FORT MYERS, Fla. (Jan. 5, 2022) – Following a five-year succession plan and undisclosed buyout, LSI Companies announces the transition of ownership and leadership from founder Randy Thibaut to his son, Justin Thibaut. LSI Companies is the parent company for the Land Solutions, Development Solutions and LSI Commercial divisions.
“Over the past several years, Justin led the company’s rebranding and expansion, clearly demonstrating his expertise and leadership abilities,” said Randy Thibaut, founder and broker, LSI Companies. “In addition to growing our regional footprint and services, Justin brings new technologies and operational improvements to the table. This transition happened very organically and I’m very proud of Justin and the successful succession plan that we journeyed through together. Not only did it help us position the company for long-term success, but we engaged professionals in the succession planning industry to help ensure our father-son relationship continues to thrive too.”
Justin Thibaut, who assumed the president and CEO position effective Jan. 3, 2022, previously served as director of sales and then chief operating officer for LSI Companies overseeing the daily operations of all three subsidiaries before he was appointed president and partner in 2020. He is a graduate of the University of Florida with a bachelor’s degree in Construction Management and joined the team after a successful career in the nuclear power and petroleum industries, where he held positions in project engineering, construction and business management of major capital projects valued from $500 million to $1 billion. Specializing in real estate analysis and acquisition/disposition of commercial real estate, Justin Thibaut is also well versed in all stages of land development and vertical construction. In addition, he is experienced in complex transactions including 1031 exchanges, income-producing investment sales, and developer/homebuilder developed lot programs. Since joining the firm in 2016, he has brokered more than $250 million in real estate transactions. Justin Thibaut also serves as President of The Lee BIA Builders Care organization, board member of the Lee Building Industry Association, CCIM Southwest Florida Chapter, and as Secretary of the Real Estate Investment Society.
Founder Randy Thibaut will continue to serve as a broker for LSI Companies and will be actively involved in building the first planned Sage Community, an active adult rental community being built in North Fort Myers. He has been actively involved in the creation, development, sales and marketing of residential and resort developments in Southwest Florida since 1982, and personally has brokered more than $2 billion in real estate transactions. Randy Thibaut is co-founder of the nonprofit organization Lee BIA Builders Care and serves on the board of directors for the Lee Building Industry Association. Both Randy and Justin will continue to present the annual Market Trends real estate conference, along with residential real estate expert Denny Grimes.
“As I assume ownership, I’m grateful that Randy will continue to pursue his passion for real estate as a broker, active real estate investor, and the developer of Sage Communities senior apartment projects,” said Justin Thibaut, president and CEO, LSI Companies. “Most importantly, I’m grateful that he’ll continue to serve as my mentor as I lead LSI Companies forward and build upon the successful business that he founded more than 20 years ago.”
Dr. Denise Federer, principal owner of Federer Performance Management Group LLC, (FPMG), works closely with family-owned businesses and coached the Thibaut’s through their succession plan process.
“They were both very committed to the vision of successfully transitioning the company and putting in the hard work that it takes,” said Federer. “Aside from finances and operations, there’s an emotional and behavioral commitment to the succession process. For Randy, it was about letting go with the understanding that Justin was ready and very capable. They had to mold their vision for the future of LSI and their own roles within the company and as family. While they are very different people, they are a great team and bring out the best in each other.”
LSI Companies is active in numerous community causes and organizations, including Lee BIA Builders Care and Lee Building Industry Association.
About LSI Companies
LSI Companies is a full-service real estate firm overseeing Land Solutions, Development Solutions and LSI Commercial. The LSI Companies team specializes in all aspects of property development and brokerage, including due diligence, permitting and compliance, asset management, investor relations, market research, legal services, entitlements, zoning, document preparation, marketing and more. LSI Companies is located at 6810 International Center Blvd. in Fort Myers. For more information, please call 239-489-4066 or visit www.LSIcompanies.com.
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