Flintco, Alberici of St. Louis in merger talks
BY ROBERT EVATT World Staff Writer
Tuesday, October 02, 2012
10/16/12 at 7:38 AM
Flintco LLC, one of the largest Tulsa construction companies, has begun discussions to be acquired by St. Louis-based Alberici Corp.
In a Monday press release, Flintco announced is has signed a non-binding letter of intent to begin discussions with Alberici, which is also a construction company.
The release noted that if the transaction moves forward, Flintco would keep its name, and all employees and divisions would be retained.
A possible sales price was not mentioned.
The release noted the two companies have begun a two-month due diligence period to determine their next move.
Flintco officials said in the release that the attributes of an acquisition are compelling for both entities.
"Both companies are deeply rooted in a steep sense of family, with strong traditions of safety, customer service and operational excellence," the release stated.
"Both companies believe in developing people from within and that people are each company's most important asset. Both companies have a strong tradition in construction management, general contracting and self-perform work. Both companies would benefit from expertise in a wide variety of sectors and geographic scope."
Dana Birkes, vice president and chief marketing officer for Flintco, said officials could not offer additional comment at this time.
Flintco was founded in 1908, and at 750 employees is one of the largest construction companies in the region.
Its workforce has 215 members in Tulsa.
Flintco has offices in Austin, Texas; Springdale, Ark.; Sacramento, Calif.; Memphis, Tenn.; Albuquerque, N.M.; and Oklahoma City.
It is also notable for being American Indian-owned.
Some of Flintco's biggest construction projects in the area include One Place in downtown Tulsa, Hard Rock Hotel & Casino Tulsa in Catoosa, the First Presbyterian Church expansion downtown, Union Public Schools Collegiate Academy, Tulsa Community College Center for Creativity, and recent construction at Expo Square, the Tulsa Air & Space Museum, Tulsa Zoo and Booker T. Washington High School.
Alberici offers general contracting, construction management and design-build industrial and commercial services.
Officials at that company did not return calls for comment.
Original Print Headline: Flintco enters into acquisition talks
Robert Evatt 918-581-8447