Generational Group Advises Carter Associates in its Sale to LJA Engineering

By Generational Group


Generational Group, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Carter Associates, Inc., to LJA Engineering, Inc. The acquisition closed April 27, 2023.

Carter Associates, Inc. (CAI), located in Vero Beach, Florida, is a diversified, full-service civil engineering and land surveying firm. 

CAI is an icon in the Indian River County and Treasure Coast areas, with its rich history of regional development dating back to 1911 when founder Robert D. Carter designed a canal drainage program near what is now Vero Beach, which changed 55,000 acres of marsh into useful salable land. This still-functioning canal system, now managed by Indian River Farms Water Control District, continues to drain much of Indian River County and the City of Vero Beach. 

To this day, CAI continues to provide District Engineering services for Indian River Farms Water Control District as well as all the other six (6) Water Control Districts in the County. CAI works closely with County and many other agencies, districts, and surrounding counties on water and utility systems, agricultural systems, and land development.

Located in Houston, Texas, LJA Engineering, Inc. (LJA) is an employee-owned, full-service, comprehensive multi-disciplinary consulting firm.

With offices across the nation, they offer one-source, one-stop reliability for all of their clients, when and where they are needed. LJA is organized around eight comprehensive sectors and can seamlessly build successful project teams with civil, structural, and electrical engineers, plus hydrologists, planners, landscape architects, construction managers, GIS designers, and surveyors. Its resources are leveraged across the firm to deliver expertise-driven teams, increase responsiveness to client-specific needs, and individualized project solutions.

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team, led by Alan Steinberg, a Generational Group Authorized Affiliate, with the support of Vice President, M&A, Emil Nirkis, successfully closed the transaction. Senior Managing Director Doug Morrow established the initial relationship with CAI.

“Carter Associates were intent on finding a buyer that would continue the legacy established for over one hundred years. They found the perfect partner in LJA Engineering,” said Steinberg.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit