Name Changes, Mergers and Acquisitions for Professional Service Firms
The Department requires certain documentation in the event that your currently Prequalified Professional Service Firm plans to process a name change or will be merging or acquiring another firm(s). Please review the information below and prepare a package to submit to the FDOT Prequalification Administrator for processing. Please notify Central Office Procurement before the name change, merger, or acquisition occurs in order to avoid complications with your firm’s prequalification status, and to ensure a smooth transition.
The Small Business Administration website also has other information that may be useful to your business during your transition.
Frequently Asked Questions:
- Question: I am a subconsultant on a professional services contract with the Department. Am I able to sell my subcontract to another subconsultant firm?
Please contact Central Office Procurement in advance. The Department does not encourage nor endorse sale of subcontracts. The Department only holds an agreement with the Prime Consultant, and is under no obligation to approve unilateral reassignment of subconsultant services to another subconsultant. In the event that a new subconsultant is approved to be added, fees and rates will be renegotiated for the new subconsultant, including overhead, direct expense, FCCM, and operating margin.
- Question: My firm submitted an annual overhead audit when we renewed. Why does our acquisition of another firm invalidate that audit?
Your annual overhead audit was a representation of your firm’s cost pools before your acquisition or merger. According to Florida Administrative Code, Rule Chapter 14-75, “consultants who have reorganized to the extent that the most recent reimbursement rate audit does not reflect currently valid reimbursement rates … will prepare a projected overhead, direct expense, and FCCM rates which will be supported by estimated revenues and expenditures for the first fiscal year’s operations since … reorganization.” The reimbursement rates should be a reflection of the firm as it currently exists.