L.F. Driscoll Merges with Structure Tone
(November 16, 2009) – Robert W. Mullen, CEO of Structure Tone, and John (Jack) J. Donnelly, chairman and CEO of L.F. Driscoll Co., announced today that L.F. Driscoll will merge with Structure Tone. The move is driven by strategic growth initiatives for both firms - enhancing geographic expansion for L.F. Driscoll and market sector penetration for Structure Tone. No organizational or personnel changes are planned for either firm as part of the merger and the current management team of L.F. Driscoll will continue to run day-to-day L.F. Driscoll operations.
“The merger of our two organizations strengthens long-term development goals for both firms and enhances our respective abilities to meet client needs,” stated Mullen. “By joining together, we are able to offer existing clients of our respective firms, as well as potential new clients in all geographies, greater range of services and enhanced expertise in both out-of-the-ground and interior construction in core service areas such as healthcare, higher education, commercial and hotel construction.”
Jack Donnelly sees a similar synergy. “Becoming part of the Structure Tone organization is an exciting opportunity for L.F. Driscoll to expand its geographic reach, which has long been a goal of ours. But, geographic growth is always challenging and through Structure Tone’s expansive established network of offices we are immediately able to bring L.F. Driscoll’s expertise to a much broader spectrum of clients.”
Also, there is a natural symmetry between the firms that facilitates the merger. Like Structure Tone, L.F. Driscoll is 100% privately-held. “There is strong similarity in our firms’ cultures, histories and business philosophies,” said James K. Donaghy, chairman of Structure Tone. “We are both ‘client first, last and always’ firms. Our cultural affinity, combined with convergences of core areas of market expertise, make this an excellent fit for both organizations. It is very much like two puzzle pieces coming together to create a bigger picture for the future.”
L.F. Driscoll Co. is headquartered in suburban Philadelphia and is one of the region’s top core and shell builders. In 2008, L.F. Driscoll put in place $646M in construction value. L.F. Driscoll predominately performs construction management-at-risk services for the healthcare, higher education, hotel, cultural and sports, commercial and residential markets – all also core or emerging markets for Structure Tone.
L.F. Driscoll’s geographic reach extends from Washington, DC to Hartford, CT with a concentration in the greater Philadelphia market. L.F. Driscoll is considered one of the premier healthcare and research builders in the region, and its relationships with the key hospitals in greater Philadelphia have spanned decades.
L.F. Driscoll was founded in 1929. Today, L.F. Driscoll is listed 104th overall on ENR’s Top 400 contractors list and 18th and 5th, respectively, on ENR’s Top Healthcare and Top Green Healthcare builders lists. The firm’s growth has stemmed from its strong reputation for understanding and satisfying client needs with technical expertise and commitment to excellence. In addition to its healthcare resume, L.F. Driscoll has built a number of highly visible projects such as the Comcast Tower, Liberty One, The Kimmel Center for the Performing Arts, the Philadelphia Phillies’ Citizens Bank Park and the Wachovia Center (home to the Flyers and Sixers).
Structure Tone was founded in 1971 in New York City, where the firm’s headquarters remains today. Founded as a two-person organization, Structure has grown over the past four decades to become a preeminent construction services provider. Structure Tone is currently listed 21st overall on Engineering News Record’s (ENR) Top 400 contractors list. The Structure Tone organization meets the complete range of its clients’ construction needs, including renovation and expansion, new construction, technology and infrastructure upgrades and sustainability initiatives. The Structure Tone organization includes Structure Tone Inc., Constructors & Associates, Pavarini Construction Co., Pavarini McGovern and S&techs. These companies collectively represent over 1,100 employees in 21 offices in the US, UK, Ireland and Asia. In 2008, the Structure Tone organization delivered over $3B in construction volume.
