Suffolk Acquires Dietze
Boston-based Suffolk Construction is looking to firm its footing in the Mid-Atlantic States with the acquisition of The Dietze Construction Group of Ashburn, Va. Suffolk, which opened its Mid-Atlantic Division in 2007, aims to leverage Dietze’s experience managing construction of secure government facilities, which is a sector that has remained strong through the recession especially around the nation’s capital. Recent Dietze projects include the one million square-foot interior construction of the Securities and Exchange Commission headquarters.
Other Dietze projects currently under construction include a new 100,000 square-foot clubhouse for the Army-Navy Country Club in Arlington, Va.; design-build construction of a new apartment complex at the Howard Hughes Medical Institute in Ashburn, Va.; and a data center for Coresite in Reston, Va.
“In this economic environment, it is critical that we continue to seek opportunities to expand our business, diversify our work and exceed client expectations,” said John Fish, Chairman and CEO, Suffolk Construction.
Under terms of the deal, Dietze will become a division of Suffolk, allowing the company to continue to leverage the Dietze name. Ralph Dietze, CEO of the 80-person company, is now president of Suffolk’s Mid-Atlantic Division and heads both the Dietze and Suffolk teams. Mike DiNapoli, who previously headed Suffolk’s Mid-Atlantic Division, is now COO of the division.
Suffolk is No. 41 on Engineering News Record’s Top 400 Contractors with $1.5 billion in 2008 revenue. Dietze, established in 1993, recorded revenues of $180 million in 2008.