Brailsford & Dunlavey and Project Management Advisors Join Forces to Form Premier Institutional Program Management Firm

The partnership unites two nationally respected firms to deliver integrated, full-lifecycle solutions for clients

WASHINGTON and CHICAGO, Dec. 10, 2025 /PRNewswire/ -- Brailsford & Dunlavey (B&D), a Bernhard Capital Partners portfolio company, and Project Management Advisors (PMA) announced they have merged, bringing together two nationally recognized leaders in program management and real estate advisory services to form an integrated, scalable platform with broader capabilities across project lifecycles.

Together, the firms offer a comprehensive suite of services spanning strategic planning and advisory, project leadership and delivery, owner's representation, and operations consulting for social and institutional infrastructure clients and large asset owners. By merging their teams and capabilities, the firms expand their geographic reach and sector depth across higher education, healthcare, life sciences, technology, K-12 schools, civic and municipal projects, sports venues, hospitality, residential, and innovative solutions for energy infrastructure challenges.  

The combined organization includes more than 450 professionals serving clients nationwide from offices in major U.S. markets, including Northern and Southern California, Austin, Chicago, Atlanta, Orlando, Tampa, Washington, D.C., and New York. Based on the 2025 Engineering News-Record Top Program Management Firms list, the merged firm would rank within the top 20 nationally. Both brands will remain visible during integration, and existing teams, services, and active projects will not be impacted.

"Our clients operate in the industries most critical to our nation's economy, and so this is not about getting bigger, but about getting better – and in this case 'better' means providing the most comprehensively relevant capabilities to these industries," said Paul Brailsford, Co-CEO of B&D. "In combining our firms, we are well positioned for accelerated growth built upon an incredibly strong foundation."

"This is a rare opportunity to unite two organizations that share a quality-first mindset," said Roger McCarron, CEO of PMA. "What has stood out to me is how consistently both firms are viewed in the market. I'm proud that two organizations with strong reputations and aligned values are coming together to create something even stronger for our clients."

This announcement follows B&D's 2024 partnership with Bernhard Capital Partners (BCP), a services- and infrastructure-focused private equity firm that invests in platforms with strong fundamentals and growth potential. BCP's support strengthens the merged firm's ability to expand capabilities, invest in technology, and grow its national footprint.

"B&D and PMA each bring exceptional talent and a disciplined, client-focused approach to delivering complex projects," said BCP Partner Mark Spender. "By merging, they are creating a unified institutional program management platform with the integrated capabilities and scale to support social and institutional infrastructure clients and large asset owners at every stage of the real estate lifecycle. We are proud to support the combined firm and look forward to the impact it will deliver across the country."

About Brailsford & Dunlavey
Brailsford & Dunlavey (B&D) is a national planning, development and program-management advisory firm dedicated to bringing community to life through the places where people live, learn, work and play. Since 1993, B&D has collaborated with higher-education institutions, K-12 school systems, municipalities, public-private ventures, and sports and entertainment organizations to turn bold visions into reality. The firm's full-lifecycle advisory services, from market analysis and financial modeling to construction oversight and operational strategy and management, empower clients to lead their projects with clarity, confidence and control. With a portfolio of over 1,500 projects and more than $45 billion in completed construction value, B&D is headquartered in Washington, D.C. and maintains regional offices across the country. www.bdconnect.com

About Project Management Advisors, Inc.
Project Management Advisors, Inc. (PMA) is an independent real estate consulting and project delivery firm that delivers clarity and leadership to complex decisions. We guide owners, developers, investors, and infrastructure stakeholders to maximize the potential of their assets and portfolios. We provide both strategic guidance and hands-on execution across the real estate lifecycle, with services spanning advisory, project delivery, and power and energy. For more than 30 years, PMA has advised on and delivered billions of dollars in real estate projects nationwide, bringing deep industry expertise, objective insights, and owner-minded leadership to every engagement. Consistently ranked among Engineering News-Record's Top Project Management-for-Fee Firms for six consecutive years, PMA has a proven track record across diverse project types, industries, and both public and private sectors. Headquartered in Chicago, PMA has offices in Austin, Los Angeles, New York, Orlando, Tampa, San Diego, and San Francisco. For more information, visit pmainc.com.

About BCP
BCP is a services and infrastructure-focused private equity management firm established in 2013. BCP has deployed capital in five funds across several strategies and has $6 billion in assets under management. BCP seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses. For more information, visit bernhardcapital.com.

Media Contacts
Caroline Thompson
Akrete Communications
caroline.thompson@akrete.com

Karmela Lejarde
Brailsford & Dunlavey
klejarde@bdconnect.com 

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SOURCE Brailsford & Dunlavey; Project Management Advisors, Inc.