|
Top Specialty Contractors
Mid-Atlantic Construction’s annual list of the largest specialty contractors ranked by revenue.
Last year marked the beginning of tough times for many specialty contractors. While top general contractors continued to feed off of backlog and garner record revenues, subcontractors were starting to feel the effects of an economic slowdown that would ultimately end in a deep recession.
Some top specialty contractors were able to see growth, especially those banking on large multi-year projects. The Gaylord National Hotel & Convention Center in Prince Georges County, Md., for example, helped Truland Systems of Reston, Va., book more than $100 million dollars, and generated $131 million for Pierce Associates of Alexandria, Va. But the majority of companies on this year’s list would consider themselves fortunate to see revenues stay steady compared to the previous year.
Much of the work that brought in big dollars for specialty contractors in 2008 came from the public and institutional sectors. Hospitals, schools and government facilities began to replace mega-private jobs in the pipeline.
With credit markets remaining tight for private developers in 2009, public work has become the sole source of opportunities for many of the area’s specialty contractors. As the public sectors become more crowded and competitive bidding gets more aggressive, next year’s Top Specialty Contractors list should reflect a significant shift in the Mid-Atlantic market.
Read on to see how the top specialty contractors stack up in this year’s survey.
Truland Systems Corp.
Reston, Va.
Regional Rank: #5
Electrical Rank: #3
Federal projects in greater Washington and sizable private jobs boosted the revenues of Truland Systems Corp. of Reston, Va., to $303.8 million in 2008, up from $223 million in 2007.
“We live and work in a part of the United States that tends to be prosperous most of the time because of federal spending,” says Alan Linder, vice president of operations for Truland Systems, which includes Tech, a voice, data and video installation and maintenance company; BK Truland in Baltimore; Truland Service, which provides service account management and performs work on health-care projects; and Reliatech, which verifies performance and reliability of building systems, offers facility management services and currently is working for the State Department in Baghdad.
The 96-year-old company’s top 2008 projects include a $100-million-plus job at Gaylord National Hotel & Convention Center in National Harbor, Md.; a $40-million project at the Washington Nationals Park in the District; and work for the Washington Metropolitan Area Transit Authority. Truland also performed two Base Realignment and Closure projects at Fort Lee, Va.
Linder says the company is successful because of “the depth and breadth of our professional management systems. We are used to managing labor in large blocks—50,000, 100,000, 200,000 manhours.”
Truland is working on the National Geospatial-Intelligence Agency New Campus East at Fort Belvoir, Va., in a joint venture with Clark Construction Group of Bethesda, Md., and Balfour Beatty Construction of Washington, D.C. BK Truland is currently working on a Department of Homeland Security National Biodefense Analysis and Countermeasures Center at Fort Detrick, Md., and Four Seasons Hotel and Residences in Baltimore.
“We expect revenue for 2009 to be even with or slightly ahead of 2008 and profitability to be at least as good as 2008,” Linder says.
|
J.E. Richards
Beltsville, Md.
Regional Rank: #12
Electrical Rank: #5
Electrical contractor J.E. Richards of Beltsville, Md., saw significant success in 2008, boosting its revenues to $109.9 million, compared to $79.9 million in 2007.
“J.E. Richards has always been lucky as far as making money,” says Joe Richards, the firm’s president. “We have a bunch of good people and a lot of long-term employees.”
The company has provided electrical services throughout the metropolitan Washington, D.C., area since 1983. It employs approximately 500 people, many of them with 20 years or more tenure with the firm.
Most of the company’s work comes from repeat clients. Richards says the firm does bid on some jobs, but it cannot rely on low-bid contracts.
J.E. Richards performed $25 million in electrical work for the core and shell at Constitution Center in Washington, D.C., for James G. Davis Construction Corp. of Rockville, Md. The redevelopment of the federal building entailed removing more than 150 15,000-volt transformers and medium-voltage switchgear and installing 10 13,800-volt substations, two rooftop emergency generators and other equipment. The project is scheduled to wrap up later this year.
In 2008, J.E. Richards completed $14 million in electrical work at the Dumont Condominiums in the District, another Davis project. The company performed more than $10 million in electrical work at the University Center, a high-rise residential and retail center near the University of Maryland in Baltimore for Whiting-Turner Contracting Co. of Baltimore.
Richards recently began a $12-million project for MedImmune at the pharmaceutical company’s building six manufacturing facility in Gaithersburg, Md.
“We’re going to make money this year,” Richards says. “In the first quarter, we did $23 million. We had a big first quarter.”
|
TSI Exterior Wall Systems
Landover, Md.
Regional Rank: #30
Glazing/Curtain Wall Rank: #1
Several large hospital and office projects led TSI Exterior Wall Systems to finish 2008 with $63.4 million in revenue, up from $42 million 2007.
“We had a great 2008 and a better 2009,” says Gary Evans, executive vice president of TSI of Landover, Md. “We were fortunate to be in the right place at the right time.”
Evans says that TSI entered 2009 with a strong backlog because contractors typically bring the company in 18 months or more before a job starts. The company often provides a significant amount of design-assist work.
Current work includes projects at Mercy Medical Center and St. Agnes Hospital, both in Baltimore. TSI recently finished exteriors at Baltimore Washington Medical Center. The company also performs retro work, re-skinning buildings. TSI employs approximately 160 people.
In addition to curtain-wall systems, the company performs architectural metal work, which entails using stainless, brass and bronze to produce point-supported walls, revolving doors, glass stairs, handrails and other items. Another component of the business fabricates composite metal panels for exterior skins.
“We sell composite panels to almost every one of our competitors,” Evans says.
Established in 1977, TSI has completed more than 500 envelope/glass and glazing projects in the Baltimore/Washington, D.C, area, including the new Washington Nationals Park and Gaylord Hotel and Convention Center.
|
Caretti
Camp Hill, Pa.
Regional Rank: #40
Masonry Rank: #1
Masonry contractor Caretti of Camp Hill, Pa., finished 2008 with $43.3 million in revenue—up from $34 million in 2007—by concentrating on negotiated work with established clients.
“Contractors will come back to us with a tough project,” says Mike Mantua, vice president of Caretti. “We try to get on the job and control our pace, which sets the pace for the job. A lot of general contractors like that.”
The company, which was founded in 1953, counts on its good reputation to earn repeat business, but it also has expanded into Scranton and Wilkes Barre, Pa. And in 2008, its restoration division, launched in 2006, took off, boosting the bottom line.
In 2008, Caretti completed an $8.6-million job at GrandView at Towne Centre at Parole, a condominium complex in Annapolis, Md., being built by Gilbane Building Co. of Laurel, Md., for Sturbridge Annapolis of Gambrills, Md. It is working on about four school projects in Pennsylvania valued at approximately $14 million, including a $6.3-million masonry job at Eastern York High School.
Mantua says that 2009 has started out well but overall the numbers are down about 20%, with expectations the year will finish at about $37 million. Despite the pinch, the firm had not laid people off by the summer.
“We still have people coming to us to negotiate work, but we’re down a little bit,” Mantua says. “We’re blessed to have what we have and to have good people working for us.”
|
Total Engineering
Lanham, Md.
Regional Rank: #41
Utility Rank: #7
Working for both public and private owners helped make 2008 a good year for Total Engineering of Lanham, Md., which finished the year with $42.5 million in revenue, up from $29.3 million in 2007.
The company performs a significant amount of excavation and utility work for federal clients, local sewer and water authorities and private developers.
“As we grew, we always had that [public work] in our backlog of work,” says Greg Deweese, vice president. “Last year, that became the normal type of work, and it was an easy transition for us to keep new work procurement.”
Total Engineering started working in 2008 on the $19.1-million, 3-mi-long East Access road at the Food and Drug Administration’s White Oak Campus in Silver Spring, Md., for the General Services Administration. The scope includes two bridges and the supporting infrastructure.
The company also performed $5.3 million in work at the Walter Reed Bethesda Naval Hospital for Clark/Balfour Beatty, Joint Venture, made up of Clark Construction Group of Bethesda and Balfour Beatty Construction of Fairfax, Va.
On the private side, the company is working on a $9.7-million, multiphased contract at St. Agnes Hospital in Baltimore for Whiting-Turner Contracting Co. of Baltimore.
“Part of our success over the years has been our ability to professionally manage our jobs,” Deweese says. “We take a lot of pride in our performance, and we try to excel with production in the field and to meet the tough schedules.”
The company also expanded its reach in the region, opening an office in Chesapeake, Va., last year.
Deweese expects 2009 will be a solid year as it continues to pursue major contracts from the U.S. Army Corps of Engineers, the Naval Facilities Engineering Command and GSA.
“We’re focusing on federal dollars,” Deweese says. “We’re looking at these blockbuster jobs hitting the street that will have a significant amount of earthwork, utility work and infrastructure work.”
|
|