RALEIGH, N.C., Dec. 21, 2020 /PRNewswire/ -- FMI Capital Advisors, an investment banking firm dedicated to construction, engineering and other sectors of the built environment, today announced the acquisition of Donley's, Inc.'s Construction Management Business ("Donley's") by DiGeronimo Companies ("DiGeronimo"). The company, to be known as Donley's IC as part of Independence Construction, expands DiGeronimo's capacity and diversifies its portfolio by creating one of the largest and most capable CM businesses in Northeast Ohio. FMI Capital Advisors served as the exclusive financial advisor to Donley's Inc. for this transaction, which closed on October 1, 2020.
Mac Donley, President and CEO of Donley's explains, "This strategic move positions Donley's to continue investing in and growing our concrete construction business, which ranks 21st nationally and in the top 10 east of the Mississippi in terms of revenue. We feel this sale is good for our CM employees and customers, and good for Donley's as the DiGeronimos have built their leading development and construction business over the past 60 years around the same strong family culture and values that we pride ourselves on."
The acquisition aligns with DiGeronimo's strategic vision to accelerate growth in its existing CM business by pursuing selective, larger institutional projects and partnerships where the company's integrated, single-source development, construction and capital service offerings add the most value.
The sale also features a continuity in leadership, as long-time Donley's Executive Vice President Don Dreier and CM Vice President Greg Consolo will lead the approximately 40 members of the Donley's CM team who will transition with the business and join Independence Construction.
"DiGeronimo and Donley's have been doing business together for 48 years; we know each other's ownership and management teams well," said Vic DiGeronimo, Jr., Chief Executive Officer of DiGeronimo Companies. "We have worked for each other and next to each other. You get to know a lot about people in those environments and we felt this opportunity to increase our capability and capacity was just a perfect fit."
"Success in the construction business comes down to the type of people you have," said Kevin DiGeronimo, principal of DiGeronimo Companies. "Culture is everything to us and both organizations have some of the best people in the industry. We're excited to welcome the Donley's CM team into our family of companies."
About Donley's
Donley's is a fourth generation, nationally recognized leader in structural concrete, design-build and restoration services. The firm has been headquartered in Cleveland since its founding in 1941. The company has a regional presence with additional offices in Virginia, North Carolina and South Carolina. Developing genuine partnerships with its clients and design teams is foundational in Donley's approach. The success of these partnerships is based on Donley's four core values of people, safety, solutions and performance. For more, visit www.donleyinc.com.
About DiGeronimo Companies
One Partner. Every Solution. By definition, a partner is an ally, a teammate, someone to be treated as family. DiGeronimo has been the trusted development and construction partner for hundreds of companies, offering solutions for every project from the ground up. For over 60 years, DiGeronimo has combined integrity with unrivaled standards through a diverse portfolio of services. DiGeronimo Companies is not just a choice, it's an integrated partner for all your project needs. For more, visit www.digeronimocompanies.com.
About FMI Capital Advisors
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm dedicated to the Built Environment. With more than 750 completed M&A transactions, our industry focus enables us to maximize value for our clients through our deep market knowledge, strong technical expertise, and an unparalleled network of industry relationships.
FMI Capital Advisors' Contractor & Construction Services is a dedicated group specializing in M&A, capital formation, and ownership transition services for construction firms and related service providers, including general contractors, civil contractors, specialty trade contractors, and industrial and commercial building service providers.
For more information, visit FMI Capital Advisors.
FMI Capital Advisors Contacts
John Steinegger, Director
[email protected]
303.398.7210
Alex Miller, Managing Director, Contractor & Construction Services
[email protected]
919.785.9234
Media Contact: Liz Hester
Email: [email protected]
Phone: 919.785.9209
SOURCE FMI Corporation
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