China State Construction Engineering Corp., China’s largest construction company, has made a significant investment in a U.S. construction firm closing the deal for an undisclosed amount to acquire Plaza Construction through its US subsidiary, China Construction America. The China investment marks dynamic growth opportunities for Plaza Construction with greater financial strength and bonding capabilities.
This announcement was made today by Richard Wood, Plaza Construction CEO.
“Our firm has always maintained a very ‘hands-on’ approach to working with our clients and managing world class construction projects for nearly 30 years,” says Mr. Wood. “With the recent acquisition, Plaza is poised for accelerated growth with enhanced resources and bonding and procurement capabilities.”
Plaza Construction is one of the nation’s leading construction management and general contracting companies. Since 1986, the firm has played a very relevant role in building corporate headquarters, commercial properties, healthcare centers, universities, transportation facilities, museums, retail spaces and residential buildings. Since its incorporation in 1986, the firm has grown from a regional organization to a multi-faceted, national presence in the industry with headquarters in New York and regional offices in Miami, Washington DC and Los Angeles.
Plaza has a reputation for taking an innovative leadership role in the construction industry. The firm has expanded from its New York City base to establishing a company presence in the Mid-Atlantic, Southeast and Southwest corridors of the country with regional offices.
“Plaza’s most valued assets are its people, who will have the added fuel to drive the company’s growth,” concludes Mr. Wood.
Plaza will continue to operate autonomously under the name Plaza Construction with a strategic mission to offer enhanced services and products to existing clients, to follow clients into new geographic markets, and to increase career opportunities. The management team of Plaza will remain in place with Richard Wood as the CEO, Lester Rivelis as the COO and General Counsel, Brad Meltzer as President, Southeast region, and Dan Peyton as Senior Vice President of the Mid-Atlantic region.