Quandel Enterprises, LLC Announces Family Succession Plan

Quandel Enterprises, LLC, announces the transition of Gregory Quandel, chief executive officer
of Quandel Enterprises; Jerome Urban, president and chief executive officer of Performance Construction Company; and Michael Murchie, executive vice president of Quandel Enterprises
and chief executive officer of J. Vinton Schafer Construction, LLC into leadership and ownership of Quandel’s family of companies.

Noble (Bud) Quandel, Jr., who served Quandel Enterprises as chief executive officer since 1977, is transitioning leadership and ownership after a successful construction career of more than 50 years. Bud will remain with the company as an executive chair and member of the Board of Directors through 2031 to facilitate a smooth transition.

“These gentlemen are proven leaders and have already been responsible for leading our construction services for Quandel and our Quandel brands. Under their leadership, we have driven outstanding performance. Together they helped put in place a broad range of operational and talent initiatives to position our company for an even more successful future,” stated Bud.

Bud is delighted to have his nephew, Greg; son-in-law, Jerome; and close friend and financial advisor, Michael, transition into this leadership and ownership role. Greg started with the company in 2009 as a project manager, became president and chief executive officer of Quandel Construction Group in 2019, and was named chief executive officer of Quandel Enterprises in 2020.

Jerome joined Quandel Construction Group in 2006 as an estimator and moved to Performance Construction Company in 2016 before being named president and chief executive officer of Performance Construction Company in 2019.

Michael was brought on to Quandel’s leadership team as a consultant and board vice chair and chief executive officer of J. Vinton Schafer, a Quandel Company, in 2020. He has been instrumental in the success of J. Vinton Schafer Construction, including their entry into the acute care construction market, as well as providing leadership experience to Quandel Enterprises. Prior to joining Quandel, Michael was a banking executive at M&T Bank.

“My goal was to have a family business continue and for leadership to have a financial interest and participate in the ownership of the business,” added Bud. “I am fortunate to have a phenomenal and superb leadership team, and I am confident in their intellect, insight, and execution abilities to move our company forward. They have a deep understanding of every facet of our business. Everywhere
I look, we have improved this company and its knowledge base. The quality of this team and their judgement and wisdom is extraordinary.”

The company spends considerable time planning for stability and continuity. Over the next ten years, Bud will continue to have a key leadership role and remain active as executive chair, connected to the Quandel family of companies, and involved in strategic initiatives and development opportunities. Above all, Bud’s wisdom, guidance, and mentoring over the next decade, will assist with the knowledge transfer.

“This is a legacy we are proud of and look forward to enriching, as we embrace the future,” said Bud. “We have been very fortunate to have five generations interested in the family business. This fifth-generation is going to take our business to the next level.”

“We are grateful to Bud for his steadfast commitment and tireless efforts over five decades to help make Quandel the company it is today. Through his efforts, we have a succession plan in place to ensure the smoothest possible leadership transition. On behalf of the strategic leadership team, we thank Bud for this opportunity and look forward to his guidance and mentoring through this journey,” shared Michael.

“With each transition, a commitment to doing the right thing and sustaining integrity and safety stays fixed. Now in the firm’s fifth-generation leadership, we are preserving our core purpose, mission, and values, while changing with the times,” Greg explains.

With this transition, the Quandel family of companies have moved to a limited liability corporation structure. The new firm names are:

• Quandel Enterprises, LLC
• Quandel Construction Group, LLC
• Pyramid Construction Services, LLC
• J. Vinton Schafer Construction, LLC
• Performance Construction Company

“Our family of companies reflect our growth over the past 140 years. We work together to capitalize
on our employees’ strengths and business line resources to meet the needs of our clients and
improve internal and external communications for our firm. Referred to by our staff as the “One Team
Approach”, it is a mindset for Quandel Enterprises’ family of companies. While the suffix in our names may have changed, our core purpose has not – Lead. Make a Difference. Build a Better Future,” said Jerome.