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| Perini Corporation acquires Keating Building Corporation Massachusetts-based Perini Corp, the mammoth builder of highways across the U.S., announced that it has completed the acquisition of Keating Building Corp, a privately held construction, construction management and design/build company, with anticipated fiscal year 2008 revenues of approximately $425 million and a backlog of $860 million. Perini acquired 100% of the company's stock for $43 million in cash plus an amount to be determined based on the operating results for 2009 – 2011. Based in Philadelphia and covering the major construction markets of the Northeast and Mid-Atlantic states, Keating Building Corporation has grown since its founding in 1976 to become one of the largest general building contractors in its region of operation. Keating Building Corporation is expected to operate as a wholly owned subsidiary of Perini Corporation and will continue to be managed by its current senior management team. write your comments about the article :: © 2009 Construction News :: home page |