ACQUISITIONS
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Lake Forest's Primoris buys James Construction for $135 million
Deal follows October acquisition of Cravens Services.
By Kristen SchottPublished: November 19, 2009 11:15 AM
Lake Forest-based Primoris Services Corp. plans to buy James Construction Group LLC for $135 million. The Baton Rouge-based firm is one of the largest privately held construction companies in the southeastern U.S.
This is the second acquisition the company has entered into in recent months: Primoris also purchased Cravens Services Inc. in October.
What's more, the move is expected to provide a number of benefits to the firm. Among them: Primoris' infrastructure operations will expand into Louisiana; it will provide a larger base in heavy civil construction activities; and it will boost Primoris' work force to 3,000 employees.
"The addition of James Construction Group represents a transformative event in the history of our company and reflects our commitment to a strategy based on both organic growth and strategic acquisitions," says Primoris President and CEO Brian Pratt.
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This is the second acquisition the company has entered into in recent months: Primoris also purchased Cravens Services Inc. in October. What's more, the move is expected to provide a number of benefits to the firm. Among them: Primoris' infrastructure operations will expand into Louisiana; it will provide a larger base in heavy civil construction activities; and it will boost Primoris' work force to 3,000 employees. "The addition of James Construction Group represents a transformative event in the history of our company and reflects our commitment to a strategy based on both organic growth and strategic acquisitions," says Primoris President and CEO Brian Pratt. NEXT PAGE >> Related headlines Aliso Viejo's Summit Office Campus inks two new tenants Real estate market affected by short sales Newport Beach's Master Development gears up for Las Palmas auction |
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