Top Company 2023: Construction & Engineering

Now in its 36th year, ColoradoBiz magazine’s Top Company Awards program recognizes businesses and organizations based in Colorado or with a significant presence in the state that are leading the way in their fields, as demonstrated by financial performance, notable company achievements and community engagement.

To be considered, Top Company entrants submitted applications throughout the year online at ColoradoBiz.com. From those entries, which numbered in the hundreds, the magazine’s editorial board narrowed the field to three finalists (in most cases) in each industry category. A judging panel made up of area business leaders and ColoradoBiz staff then met to compare notes on the finalists and decide winners in 14 industries plus the Startup category, for companies in business four years or less.

Congratulations are in order not only to the 41 winners and finalists profiled on the following pages, but to all the companies that took the time to tell us about their achievements and obstacles surmounted over the past year that make them worthy of Top Company consideration.


Winner

Kodiak Building Partners 

Highlands Ranch, CO

Website: kodiakbp.com

CEO Steve Swinney founded Kodiak Building Partners in 2011 to bring an economy of scale to the building materials sector. 

Kodiak has since acquired more than 100 locations in 25 states with 6,000-plus employees, as the revenue has soared in the last decade. 

Swinney called Kodiak’s “decentralized business model” a differentiator. “Unlike many competitors, Kodiak’s backend support has helped enable growth across its portfolio of brands, while maintaining local independence and decision-making autonomy,’ he says. “Kodiak’s financial success and growth is a testament to how well this model works. In the past five years, Kodiak has delivered more than 10 times the return on their original investment in transactions to acquire new operating partners.” 

It’s all about operational efficiency. Kodiak, for example, recently evaluated its accounts payable processes and reduced workloads by 80 percent, which enabled the team staffed around those tasks to refocus on other value-added projects. 

Fostering culture as a holding company has been a challenge, but a welcome one, Swinney adds. “It’s commonplace for holding companies to establish a standard ‘corporate’ culture that’s big on compliance and often lacking in personality. Kodiak took another approach in establishing its culture, intentionally embracing a decentralized model where the corporate office more often flies under the radar of its operating partner brands.” 

The strategy allows companies in the portfolio to build on existing strengths as part of a broader network of suppliers. “Kodiak doesn’t come in and conduct corporate shakeups,” Swinney says. “Communication flows both from the top down and from the bottom up.” 

Kodiak recently launched a program to support leadership development across the company: The inaugural class of Kodiak’s Emerging Leaders program graduated in spring 2023.  

Finalists 

Cooper Heating & Cooling

Broomfield, CO

Website: coopergreenteam.com

It’s all about energy efficiency at the largest residential HVAC replacement contractor in Colorado and the leading Daikin dealer in the state. Cooper Heating & Cooling — aka the Cooper Green Team — has been Xcel Energy’s top partner for furnace, AC and heat pump rebates for the last 13 years.  

Founded in 1978, the contractor has grown by leaps and bounds over the decades. “At almost 180 people, we are starting to grow out of that mom-and-pop shop, which is good and bad,” says owner and CEO Luke Cooper. “We are able to offer better insurance, 401(k) and other support, but it has been very important for us to keep that mom-and-pop feel.” 

The company has turned around after former leadership drove the company into debt about five years ago. “We were overdrawn on every account and on credit hold with every vendor in town.” said Cooper. “This was the hardest professional thing we have ever had to overcome, but it made us better in every way. Our team showed amazing support and together we became more efficient, structured, and successful by working together as a team.” 

I-KOTA LLC 

Denver, CO

Website: i-kota.com

Founded in 2010, I-kota is a general contractor specializing in the construction of multi-family affordable housing. The 52-employee company is now one of the top three builders in the affordable housing market sector in Colorado with more than 3,100 affordable units completed, as revenue more than tripled from 2019 to 2022. 

CEO Riley McLaughlin had to pivot in 2016 after his business partner left I-kota. “In this process, we implemented a new organizational chart, promoting three individuals from within the company, hiring an outside CFO, and sizing our business to commit to being a $50 million a year company,” McLaughlin says. “What I’m personally most proud of through this difficult organizational transition was that we had zero turnover in personnel and have a solid relationship today with our previous business partner.” 

McLaughlin says the company emphasizes people over all else. “We rewrite our business plan each year, and we do not put a growth percentage in there,” he says. “We believe that could be fueled by ego and as a company we attempt to stay as far from that behavior as we can. Instead, we understand the difficulty of hiring people. We are investing heavily in our current staff to limit any turnover and increase the quality of our product.” 

And he says, “Bigger does not mean great.” 

Top Company 2022: Construction and Engineering

The outpouring of applications for this year’s Top Company awards is a testament to the resilience and adaptability of enterprises that do business in the state. Applications for the 35th annual awards numbered in the hundreds, and it was particularly encouraging to see so many companies rebounding from two years of COVID restrictions, with most posting revenue and employee gains approaching—and in some cases, exceeding—pre-pandemic numbers.

This year’s Top Company winners and finalists represent 13 industry categories, plus a startup category for companies in business less than four years. Entrants were judged on three criteria: outstanding achievement, financial performance and community involvement. The judging panel was made up of ColoradoBiz magazine’s editorial board and two representatives from the business community.

 

WINNER — Ward Electric Co.

Longmont

Ward Electric Co. specializes in all aspects of power with an emphasis on high-voltage projects across the lower 48 states. 

The family-owned business believes its talented workforce is what differentiates it from the competition. Many employees have grown up in the company, working their way up the ranks.  

“They understand our culture and our values, they live them, and they pass them on,” said Jared Bodammer, the company’s director of marketing. “We understand that our employees share our culture and are our best recruiters.” 

Community service and involvement have been part of Ward Electric’s values and culture since Mike and Joyce Ward founded the company in 2005. The company supports numerous youth sports teams and area schools, events and organizations with a focus on helping children, especially those with special needs.  

“When it comes down to it, it’s about providing access and opportunities,”  Bodammer said. “Employees are encouraged to get involved in those opportunities and often present programs and causes for the company to support.  

Among the company’s greatest achievements was launching the JoyforWard Foundation in January. The foundation provides assistance to nonprofits and organizations that meet criteria set by the foundation.  

“We established the JoyforWard Foundation to honor our late mother, to continue to share her heart with others and to carry forward her ideals,” Ward Electric President Matt Ward said. 

 

FINALIST — Mortenson

Denver

Mortenson

A top 20 U.S. builder, developer and engineering services provider, Mortenson maintains offices across the country, including a major hub in Denver that was established in 1981.  

The company’s Diversity, Equity and Inclusion Business Resource Group has established internal workforce development programs, expanded hiring practices and set fair compensation packages across the company.  

“Our focus extends beyond numbers to promoting real parity,” said Christina Zavislan, Mortenson team member and regional marketing lead. “From career mapping to Women’s Skills Nights, which provide training and experience using the tools needed to advance on the construction site, we are committed to providing opportunities for advancement for all.” 

Mortenson establishes workforce utilization goals for each project to ensure people of color, women and veteran-owned businesses are given opportunities to grow. The company pledges to award 15% of all subcontracts to small, minority- and woman-owned businesses, a goal it exceeds every year.  

The company’s commitment to fostering a more inclusive construction industry extends to external advocacy. It is a founding member of the Time for Change consortium, a group of six national general contractors that banded together to identify ways to advance diversity, equity and inclusion in the construction industry.  

“That effort resulted in the first Construction Inclusion Week last fall in which tools, training and support were provided to 200,000 workers that made up the consortium and its partners,” Zavislan said. 

FINALIST — I-kota LLC

Denver 

I-kota LLC specializes in building multifamily affordable housing, completing more than 2,000 affordable units in Colorado.  

The company’s guiding light is to continually focus not on “who’s right,” but “what’s right.” 

The departure of CEO Riley McLaughlin’s business partner in 2016 left big shoes to fill and resulted in a new organizational chart, promoting three people from within the company and hiring an outside chief financial officer.  

In the process, the company committed to becoming a $50 million a year business. “This commitment required us to become a more sophisticated company and more systemized company,” McLaughlin said. 

The company is implementing integrated software that links project management to its accounting department. It also revamped its processes, coaching programs and implemented company town halls to increase communication and the recruiting processes to improve talent acquisition and training programs to increase employee retention. 

“What I’m personally proud of through this difficult organizational transition was that we had zero turnover in personnel and have a solid relationship today with our previous business partner,” McLaughlin said. “As an organization, we have grown through living and abiding by our core values.” 

Like other businesses feeling the pain of the coronavirus pandemic, I-kota applied for and was granted approval for the 2020 COVID PPP Small Business Loan. But because construction was deemed an essential business, it didn’t feel the hardship other businesses did, so it decided to pass on the loan so someone who needed it more could have it.  

“Could we have used the money? Sure,” McLaughlin said. “However, we felt this was true to our values personally and as a business to help others first. Our reputation is something we work very hard on and want it to be known for chivalry, respect and integrity.”