DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, R. C. Stevens Construction Co. to Cianbro. The acquisition closed April 1, 2022.
R. C. Stevens, located in Winter Garden, Florida, is one of the oldest and most experienced construction leaders in the southern U.S. Founded in 1926 by Raymond C. Stevens, the Company has earned wide recognition through the years as a full-service design/builder, construction manager, and general contractor specializing primarily in two distinct, difficult entry markets: food & beverage and healthcare.
Headquartered in Pittsfield, Maine, Cianbro was founded in 1949 and is one of America’s largest, employee-owned, open shop, construction and construction services companies.
Throughout its 70+ year history, Cianbro has safely and efficiently planned, managed, and constructed many technically complex, historic, and environmentally sensitive projects for a wide variety of public and private clients across the United States.
A total commitment to safety combined with the enthusiasm of an innovative team of construction professionals, has enabled Cianbro to build a durable reputation for completing projects safely, on schedule, and within budget.
The acquisition will provide a permanent establishment in the southeastern United States and open additional opportunities to expand their markets. Tim Keating, President of R. C. Stevens, will remain active and continue to lead the R.C. Stevens organization as President following the acquisition.
“I am elated for our team members here at R. C. Stevens and what the future holds,” said Keating. “Cianbro is a well-respected and well-run organization. There is no doubt, they care about their team members. Having their ongoing support for our growth strategy will enhance the offerings to our clients as well as create career growth opportunities for team members.”
“R. C. Stevens is a 95-year-old construction company that we greatly admire in terms of its culture, commitment to people, and of course, the quality of their work,” said Pete Vigue, Chairman of Cianbro’s Board of Directors.
Vigue added, “Whenever an opportunity like this presents itself, we evaluate how well the company’s mission and values align with our own, and R. C. Stevens absolutely aligns. Ultimately, this acquisition will benefit both companies; expanding and complementing Cianbro’s current geographic presence in the southeastern United States, while supporting R. C. Stevens growth strategy.”
Richard Brescia, Executive Vice President of Cianbro, adds, “R. C. Stevens has a great reputation in the industry, and they excel in process industrial, healthcare, and commercial construction. Together, we will leverage our collective experience and expertise to benefit existing and future clients within the healthcare, food and beverage, life science, technology, and related building, industrial, and manufacturing markets.”
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Sr. Managing Director Mergers & Acquisitions, Terry Mackin, with the support of Senior Vice President, M&A, Tristan Keefe, successfully closed the deal. Senior Managing Director, Thomas Hamm established the initial relationship with R. C. Stevens.
“Our marketing produced many qualified suitors for R. C. Stevens,” said Mackin. He added, “In the end our client went with the group that they were most familiar with and trusted would take good care of the legacy that had been built over 95 years.”
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 250 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company Investment Banking Firm of the Year three years in a row and Valuation Firm of the Year in 2020. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
Contacts
Carl Doerksen
972-342-0968
cdoerksen@generational.com
