Hadco Construction Marks 25th Anniversary
Founded in 1989, Hadco Construction has grown from a small family irrigation company to become one of the largest privately owned construction companies in Utah.
Now in its 25th year, the company is based in Lehi, Utah, and specializes in residential, commercial and heavy highway construction. The business has 350 employees, 50 trucks and operates four sand and gravel pit locations.
Throughout the 1990s and early 2000s, Hadco Construction focused mostly on residential construction projects. However, company owner John David Hadfield made sure 20% of the projects that Hadco undertook were commercial construction. That strategy proved crucial during the financial crisis of 2007-2008 when the residential construction market plummeted. Hadco took on more commercial projects and remaining profitable. In 1996, company revenues were $3 million, and by 2007, Hadco had become a $50 million company.
Before the recession, two very important tactical decisions were made: Hadco entered the heavy highway construction business, and the company began to vertically integrate. Highway construction allowed Hadco to remain profitable despite the residential slowdown, and vertical integration allowed Hadco to have more control over the home-building process.
Hadco Construction is five divisions with one name. Hadco Residential Division digs basements and addresses work around an existing home; Hadco Concrete Division pours flatwork and foundations and some commercial structures; Hadco Trucking Division owns 50 trucks and meets the needs of other construction companies; Hadco Mainline Division builds heavy highways and subdivision roads; and Hadco Pit Division (TM Crushing) has five different locations that process aggregates (road base, sewer rock, gravel, bank run, etc.).