Howard S. Wright sold to Balfour Beatty


Portland’s commercial contractor Howard S. Wright has sold to Balfour Beatty Construction of Dallas, Texas.

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Portland’s commercial contractor Howard S. Wright has sold to Balfour Beatty Construction of Dallas, Texas.

HSW has over 300 employees in Portland, Seattle and the Bay Area.

Balfour Beatty, itself a subsidiary of a British company, agreed to pay about $93 million for the company. It will pay $70 million at closing. The balance will be paid over the subsequent 4.5 years if HSW satisfies certain financial projections. 

HSW operations will remain largely unchanged. Brad Nydahl, HSW chief executive, will stay in charge. In fact, Balfour Beatty requested that Nydahl, Executive Vice President Mitch Hornecker and other top HSW executives sign employment contracts locking them in their current spots for five years. 

The deal means that three of the top 10 commercial contractors in Portland will be foreign owned. Skanska USA, which acquired the former Baugh Construction in 2000 is owned by a Swedish firm. And Turner Construction has a German parent.

Read more at OregonLive.com.

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