Established in 1978, the O’Connor Company has grown from a modest startup in Columbus, Ohio, to a national powerhouse with operations in 39 states. The transformative journey from $20 million to $60 million in revenue under the leadership of Clark Lowe, the company’s president and CEO, is a testament to strategic vision and unyielding commitment to excellence.
“I’ve always wanted to be an entrepreneur and own a business,” recalls Lowe. “After the Marine Corps, I dabbled in big corporate business for a bit and ultimately landed as a real estate developer. I was hired the day the office went remote for COVID-19. As Director of Construction, I started from scratch, building websites, marketing, and the team. In the first year, we generated about $20M in revenue and about $2M in profit. I asked for a small piece because I held all the company’s licensing in several states. When that request wasn’t granted, it led me to start looking for a business of my own to acquire, ultimately bringing me to O’Connor Company.”
Clark Lowe comes to O’Connor Company with visionary leadership
The O’Connor Company began operations in 1978. Initially, O’Connor was a regional player in the construction sector. Over nearly half a century, the company established a solid reputation and laid the groundwork for expansion.
Clark Lowe assumed the role of President and CEO at a critical juncture in O’Connor’s history. When he took charge, the company was already notable but had not yet realized its full potential. Lowe brought with him a transformative vision that prioritized not only growth but also sustainability and community impact.
“I was drawn to several important aspects of O’Connor Company,” remembers Lowe. “First, the company was a stable business with a history of great results. It also has a phenomenal client base, with some loyal customers’ repeat business spanning nearly 40 years. The most important piece that made the deal happen was my connection with the seller. He’s still a huge piece of the company’s success and my first call when I have questions.”
One of Lowe’s first significant moves was geographical expansion. By opening new offices in upcoming economic hotspots, such as Upstate New York, Lowe ensured that O’Connor was not just a regional player but a national contender. This strategic expansion allowed the company to secure high-value projects and increase revenue streams.
A company is only as strong as its team, and Lowe recognized this early on, so he invested significantly in talent acquisition and development. By cultivating a culture of continuous learning and professional growth, Lowe ensured that O’Connor attracted and retained some of the best talents in the industry. This strong team has been pivotal in executing the company’s ambitious projects.
“When I was in the Marine Corps, we did a leadership course that required us to write our epitaph,” Lowe remembers. “Throughout our day-to-day, they wanted us to always have a point on the horizon to drive toward. For me, that epitaph was to be the man who made everyone else matter more.’ I wanted to exponentiate experiences in life — not only in myself, but others as well. I felt like many leaders did not always do the right thing — I knew I could be different.”
The strategy that turned $20M into $60M
When Lowe came to O’Connor Company mid-year in 2022, it consistently earned approximately 20 million dollars each year. “I knew we needed to diversify the business away from doing private work for single clients,” notes Lowe. “It was time to dive into the public sector and win competitive bid jobs. In our first year, we won several key projects to position the company where a bank could get behind the deal.”
Under Lowe’s leadership, the company’s portfolio expanded to include warehouses, distribution centers, and multi-million-dollar construction projects across various sectors. This diversification was not just about increasing the number of projects but also about mitigating risk. By venturing into different types of builds and industries, Lowe ensured that the company would remain stable even if one sector faced downturns.
While diversification was essential, Lowe also placed a strong emphasis on high-margin projects. Carefully selecting projects that offered the best financial returns without compromising quality allowed him to maximize revenue and profitability. This strategic focus enabled the company to triple its revenue within a relatively short period.
How Clark Lowe meets the challenge of rapid growth
Rapid growth never comes without growing pains. Lowe says that everything becomes exponentially complicated as a company scales. “The number of invoices you’re processing doesn’t just triple with sales; usually, it has an impact of six to eight times. We had to rebuild multiple systems from the ground up.”
To overcome these challenges, Lowe says he spent a good portion of his first years seeking to understand the company through other people’s perspectives. He found that O’Connor’s stream of private clients ran as smoothly as it ever had, but his teams resisted the new processes that could launch them into rapid growth.
“People tend to lean towards perfection before launch–think Boeing versus SpaceX,” Lowe explains. “I pushed our teams into launching things before we were ready, and then I pushed for continuous improvement.”
Lowe’s best advice for entrepreneurs hoping to experience the same growth in a newly acquired company is to change the landscape in which they compete. “It’s hard to compete on well-developed landscapes,” he admits. “For instance, I knew early on we couldn’t hope to compete as a typical general contractor. Too many companies already do that exceptionally well. Our focus has been on communication, organization, and disciplined execution. We’ve fostered new policies and approaches to building our team to support new visions. Many of our ideas, policies, and practices — especially on the human capital side — are extremely divergent from typical general contractors.”
The transformation of O’Connor Company from $20 million to $60 million in revenue is a remarkable story of vision, innovation, and dedicated execution. Looking ahead, O’Connor is poised to continue its expansion, exploring new markets and sectors while maintaining its commitment to quality, innovation, and community values.
“Over the next two years, we’re looking to more than double our growth again, both organically and through acquisition,” says Lowe. “Our BHAG, or Big Harry Audacious Goal as Jim Collins would call it, is to push the company to $500M and take it public.”
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