http://www.chron.com/disp/story.mpl/business/6717974.html
Houston-based SpawMaxwell Co.is being acquired by Balfour Beatty Construction of Dallas.
The deal will combine SpawMaxwell's work in corporate and health care interior construction with Balfour Beatty's ground-up construction specialty, the companies said Thursday. Terms of the deal were not disclosed.
“We do a growing practice in ground-up, but this will take us to the next level,” said SpawMaxwell CEO David Spaw.
The Houston company, which collected $350 million in revenue last year, also has offices in Austin and Dallas. It was founded in 1998 with the merger of David Spaw Co. and Maxwell Company Construction. It has 141 employees throughout Texas.
The Houston company, which collected $350 million in revenue last year, also has offices in Austin and Dallas. It was founded in 1998 with the merger of David Spaw Co. and Maxwell Company Construction. It has 141 employees throughout Texas.
Spaw said there are no planned staff reductions as a result of the acquisition.
Founded 76 years ago, Balfour Beatty Construction has 1,600 employees in 10 offices nationwide. Its 2008 revenue was more than $2.4 billion.
The company is part of London-based Balfour Beatty plc.
SpawMaxwell will operate as a full-service division headquarters, continuing to do business in Houston, Dallas and Austin. Balfour Beatty's other headquarter locations are in Dallas, Washington D.C., Charlotte, N.C., and Fort Lauderdale, Fla.
SpawMaxwell will retain its brand and the local leadership will not change.
nancy.sarnoff@chron.com
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