Cianbro Corp. has acquired Florida-based R. C. Stevens Construction Co. for an undisclosed amount, giving the Pittsfield company a foothold in the southeastern United States.
The move is the latest expansion for Cianbro, one of the country’s largest employee-owned construction firms.
Peter Vigue, Cianbro chairman and former CEO, said in an interview Tuesday that while the acquisition adds roughly 50 new team members to the roster, it also opens doors for growth across various industries in the future.
“The dynamics of the environment in which we operate are forever changing for the better,” Vigue said. “Because of our growth over the last several years, we’ve entered a number of new markets in different geographies. … Florida is a forever-growing state that offers significant opportunities that we are intent to take on.”
Vigue said the acquisition offers significant growth potential in the food and beverage sector. R. C. Stevens has a number of clients and customers in the sector, he said, including Coca-Cola.
R.C. Stevens is a commercial construction company based in the Orlando area. It provides services for manufacturing/industrial, commercial, healthcare, financial, religious and renovation-based projects among others, according to its website. The company celebrated its 95th anniversary in 2021.
Tim Keating, who has owned R.C. Stevens since 2007, will continue to serve as president following the acquisition, the companies said.
The move will ultimately benefit both companies by expanding Cianbro’s presence in the Southeast and supporting R. C. Stevens’ growth strategy, Keating said in a news release.
Cianbro is an employee-owned company, and R. C. Stevens employees will be able to join its employee stock ownership plan, or ESOP. In an ESOP, employees accrue ownership of company shares over time. Cianbro has roughly 4,000 employees.
This is not Cianbro’s first acquisition. In 2010, the company acquired Texas-based Starcon International, a leader in the refinery and petrochemical industry. In 2019, Cianbro purchased Connecticut-based A/Z Corporation, which deals in a number of industries including design services, life sciences, higher education, defense and healthcare.
Vigue said he sees a lot of opportunities on the horizon for Cianbro.
“The market is very robust at this time,” he said.
There’s a significant amount of investment being made in technology, higher education and energy, particularly renewables, he said. Plus, as more companies look to move their interests back to the U.S., he believes there will be even more investment in domestic infrastructure and facilities.
Founded in 1949, Cianbro operates in 40 states.
Among other projects, the company is serving as general contractor for the modernization and expansion of the U.S. Land Port of Entry in New York, a $215 million project.
According to the trade magazine Engineering News-Record, Cianbro also is part of a team of contractors awarded a $1.7 billion contract in 2021 to enlarge and reconfigure a dry dock for submarines at Portsmouth Naval Shipyard in Kittery.
The contract was awarded to Omaha-based 381 Contractors, which according to the outlet, is a joint venture of South Carolina-based TIC – The Industrial Company with Cianbro and The Middlesex Corp. of Massachusetts. The work is expected to last through 2028. Cianbro also is working on a $157 million project to modernize the existing dry dock.
The company also built and replaced the Sarah Mildred Long Bridge over the Piscataqua River and served as construction manager for renovations to the former Cumberland County Civic Center.
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