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
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info