GULFPORT, MS (WLOX) - Roy Anderson III calls it a "win-win deal" that should accelerate the growth of the company his father founded.
The Gulfport-based "Roy Anderson Corporation" is now a division of "Tutor-Perini Corporation".
That publicly traded company paid $64.6 million for the acquisition.
Tutor-Perini was looking to expand in the southeast and considers Roy Anderson Corporation a perfect fit.
The Anderson Companies also include Harrell Construction based in Jackson and Brice Building based in Birmingham.
Roy Anderson III, who will remain President and CEO of "Roy Anderson Corporation", says he's excited about new possibilities.
Travel most anywhere in South Mississippi and you'll find examples of projects built by Roy Anderson Corporation: Ocean Club Condominiums in Biloxi, the new Gulfport Yacht Club, Island View Casino in Gulfport and Hard Rock Casino in downtown Biloxi.
"We could naturally grow by ourselves, privately. But this just accelerates our growth. And I really think at the end of the day, it's going to provide a lot more opportunities, more depth of resources for us to get where we need to be on a faster pace," said Roy Anderson III.
Tutor Perini had been looking for a firm to strengthen its position in the southeastern U.S. Roy Anderson Corporation has a proven record and a 500-million dollar plus backlog of business.
"My father started the business in 1955 with some money, three thousand dollars that my mother saved when he was over in Korea. And he came back to his hometown of Gulfport, Mississippi, and he started a very small company. And we grew substantially over the years," said Anderson.
The projects built by the company include coast casinos, government buildings, schools, condominium towers, medical complexes and industrial work.
"These buildings are going to be here for a long, long time. And it does give me a lot of pride to drive up and down the streets and look at the buildings, knowing that we played a small part in this," says Anderson, "I think you always look over the pros and cons of a private company, and now you're part of a public company. But I really do think it's a logical step, it's a natural step for our company. It's something that will facilitate our growth."
Anderson credits the hard work of his employees for the success of the company, and says the acquisition will give them even more professional opportunities.
Anderson says his 82 year old father, now retired, still offers his advice and was very much in favor of the sale.