GULFPORT — Gulf Coast builder Roy Anderson Corp. has been sold to a California company for $64 million.
In a statement today, Tutor Perini of Sylmar, Calif., said it had acquired Anderson Companies, the privately-held parent company of Roy Anderson Corp., Harrell Contracting Group, LLC and Brice Building Company, LLC.
Under the terms of the transaction, Tutor Perini acquired 100 percent of Anderson’s stock for $64.6 million in cash, plus an amount to be determined based on Andersons’ operating results for 2011-2013.
Roy Anderson III, who will remain president/CEO, said his company has more than $535 million in backlog including committed projects and has several additional projects it is pursuing. He said the Anderson companies will continue to operate under the same names and the 600 employees will remain in their jobs.
Anderson said it was the variety of projects Anderson has built, including casinos, government buildings, schools and health care facilities, that caught Tutor’s interest.
Anderson has offices in Birmingham, Jackson, New Orleans and Pensacola, and is headquartered in Gulfport, where Roy Anderson Jr. started the company in 1955.
Tutor Perini president/CEA Ronald Tutor says the acquisition strengthens his company’s position in the Southeastern United States.
Source: Associated Press