Manhattan & Kraft Construction Combine
Manhattan Construction Group, Inc., and Kraft Construction, Inc. Combine to Create One Of The Nation's Largest Privately-Held Construction Companies
August 25, 2008
Manhattan Construction Group, Inc. has acquired a controlling interest in Naples-based Kraft Construction, Inc. Qorval served as the exclusive financial advisor to the Seller. The combination creates one of the largest privately held construction companies in the United States, with combined revenues of $1.5 billion.
"We are proud of our role in bringing these two great companies together", said James R. Malone, managing partner of Qorval.
Scott Sanderson, Qorval managing director and partner in charge of the transaction, said that "Kraft gains the experience, scale and resources available through Manhattan's $1.5 billion portfolio, and Manhattan gains the excellent team, strength and reputation of Kraft's 40 years in Florida."
One of the largest privately held companies in the nation, Manhattan has built some of the country's most notable structures, including the U.S. Capitol Visitor's Center, the Bush Presidential Library and the Dallas Cowboys' new NFL stadium. In addition to Tulsa, the company has offices in Atlanta, Dallas, Houston, Oklahoma City, Richmond, Va., Washington, D.C. metro area and Tampa.
With nearly 300 employees, Kraft is recognized as the largest privately held construction company in Florida and ranks among the 100 largest contractors in the U.S. The company's notable projects include Ave Maria University, Florida Gulf Coast University, Naples Community Hospital, Ortiz Jail in Lee County, North Naples Regional Park, North Sarasota Library, Sarasota Police Department, and the High Point Place condominium complex in Fort Myers.