The Gulfport construction company Roy Anderson Corp has been acquired by Tutor Perini for more than $64 million. The acquisition also includes Harrell Contracting Group, and Brice Building Company, the company that until today fell under the control of Anderson Companies.
In a statement announcing the deal, Roy Anderson III said, "Tutor Perini is acquiring Anderson Companies at a time when we are experiencing significant success, despite the construction industry still feeling the lingering effects of a national recession. We currently have over $535 million in backlog including committed projects and have several additional projects we are aggressively pursuing. "I look forward to starting the process to integrate Anderson Companies with Tutor Perini, and I'm confident there will be exciting times ahead for our customers, Anderson Companies, and Tutor Perini."
According to a Tutor Perini news release, Anderson will remain president and CEO.
Tutor Perini Chairman Ronald Tutor said, "The Anderson companies are an ideal fit for our building business and this addition dramatically strengthens our position in the Southeastern United States. They have a proven track record of delivering quality projects for their customers on time and under budget."
Anderson touted his company's track record in his news release. "I am proud of the success and recognition we have achieved in our industry over the Anderson Companies' combined 150-year history of serving our customers," he wrote. "Our talented associates have always been our greatest asset and their dedication and hard work were key factors recognized by Tutor Perini in this transaction."
Customers will notice very little difference with the way Anderson Companies operate. "Our three Construction Companies will continue to operate under its current names with an enhanced market focus in the Southeastern United States," the Anderson statement said. "Our current senior management team will continue to operate Anderson Companies, with Mike Harrell remaining as Chief Operating Officer, and I will continue as President and CEO.
"Partnering with Tutor Perini, with its national resources and strength in the building business, is the logical strategic step for us to accelerate our growth and be a significant market leader in the Southeastern United States. Career opportunities will be enhanced for our associates as there will be virtually no limitation both geographically and professionally at Anderson Companies or with one of the Tutor Perini sister companies."