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
| Nov 11, 2012
Under40 Leadership Summit draws 71 young leaders to Chicago
More than 70 young—that is, under age 40—architects, engineers, and construction professionals descended on Chicago in early October with one thought in mind: to learn how to “create with clarity.”
| Nov 11, 2012
AIA: Building Envelope
Preventing and treating failure in glazed curtain wall systems. Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Nov 11, 2012
Greenbuild 2012 Report: Hospitality
Hotel boom signals good news for greener lodging facilities
| Nov 11, 2012
Greenbuild 2012 Report: Government & Military
Public sector remains a bastion of sustainability
| Nov 11, 2012
Greenbuild 2012 Report: Healthcare
Green medical facilities extend beyond hospital walls
| Nov 11, 2012
Greenbuild 2012 Report: Multifamily
Sustainably designed apartments are apples of developers’ eyes
| Nov 11, 2012
Greenbuild 2012 Report: Higher Education
More and more colleges and universities see sustainainably designed buildings as a given
| Nov 11, 2012
Greenbuild 2012 Report: K-12
High-performance schools put ‘sustainability’ in the lesson plan
| Nov 7, 2012
John Portman & Associates awarded new high rise in China
108-story building to rise in Nanning, the Capital City of Guangxi Province.