Tampa, FL – The PBSJ Corporation (PBSJ), parent company of the engineering, architecture, and sciences company PBS&J, PBS&J Constructors, and PBS&J International, announces the execution of an agreement for the acquisition of Clearwater, FL-based Peter R. Brown Construction, Inc. They will operate as a wholly owned subsidiary of the corporation.
Founded in 1963 by Peter R. Brown, Peter Brown Construction (www.peterbrownconst.com) has 150 employees located in Clearwater, Destin, and Tallahassee, FL, and in Warner Robbins, GA. The company was purchased by its three current owners, Judy A. Mitchell, John R. Stewart, and Eduardo “Tito” Vargas, in 2000. Today, Peter Brown Construction provides comprehensive construction management and design-build services to public and private clients primarily throughout the southeastern U.S. The company was recently named as one of the top 50 fastest growing privately held companies for 2008 by the Tampa Bay Business Journal.
“This is a very strategic move by both Peter Brown Construction and PBSJ to enhance our position in the marketplace and to better serve both our clients and our employees,” states John B. Zumwalt, III, chairman and CEO of PBSJ. “Together we offer a strong, totally integrated project delivery service.”
Peter Brown President Judy Mitchell states, “This is a good fit for both companies. Our services complement each other nicely, and our company cultures are unusually compatible. We are excited about the ability we now have to grow our company in the national arena and the opportunities it affords our employees to grow professionally.”
Effective immediately, PBSJ will pursue and carry out all new construction management at risk projects through Peter Brown Construction. According to Zumwalt, the goal will be to integrate over time the best of Peter Brown Construction’s and PBS&J Constructors’ cultures and practices. Mitchell will remain president of Peter Brown Construction. Partners Stewart and Vargas will continue to serve as executive vice presidents.
The PBSJ Corporation (www.pbsj.com) is an employee-owned family of businesses that addresses infrastructure needs for the purpose of improving life for generations. The acquisition of Peter Brown Construction significantly expands the corporation’s ability to provide construction management at risk services for vertical and horizontal facilities. With this acquisition, the projected annual revenues of The PBSJ Corporation increase to approximately $850 million for 2009.
(The above information contains forward-looking statements concerning our future operations and performance. Forward-looking statements are subject to market, operating and economic risks and uncertainties that may cause our actual results in future periods to be materially different from any future performance suggested herein. Factors that may cause such differences include, among others: increased competition; increased costs; changes in general market conditions; changes in industry trends; changes in the regulatory environment; changes in our relationship and/or contracts with the Federal Emergency Management Agency [“FEMA”]; changes in anticipated levels of government spending on infrastructure, including the Safe, Accountable, Flexible, Efficient Transportation Equity Act—A Legacy for Users [“SAFETEA-LU”]; changes in loan relationships or sources of financing; changes in management; changes in information systems; late SEC filings; and, the restatement of financial results. Such forward-looking statements are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.)