New York City-based Structure Tone is banking on a boost to its institutional and base-building capabilities by acquiring L.F. Driscoll Co., a major construction-management-at-risk firm in metropolitan Philadelphia. The deal, announced on Nov. 16, allows Structure Tone to leverage Driscoll’s experience in healthcare, higher education and high-rise base building. Financial details of the deal, which combines two of the nation’s largest privately held CM-at-risk firms, were not disclosed. Structure Tone ranks 21st among ENR Top 400 contractors, with $3.1 billion in 2008 revenue, while Bala Cynwyd, Pa.-based Driscoll is ranked 104th with $646 million in revenue. A Structure Tone spokeswomen
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.