND is assisting an increasing number of property owners who are converting their buildings’ heating plants from oil to gas. Some of those conversions are driven by a New York City Department of Environmental Protection rule amendment requiring buildings burning Number 6 heating oil to convert to a cleaner fuel by 2015. Other owners have been making the switch to gas or a combination oil/gas system because of the high cost of oil relative to gas. “Property owners are taking steps to make their building systems more efficient, and converting their heating plants to burn natural gas is a significant upgrade in that process,” said Peter E. Varsalona, PE, RAND’s Principal and head of our Mechanical/Electrical/Plumbing team.
Bigger Staff, Offices
RAND is growing in other ways, too. We’ve added 27 positions over the past three years and now have a total of 90 employees, the largest staff in our history. We’re also completing a major renovation of our office in Chelsea, expanding to three full floors and a total of 22,500 square feet.
“We have put in place an infrastructure that enables us to take on larger and more extensive projects while continuing to provide quality service to our clients,” Stephen said.
That’s reason for high fives all around at RAND.
(A longer version of this post appears on our website.)
