Tutor Perini Acquires Anderson Companies

Civil and building construction company Tutor Perini Corp. has acquired Anderson Companies, boosting its presence in the Southeastern United States. Anderson, based in Gulfport, Miss., is the privately held parent company of Roy Anderson Corporation, Harrell Contracting Group, LLC and Brice Building Company, LLC. It provides general contracting, design-build, preconstruction and construction management services to public and private clients throughout the Southeastern United States. Sylmar-based Tutor Perini acquired all of Anderson’s stock for $64.6 million in cash, plus an amount to be determined based on Andersons’ operating results for 2011 through 2013. Tutor Perini will finance the transaction with proceeds from its successful bond transaction, which closed in October 2010. Anderson has current backlog of $475 million, fiscal year 2010 revenues of about $287 million and average annual revenues of more than $400 million over the last five years. Anderson will continue to be managed by its current senior management team. Roy Anderson Corporation, Harrell Contracting Group and Brice Building Company will continue operating under their current names. “The Anderson company is an ideal fit for our building business and this addition dramatically strengthens our position in the Southeastern United States,” said Ronald N. Tutor, chairman and CEO of Tutor Perini. “They have a proven track record of delivering quality projects for their customers on time and under budget.” Anderson’s president and CEO, Roy Anderson, said the acquisition will help the Mississippi-based company grow. “Partnering with Tutor Perini, with its national resources and strength in the building business, is the next logical strategic step for us to accelerate our growth and be a market leader in the Southeastern United States,” he said. Anderson has more than 600 employees and is ranked in the top tier of general contractors in the Southeastern U.S. by Engineering News Record. The company has expertise in gaming, hospitality, commercial, government, health care, industrial and educational facilities. It has offices in Birmingham, Ala.; Jackson, Miss.; New Orleans; and Pensacola, Fla. Jessica Vernabe