tunnelling-journal (1)
tunnelling-journal (1)
  • Home
  • Print
    • Subscribe
    • Tunnelling Journal
    • Breakthrough
    • ITA Activity Report
    • A&NZ Journal
    • WTC Preview
    • Media Kit
  • Digital
    • Newsletter
    • E-Shots
    • TJ Digital edition
    • Products Page
    • Media Kit
  • Conferences
    • BTS Conference and Exhibition
    • Cutting Edge 2023
  • Buyer’s Guide
  • Events Diary
  • Jobs
  • About Us
  • Contact Us
  • Podcast

Home > Tutor Perini acquires Frontier-Kemper Constructors, Inc.

Tutor Perini acquires Frontier-Kemper Constructors, Inc.

Tris Thomas

Written by Tris Thomas on 03/06/2011 in News

Tagged: underground

Tutor Perini Corporation (NYSE: TPC) a leading civil construction company, has announced that it has acquired 100% ownership of Frontier-Kemper Constructors, Inc. (“Frontier-Kemper”), an Indiana-based provider of construction services and related manufactured products to the tunnelling and mining industries.

Frontier-Kemper builds tunnels for highways, railroads, subways and rapid transit systems. It also constructs tunnels, shafts and other facilities for water supply and wastewater transport and develops and equips underground mines with innovative hoisting, elevator and vertical conveyance systems for the mining industry.

Headquartered in Evansville, Ind. with office locations in Pelham, N.Y., and Seattle, Wash., Frontier-Kemper employs over 600 people and has current backlog of approximately $300M. Revenues in fiscal year 2010 were approximately $148M.

Under the terms of the transaction, Tutor Perini acquired 100% of Frontier-Kemper’s stock for approximately $61 million in cash and assumed approximately $52M of debt, of which $35M was paid off at closing. Tutor Perini financed the transaction with proceeds from its senior note offering that closed in October 2010.

Frontier-Kemper will continue to operate under its current name and will be managed by its current senior management team, with W.D. Rogstad remaining as President and CEO.

Mr. Rogstad said: “We are proud of the solid reputation we have achieved in our industry over Frontier-Kemper’s 110-year history of reliable execution. Joining Tutor Perini presents exciting opportunities for both our customers and employees. We are eager to leverage Tutor Perini’s national presence and civil expertise to expand our reach and capture new opportunities.”

Ronald N. Tutor, Chairman and CEO of Tutor Perini, said: “Frontier-Kemper is an ideal fit for our civil business and will significantly bolster our tunneling business in the United States and expand our reach into Canada. They have a proven track record of timely execution of complex projects for their customers. We welcome the Frontier-Kemper employees to Tutor Perini and look forward to the opportunities ahead.”

Comments:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  1. History Tutors Tutoring 868 says:
    02/02/2012 at 1:20 pm

    It post is related with Tutor. It is a best for each student.

    Reply
  2. History Tutor says:
    20/09/2011 at 1:21 pm

    Hi, 

    Its fantastic post guys…………………..

    Reply
  3. buy steroids uk says:
    05/06/2011 at 8:08 pm

    52 million is a huge amount of debt.

    Reply

Search

Digital Edition

More Like This

15/08/2023

Granite awarded Northside Interceptor Tunnel Project (NSIT)

Granite awarded Northside Interceptor Tunnel Project (NSIT)

Granite has been awarded an approximately $215M contract by the city of Akron, Ohio to construct the Northside Interceptor Tunnel Project (NSIT) to aid in…

19/06/2023

COWI/Ramboll/Asplan Viak sign Bergen Light Rail Link contract

COWI/Ramboll/Asplan Viak sign Bergen Light Rail Link contract

A NOK 1.1bn design contract for the fifth construction phase of the Bergen light rail – from the city centre…

25/08/2023

TBM launches on Vishnugad-Pipalkoti Hydropower project

TBM launches on Vishnugad-Pipalkoti Hydropower project

Construction of India’s Vishnugad-Pipalkoti Hydropower project has kicked off with Hindustan Construction Co. Ltd. of India – the main contractor…

  • Contact Us
  • Media Kit
  • Magazine Archive

Newsletter

The latest from the Tunneling Journal direct to your inbox.

Social



Enquiries

TGS Media Ltd
The Old Library
Webster House
Dudley Road
Tunbridge Wells
TN1 1LE
United Kingdom

© Tunnelling Journal. All Rights Reserved. Privacy Policy / Terms & Conditions. Admin

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkRead more