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.
Source: BDC
Network
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