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

| Jul 9, 2012

Oakdale, Calif., Heritage Oaks Senior Apartments opens

New complex highlights senior preferences for amenities.

| Jul 3, 2012

Trimble to acquire WinEstimator

Acquisition adds estimating software solutions to Meridian Systems’ portfolio.

| Jul 3, 2012

Summit Design+Build completes Emmi Solutions HQ

The new headquarters totals 20,455 sq. ft. and features a loft-style space with exposed masonry and mechanical systems, 17-ft clear ceilings, two large rooftop skylights, and private offices with full glass partition walls.

| Jul 3, 2012

TOLK now called Dewberry

The renaming indicates a simplification in Dewberry’s corporate naming conventions.

| Jul 2, 2012

Bernards building mixed-use project in Beverly Hills

The project includes 88 luxury apartment homes atop a 14,000-sf Trader Joe’s market and a new coffee shop.

| Jul 2, 2012

San Francisco lays claim to the greenest building in North America

The 13-floor building can hold around 900 people, but consumes 60% less water and 32% less energy than most buildings of its kind.

| Jul 2, 2012

Plumosa School of the Arts earns LEED Gold

Education project dedicated to teaching sustainability in the classroom.

| Jun 29, 2012

SOM writes a new chapter at Cincinnati’s The Christ Hospital

The 332,000–sf design draws on the predominantly red brick character of The Christ Hospital’s existing buildings, interpreting it in a fresh and contemporary manner that fits well within the historic Mt. Auburn neighborhood while reflecting the institution’s dedication to experience, efficiency, flexibility, innovation and brand.

| Jun 29, 2012

Benjamin Moore Paints announces new CEO

Robert S. Merritt comes to Benjamin Moore with over three decades of management experience in the restaurant and food preparation and distribution industries

| Jun 29, 2012

Guardian launches industry’s first glass visualizer for interior design

Online tool allows designers to explore the possibilities of glass.

boombox1
boombox2
native1

More In Category

Great Solutions

41 Great Solutions for architects, engineers, and contractors

AI ChatBots, ambient computing, floating MRIs, low-carbon cement, sunshine on demand, next-generation top-down construction. These and 35 other innovations make up our 2024 Great Solutions Report, which highlights fresh ideas and innovations from leading architecture, engineering, and construction firms.




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