Flintco's sale to Alberici Corp. closes
BY KYLE ARNOLD World Staff Writer
Wednesday, January 09, 2013
1/09/13 at 6:15 AM
Flintco LLC, one of the state's largest construction outfits, is now owned by St. Louis-based Alberici Corp., the two companies announced Tuesday after closing the deal.
Tulsa-based Flintco, a American Indian-owned business, has 215 employees in the city and has been the contractor on some of the area's largest recent projects such as One Place downtown, the Hard Rock Hotel & Casino Tulsa in Catoosa and work at the Tulsa Zoo.
The deal gives Alberici 100 percent ownership of Flintco, whose main office is at 1624 W. 21st St.
"This strategic acquisition will provide both companies with a broader geographic platform to better serve existing and new customers," Alberici President and CEO Greg Kozicz said in a statement. "We believe there is a strong cultural alignment between the two companies."
Both companies are privately owned. Alberici executives declined to answer further questions about the deal, and financial details were not disclosed.
Flintco, with 750 employees nationwide, has offices in Albuquerque, N.M.; Austin, Texas; Memphis, Tenn.; Oklahoma City; and Springdale, Ark.
In a statement from Flintco in October, when the merger was first publicly acknowledged, officials said that if the deal moved forward Flintco would keep its name, employees and all its divisions.
It is unclear whether Flintco CEO Tom Maxwell will have a role with the new company.
"Alberici's commitment to the continued growth and development of Flintco and its employees make this a great fit for Flintco," Maxwell said in the statement.
Alberici is a prominent builder in the industrial construction sector; much of Flintco's work has involved hospitals, casinos and schools.
Flintco was ranked as the nation's 54th-largest construction company by Engineering News-Record, and Alberici Corp. ranked a few spots lower at No. 59.
Flintco's origins go back to 1908 with a local oil drilling equipment manufacturing outfit called Tulsa Rig, Reel & Manufacturing Co. In 1919, C.W. Flint took it over and began building oil derricks in Oklahoma, and during the Great Depression Flintco started building Army bases and airfields for the government.
Original Print Headline: Flintco's sale to St. Louis firm closes
Kyle Arnold 918-581-8380