Balfour Beatty Construction U.S. Acquires RT Dooley, Adding Mission-Critical, Corporate Headquarters Expertise.
CHARLOTTE, N.C. -- Balfour Beatty Construction U.S., a division of U.K.-based Balfour Beatty plc, today announced its intent to acquire RT Dooley Construction Co., adding significant new capabilities and moving the company closer to its strategic goal of becoming a single source offering multiple commercial construction solutions to an international client base.
Charlotte, N.C.-based RT Dooley, a family-owned firm with 2008 revenues of $306 million, specializes in corporate headquarters, corporate interiors and mission-critical infrastructure and is currently operating in five states. With the completion of the acquisition, RT Dooley joins Balfour Beatty Construction's Charlotte-based Southeast Division in an enterprise blending its own expertise with Balfour Beatty Construction's experience in exterior core and shell construction and backed by London-based Balfour Beatty plc, a global construction, engineering and investment services business exceeding $14 billion in annual revenues.
"This acquisition is consistent with Balfour Beatty's long-standing strategy of continually expanding the range of products and services we can deliver to our clients," said Ian Tyler, chief executive of Balfour Beatty plc. "I am enthusiastic about our organization providing RT Dooley with the global reach to fulfill their clients' project delivery needs worldwide."
"Clients of Balfour Beatty Construction and RT Dooley have been asking for more from both of our companies, and together we can offer comprehensive solutions to meet all of our clients' construction needs as well as enhanced risk management," said Robert B. Hambright, division chief executive officer for Balfour Beatty Construction in the Southeast. "RT Dooley adds not only outstanding capabilities and the opportunity to offer our clients a complete solution from the inside out, but also an exceptional client-first culture that meshes perfectly with Balfour Beatty's commitment to providing clients a signature experience on every project."
"We are thrilled about the opportunities that joining with Balfour Beatty will create for our clients as well as RT Dooley's employees," said David Dooley, CEO of RT Dooley Construction Co. "This is a unique strategic partnership that enables us to scale up quickly in order to serve the increasingly global needs of our clients, while allowing us to retain and enhance the RT Dooley brand and the relentless focus on customers that has been our hallmark for more than three decades."
Combining with Balfour Beatty dramatically expands RT Dooley's geographic footprint. In addition to Charlotte, Balfour Beatty Construction U.S. has offices in Atlanta, Dallas, Fort Lauderdale, Fort Myers, Fort Worth, Miami, Nashville, Orlando, Raleigh, Tampa, Washington, D.C., and West Palm Beach.
"Opportunities to leverage the complementary strengths of Balfour Beatty and RT Dooley in key vertical markets were a factor in the decision to combine operations," Hambright said. "While Balfour Beatty has a strong presence in military housing, education and other public-sector markets, RT Dooley offers market leadership in corporate headquarters and corporate interiors work, mission-critical projects such as trading floors, data centers, command centers, call centers, telecommunications and broadcasting, and non-profit and green building projects. The combination also takes advantage of each partner's respective strengths in geographic markets in the Southeast and nationwide."
"Because of the complementary nature of the companies' businesses, no staff cuts are planned as a result of the acquisition. RT Dooley, which will be known as RT Dooley - A Balfour Beatty Company, will remain at its current location, operating under its current leadership team with a similar degree of autonomy as other companies that have joined the Balfour Beatty family of businesses in the U.S.," said Bill Blank, division president for Balfour Beatty Construction in the Southeast.
"As competitors and occasional collaborators with RT Dooley, we can't overstate the respect and admiration we have for the integrity, drive and dedication to client service of Bob and David Dooley and the rest of the management team," Blank said. "Knowing that this young and accomplished group is in place to provide continuity and lead RT Dooley's future growth is one of the most exciting aspects of our new strategic partnership."
The Southeast Division is part of $2.4 billion Balfour Beatty Construction U.S., which was formed from Balfour Beatty plc's 2007 acquisition of the commercial construction unit of Centex Corp. and is now the 25th largest domestic contractor in the U.S. Balfour Beatty plc entered the U.S. market in 1986 through its acquisition of Heery International Inc. and has established a significant presence in selected design, project, and program management markets in the U.S. with the addition of Balfour Beatty Capital, Balfour Beatty Infrastructure Inc., Balfour Beatty Communities and Balfour Beatty Rail Inc.
For more information, visit www.balfourbeattydooley.com.
About Balfour Beatty Construction U.S.
Balfour Beatty Construction has been a leader in the U.S. commercial construction industry for 75 years, providing general contracting, at-risk construction management, design-build, preconstruction, public/private and turnkey services for clients nationwide. The company employs 1,600 professionals and is part of London-based Balfour Beatty plc, a leading international engineering, construction, and investment business exceeding $14 billion in annual revenues. For more information, visit www.balfourbeattyus.com.
About RT Dooley Construction Co.
RT Dooley, headquartered in Charlotte, N.C., is one of the premier construction managers in the Southeast, creating success for clients through strict adherence to excellence, professionalism and unmatched service. RT Dooley specializes in corporate headquarters, corporate interiors, and mission-critical infrastructure work, and is known for its award-winning focus on green building practices and deep community involvement. For more information, please visit www.rtdooley.com.
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|Date:||Feb 23, 2009|
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