GULFPORT — One of the state’s largest building contractors, Roy Anderson Corp. (RAC), will get even larger with the proposed acquisition of Harrell Construction Group, LLC (HCG) of Jackson.
RAC signed a letter of intent Feb. 11 to acquire the HCG. RAC has about 500 employees with annual sales of about $210 million in 2002. HCG has about 200 employees with annual sales of $75 million in 2002.
The letter of intent was signed following a series of meetings and discussions between executives of RAC and Mike Harrell, president and owner of HCG.
“We have taken the first formal step in the process of making this acquisition,” said Roy Anderson III, president and CEO of RAC. “The Harrell Construction Group is a talented team of construction professionals. When they join Roy Anderson Corp, our team will be significantly strengthened, especially in the hospitality and retail markets.”
RAC has begun to work on the details of the acquisition and expects the transaction to be concluded during the second quarter of 2003.
HCG has a division office in Birmingham, Ala., in addition to its headquarters in Jackson. HCG formed in 1997 following the management buyout of an existing 120-year-old construction firm. Michael H. Harrell, HCG president and 22-year employee, led the company purchase.
About 80% of HCG work comes from the private sector. About 60% of the business comes from repeat customers. HCG has operated throughout the Southeast, with the majority of work performed in Mississippi and Alabama. Projects include Marriott Hotels throughout the Southeast, the 200,000-square-foot Burdines Department Store in Orlando, Fla., and the $12-million expansion to the First Baptist Church of Jackson.
“Mike Harrell is greatly respected in our industry,” Anderson said. “His insight and experience will be focused on client needs as he continues to lead and grow the Harrell Construction Group.”
Founded in 1955, RAC is recognized as one of the Top 400 General Construction firms in the United States as ranked by Engineering News Record. Company leaders attribute the company’s success to a history of honesty, fairness and a steadfast commitment to quality. Anderson said a solid reputation and a strong base of repeat customers are two of the rewards for their commitment to quality.
RAC is currently the general contractor for the new $48-million U.S. Federal Courthouse in Gulfport, and has completed several significant projects recently at Stennis Space Center. The company participated in much of the building boom for the casino industry on the Coast, completing projects such as the Casino Magic Hotel in Biloxi. RAC is also the general contractor for the Nissan Administration Building in Canton.
Other notable projects include the Natural Sciences Museum in Jackson, the Hinton Hotel and Convention Center in Sandestin, the Perinatal Center the University of Mississippi Medical Center in Jackson and the Westin Hotel and Convention Center in Frisco, Texas.
Anderson said that to continue the company’s success, its leadership strives to be more than a company that builds quality buildings. They recognize how critical it is to recruit, train and retain talented associates who share the common goals to treat customers as they would like to be treated, as well as doing the job right the first time, every time.
For more information on RAC, see the Web site http://www.RAC.com. For more information on HCG, see the Web site http://hcggroup.com/about/.
Contact MBJ contributing writer Becky Gillette at email@example.com</a.