New York City-based Structure Tone is banking on a boost to its institutional and base-building capabilities in acquiring L.F. Driscoll Co., a major construction-management-at-risk firm in metropolitan Philadelphia. The deal, announced Nov. 16, allows Structure Tone to leverage Driscoll�s experience in healthcare, higher education and high-rise base building. Photo: L.F. Driscoll Co. Philadelphia contractor built city�s landmark Comcast Center Financial details of the deal, which combines two major construction contractors and two of the nation’s largest privately-held CM-at-risk firms, were not disclosed. Structure Tone ranks 6th on ENR’s list of the Top 50 CM-at-risk firms; Driscoll ranks 37th. Structure Tone
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.