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2 HARTFORD BUSINESS JOURNAL | MAY 2023 | BUSINESS PROFILES I f you can't find it, create it. It's a motto Yitz Rabinowitz lives by – and it's what pushed him to found Axela Construction back in 2005. Yitz – then a young real estate investor – was struggling to handle his first acquisition. He quickly discovered no GC firm existed that truly understood the needs of owners. So, he decided to build it himself. "Most GCs aren't involved in maintenance, so they don't know the long-term effects of a given system or material," he explains. "They don't know which value-adds are worthwhile, which will endure, or which will make a difference to the bottom line. I was determined to build a firm where every decision would come from an owner mindset: How will this affect tenants, management and our investment?" Over the next 15 years, Axela operated in a limited fashion, building only the projects of its founders. Across dozens of projects and millions in value-adds, the company developed a rock-solid foundation: a unique, owner-centric process that prioritized strict adherence to timetables, careful strategic spending, and an eye on long-term maintenance and management. "It was about serving real estate investors," says Mark Shteierman, Axela's president. "For these people, a competent GC is not enough. They need construction partners who have been there themselves, who can serve as strategic advisors and long-term collaborators." In 2021, after nearly two decades of honing its process to perfection, Axela opened its services to the broader market – and the company exploded. "In a span of three years, we went from three employees to 20," reports President Shteierman. "The demand was real. Owners want to work with other owners – people who deeply understand their needs, priorities and goals." In 2022 alone, the company grew its revenue by 212%, ranking No. 82 on the Inc. Regionals Northeast, the most prestigious list of the fastest-growing private companies in the Northeast. And over the past two years, Axela completed upwards of 25 projects: The group took on builds in Hartford, Bridgeport and Waterbury, while expanding its reach throughout Connecticut, moving into Darien and Fairfield with multiple high-profile projects – including phase one of The Crossings at Fairfield Metro. But while the team has handled multiple $15M+ multifamily projects, their mainstay is $1-3M interior renovations – unique value-add opportunities where they can carefully advise on the most worthwhile ways to increase property value and appeal. "Owners want GCs who will help them minimize costs, maximize resources and create high-worth assets," says Craig Linda, VP at Axela. "This is what we provide our clients – and this is why 90% return for additional projects." The secret to their success, however, goes beyond the owner-focused ethos. Driving every successful project is Axela's team: A-players who work hard, play hard and have a lot of fun. Employee longevity at the firm is exceptionally high, and nearly all employees – from junior project managers to senior leaders – plan to stay out their career at Axela. "You get to be around great people and high- level projects – with ongoing opportunities for growth," says Rachel Schmidt, administrative assistant. "It's a place you look forward to going to each day." For his part, President Mark Shteierman feels grateful – for the astounding growth, for the dozens of repeat clients and for the team that has made it all possible. "When you build right," he says, "you're not just helping the owners – you're helping families get a better quality of life. As family people ourselves, nothing gives us greater joy." What If Construction Was by Owners, for Owners? Address: 61 Interstate Lane, Waterbury, CT 06710 Phone: (203) 580-1100 Website: axelaconstruction.com Product or Service: General Contracting / Construction Management No. of employees: 18 Top Executive: Yitz Rabinowitz Year Founded: 2005 When talent meets opportunity, it sticks around.