flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Controlling interest in Clark Construction sold to employee group

Contractors

Controlling interest in Clark Construction sold to employee group

The death of its founder last year set the wheels of this transition in motion. 


By John Caulfield, Senior Editor | January 15, 2016

Nationals Park in Washington, D.C., is one of myriad construction projects that Clark Construction has been hired to build over the past several decades. The company's ownership has been sold to a group of senior-level executives. Photo: Wikimedia Commons

Clark Construction Group, one of the country’s largest building and civic construction firms, reportedly has been sold to over a dozen of its long-time owners and executives.

The Washington Post reports that the new owners of Bethesda, Md.-based Clark, who will now control 100% of the business, include its Chairman Dan T. Montgomery, its Director Peter C. Forster, and its President and CEO Robert D. Moser Jr. Clark Construction, which generates more than $4 billion in annual revenue, has 4,000 employees in 11 offices in the U.S.

Terms of this agreement were not disclosed. A call to Clark’s spokesperson, Susan Ross, was not returned by presstime.

What precipitated this transition of ownership was the death from congestive heart failure of the 87-year-old A. James Clark in March 2015. His Clark Enterprises owned a majority stake in Clark Construction. The sale of Clark Construction was announced on January 14, but apparently had been consummated several weeks earlier.

Clark Enterprises, a diversified private investment management firm, will now be separate from Clark Construction, which dates back to 1906, and whose iconic projects have included Verizon Center, Nationals Park, and FedEx Field in Washington D.C., along with the Ronald Reagan Building in Los Angeles and an addition to Lincoln Center for the Performing Arts in New York City.

According to the company’s history, the present-day Clark Construction Group evolved from its biggest subsidiary, The George Hyman Construction Company. A. James Clark, who had been an employee of Hyman since 1950, took over the business in the 1960s and established Clark Construction in 1982.

Clark Construction’s expertise extends to design-build, lean and pre-construction, public-private partnerships, and virtual design and construction. Its 23 market sectors include offices, aviation, sports and entertainment, mission critical, hospitality, government, education, and multifamily.

Among its recent projects is a joint venture with Horizon on the $100 million, 250,000-sf Joint Processing Center in Houston that is expected to establish a new level of correctional processing for that city. The building will include temporary holding cells, medical facilities and cells, arraignment courtrooms, short-term inmate housing, and operations for the County Sheriff and City Police departments.

Clark is building the 43-story, 872,000-sf Park Tower at Transbay in San Francisco, a JV of The John Buck Company, Golub and Company, and Metlife, and designed by Goettsch Partners. And Clark is engaged with architect Fentress Architects in a $500 million renovation of 500,000 sf of exhibit and interior spaces at the Miami Convention Center, a project that includes an addition of a 60,000-sf ballroom with meeting and pre-function space.

Related Stories

| Apr 23, 2014

Architecture Billings Index dips in March

The March ABI score was 48.8, down sharply from a mark of 50.7 in February. This score reflects a decrease in design services.

| Apr 21, 2014

10 design-build best practices

Design-build requires more than a good contract and appropriate risk allocation, says the DBIA. Everyone from the owner to the subcontractors must understand the process, the expectations, and fully engage in the collaboration. 

| Apr 17, 2014

Online mapping tool helps teams determine multifamily project tax credit eligibility

Accounting and advisory firm Baker Tilly has launched a new, interactive online mapping tool that helps users determine if a business or development project may qualify for the New Markets Tax Credit or Low-Income Housing Tax Credit program.

| Apr 15, 2014

12 award-winning structural steel buildings

Zaha Hadid's Broad Art Museum and One World Trade Center are among the projects honored by the American Institute of Steel Construction for excellence in structural steel design.

| Apr 11, 2014

ULI report documents business case for building healthy projects

Sustainable and wellness-related design strategies embody a strong return on investment, according to a report by the Urban Land Institute.

| Apr 11, 2014

Start your engines: Ferrari plans to build first ever hotel

Clad in the carmaker's signature "Ferrari red," the hotel will resemble the grill and hood of one of its iconic cars.

| Apr 10, 2014

Foulger-Pratt Contracting promotes Daivd Uffelman to President

Uffelman will oversee all aspects of the Rockville, MD-based contracting operation, which specializes in mixed-use, multifamily residential, office, retail, healthcare, and interiors construction.

| Apr 10, 2014

Submit Your Project for a Bluebeam eXtreme Award!

Bluebeam is holding the second annual Bluebeam eXtreme Awards at the 2014 Bluebeam eXtreme Conference in Hollywood, Calf. 

| Apr 9, 2014

McCarthy opening San Jose office

McCarthy Building Companies, Inc., the largest general contractor in California with Northern California offices in San Francisco and Sacramento, is opening a Silicon Valley office, effective May 15.

| Apr 9, 2014

Steel decks: 11 tips for their proper use | BD+C

Building Teams have been using steel decks with proven success for 75 years. Building Design+Construction consulted with technical experts from the Steel Deck Institute and the deck manufacturing industry for their advice on how best to use steel decking.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021