Veit & Company, Inc.

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Veit & Company, Inc.:

Digging Into Its Work

Veit & Company, Inc. has provided earthwork, demolition, utilities, and foundation services across multiple industry sectors for nearly a century.

Written by Kevin Doyle Produced by Stephen Marino

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hile it may be safe to say that Frank Veit may not recognize the company he founded nearly a century ago with a single truck with a dump box, he’d understand the drive needed to outwork competitors and deliver work of the highest possible quality.

Established in 1928 with headquarters in Rogers, MN, Veit & Company, Inc. (Veit) today remains family-owned and privately held. It has carved out a sterling reputation as a provider of earthwork, demolition, utilities, and foundation services across multiple industry sectors.

Third-generation owner Vaughn Veit bought the business from his father, Arthur Veit, in 1975 and has overseen its continued growth for more than 50 years. CEO Kelly Veit is one of the few women filling that role in the U.S. construction industry and President Tim Reimann brought 20 years of industry experience with him when he came on board in September of 2020.

The company has three operations under one umbrella: • Veit & Company, Inc. also has Marine Diving and Dredging, and Industrial Cleaning divisions and

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accounts for approximately 80 percent of the company’s annual revenue.

• Veit Disposal Systems operates a large fleet of trucks with rolloff containers for recovery of demolition and industrial waste from its own operation as well as those of clients.

• Vonco removes anything of value from the processing and landfilling waste stream and will

“We’re very proud of the spirit an branded ‘Never Settle, Dig De innovative mind-set of problem-sol - Tim Reiman

Veit & Company, Inc. | 5 South Dakota and Wisconsin (Milwaukee). Is opening a Green Bay, WI office and acquired a company in the Southeastern United States last year. It finished 2020 with $246m annual revenue and, on average, employs 600-700 individuals although that number will peak at 1,000 this year due to ongoing work.

“We’re very proud of the spirit and culture of the company, which is branded ‘Never Settle, Dig Deeper’,” Reimann notes. “The spirit does drive an innovative mind-set of problem-solving and continuous improvement.”

High-Profile Projects sell elements of value.

“Vaughn Veit is the family owner that has really grown the business.

As President, I have [day-to-day] responsibility for those three companies,” Reimann says. “We’ve grown for most of the 93 years we’ve served the Minnesota market.

According to Reimann, the Tim Reimann - President

In recent years, the company has expanded into North Dakota,

nd culture of the company, which is eeper’. The spirit does drive an lving and continuous improvement.’ nn, President www.veitusa.com

Veit & Company, Inc. | 6 company drew between 400 and 500 projects per year with an average job size of $300,000.

Project Walleye: The company has performed all the integrated site development from preconstruction through construction on a 105-acre site for a national distribution center for a web-based retailer.

•Ryan Companies, Inc. contracted with Veit to provide commercial site preparation for a 750,000 SF distribution center in Lakeville, MN. The project ran from October 202 through June 2021.

•The project includes excavation and backfill for the 17.72-acre

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building footprint, construction of roadways and parking lots, and installation of utilities including watermain, sanitary sewer, storm sewer, discharge header, and welland-point system dewatering.

“It’s a version of the Biden Administration’s scale of work we’ll all be called on to help the US deal with this aging infrastructure crisis we’re facing,” says Reimann.

Lakewalk: This enormous multiyear project for the city of Duluth was designed to both protect and enhance a high-end retail area from the brutal winter environment along the shore

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of Lake Superior. The company rebuilt the lakewalk and installed armor protection. Crews imported more than 150,000 tons of 5-12 ton boulders to stack along the new shorefront trail to protect it from harsh conditions. The mile-long project was completed on time.

Grassy Point: This continuing project for the Minnesota Department of Natural Resources (DNR) seeks to reclaim and restore natural habitat destroyed by more than a century’s worth of logging operations. Sawmills used the body of water as a dumping ground for wood chips that settled to the bottom and hindered aquatic plant growth, limited underwater animal movement, and created overall hazardous conditions for wildlife.

The company’s Marine Dredging

Division executed the work.

Safety Measures The company’s outstanding EMR of 0.66 signals its commitment to protecting its workforce above all else. No project begins until it is determined that employees, clients, partners, and the community will be as safe as possible. Before new employees set foot on any site they are provided rigorous safety training.

The company is currently seeking a patent application for a safer and more productive method to bring down tall smokestacks and industrial chimneys that was created by one of its Field Superintendents.

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Veit & Company, Inc. | 8 “That is challenging and dangerous work and it really shows how that Superintendent is seeing the challenges and dangers inherent in demolition,” Reimann points out.

Day to Day Reimann served as submarine officer following his graduation from the U.S. Naval Academy in Annapolis, MD. He obtained his Master’s Degree from the University of Maryland and previously worked for 30 years in leadership roles in the automotive, information technology, manufacturing, and construction sectors.

“I’ve been spending time with our clients, partners and people to better understand our markets, the

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challenges and the opportunities.

We’re also really talking a lot about where we want to go as a company,” he says.

He works with the Leadership Team to develop its Veit 2030 vision that will define the company from the perspectives of revenue, profitability and performance moving forward.

How to incorporate elements of the company culture into something broader; how to become and remain a preferred company of choice; how to retain the best people while maintaining a voluntary turnover rate of less than five percent are all questions to be addressed.

The company has a fleet of 600

Veit & Company, Inc. | 9 MANSFIELD ENERGY CORP

NORTH AMERICAN ENERGY SUPPLY, LOGISTICS, DISTRIBUTION AND RISK MANAGEMENT

1500 Partners Local Service. Nationwide

WWW.MANSFIELD.ENERGY 800.695.6626

pieces of heavy equipment and active innovation partnerships in place with Caterpillar and Trimble Guidance Systems that make it one of only a handful of companies that has the opportunity to beta-test the technology in the field.

Reimann explains.

“We can shake down and test out their pilot technology. Our engineers work directly with Cat Corporate in Peoria, IL and give them real-time feedback about how this technology is performing in the field. They benefit from that ‘test drive.’ We have a very similar arrangement with TGS. We get up-to-date real-time downloads to job sites, wherever they may be, wherever our assets are,”

The entrepreneurial spirit established by Vaughn Veit seems to attract people to the company.

Once on board, most tend to stay.

“That information helps dial in our estimates and translates into more productive, safer jobs, especially with real-time positioning of buried utilities,” he adds.

“We’re somewhat independent and motivated by that spirit and you know you will be supported by an office team, a support team, and a leadership team has your back.

Having some fun and growing together is important,” Reimann

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asserts. “People here don’t like sitting around and are motivated to make a difference. They want to be a part of something bigger than themselves. They look at the work they do and they’re proud of what they build, or what they enable a General Contractor to build.”

The company’s vetting process for service-providing vendors and partners is stringent.

“We look at technical abilities, financial standing, and their values and cultural elements, and how

they do what they do. Then we ask ourselves ‘Will this partnership have the right fit? Does it feel like we can work with them? Can they help us deliver on the Veit Promise and the brand that we’ve developed?’,” Reimann explains.

Meeting Challenges In an industry with a median age of 41 years old, Veit faces the same problems of Baby Boomers ageing out of the workforce and others leaving the industry voluntarily.

“I’ve been spending time with our clients, partners and people to better understand our markets, the challenges and the opportunities. We’re also really talking a lot about where we want to go as a company.”

- Tim Reimann, President www.veitusa.com

Veit & Company, Inc. | 11 “I mean, it’s a war for talent.

We’re providing education in the communities we serve and show what work in the construction space could be. We see a lot of families with the belief that going to college and getting a traditional degree is the only way, We respect that view but we also think there are good, healthy careers in the trades. We’re working with the HEC and other organizations that work with construction to lobby and promote the industry,” Reimann says.

The commoditization pressure on the industry that has trended upward since the onset of the pandemic 18 months ago remains a concern and, Reimann says, “is something we take very seriously here.”

Reimann notes.

His advice to those still searching for a career path? Be open to any and all possibilities.

“I would have never guessed I’d be doing what I’m doing today.

I’ve learned to take risks, stretch myself and grow in ways that, as an Engineer and traditional type of leader I would have never imagined. Live the adventure and navigate your career by reflecting [on your] personal passions, [your] talents and [how you]can help organizations get better and be successful,” he concludes.

COMPANY INFORMATION

Company Name:

Down The Road

Veit & Company, Inc.

This is a smart, nimble company with a long-term vision in place and plans for continued growth at a measured pace. Supportive and nurturing with its sub-contractors, it is also a company unafraid of self-evaluation and potential lessons to be learned.

Country: United States

“We track how many prequalifications we do each year and sometimes we step back and say ‘We’ve got to get better – maybe the problem is in our own ranks’,”

Industry: Construction Est: 1928 Premier Services: Earthwork, demolition, utilities, and foundation services across multiple sectors.

President: Tim Reimann CEO: Kelly Veit Website: www.veitusa.com

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14000 Veit Place Rogers, MN 55374 P: (763) 428-2242 P: (866) 428-2242 F: (763) 428-1334 E: info@veitusa.com