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Horst Construction sells stake in Cornerstone

By TIM MEKEEL

Some 13 years ago, Randall Horst promised Dale Yoder the chance to be an owner of an architectural firm someday.

Now Horst has set in motion a plan that has given that highly motivating opportunity to others as well.

Horst Construction on Monday sold its 50 percent stake in Cornerstone Design-Architects to Cornerstone for an undisclosed price.

Cornerstone, in turn, sold some of that stake to three other employees, bringing them into its ownership with Yoder, its president. Some also was set aside for future use.

“I wish Dale and his team well,” said Horst, who’s president and chief executive officer of Horst Group, owner of Horst Construction.

“I think they’ll take off and flourish, with the ownership structure that gives them the opportunity to attract and retain architects long-term.”

Added to Cornerstone’s ownership were registered architects Rick Walker, vice president, and John O. Yoder, director of design and construction services, who is unrelated to Yoder.

In addition, Cornerstone’s new owners include business manager Julie Parker and a silent shareholder, an out-of-state professional engineer who’s not employed by Cornerstone or Horst Construction.

Cornerstone was established in 1990 by Horst Construction architect Wilbur Marsh as W.N. Marsh Associates. Both Marsh and Horst Construction owned half.

Yoder was recruited in 1994 from Greenfield Architects, told by Horst he’d someday run the company and be an owner. Those promises were fulfilled in 1996, when he was named general manager, and in 1997, when he was named president and bought the stake of Marsh, who retired.

These latest transactions were prompted by a conversation between Horst and Yoder about ways to provide a similar chance to talented and dedicated employees of Cornerstone, to stimulate the company’s growth and the employee’s development.

“As Randall and I were discussing how to give opportunity to up-and-coming architects, Randall came back with this very generous offer...,” said Yoder. “Just as Randall gave me the opportunity 13 years ago for ownership, by extension he’s giving that opportunity to others.”

Cornerstone, with 15 employees, will keep its office in the Horst Group headquarters building, 320 Granite Run Drive , although Cornerstone now is entirely independent of the Horst Group and Horst Construction.

Yoder described Cornerstone as a firm that’s focused on integrated design and construction projects. Its projects include churches, private schools, theaters, medical offices and ambulatory surgery centers.

 

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