SRBA Group acquires 60% stake in US construction company cleanrooms Corporate Construction Inc.
With effect from 22 October 2024, the SRBA Group has acquired a 60% stake in US-based Corporate Construction Inc, which specialises in building cleanrooms for the US market. The SRBA Group is thus fulfilling its promise to expand its scope of operations through Merger and Aquisition on an international level.
Corporate Construction Inc. is based in the state of Connecticut, immediately adjacent to New York State, in the town of Brookfield. Both founders Jonathan Draper and Joseph Viola will continue to run the day-to-day management of the 25-year-old company with 50 permanent employees, possessing the talent, training and dedication to deliver the highest achievable quality, along with a flexible shell of around 150 colleagues.
Two top-priority strategic objectives
In early 2023, the merger between Brecon Cleanroom Systems and the Muller Afbouwgroep led to the creation of the new company SRBA Group. Two strategic objectives had top priority in this: the Controlled Environment (CE) division wished to expand its field of activity through Merger and Aquisition on an international level and group sales were to exceed €100 million by 2025. So now that is actually going to happen.
The new ‘Corporate Construction SRBA’ will continue its contracting and construction management activities as ever in the US, in the industrial and commercial market sectors. The revenue share residential construction, and maintenance and renovation activities, the company realises mainly in Connecticut and surrounding states. The range of industrial clients in general, and in particular the relationships working in the High-tech and Lifescience sectors, require a more national spread distributed across the US as a whole.
Turnover share 80 % within CE market
Corporate Construction Inc. expects to achieve a turnover of $ 65 million by 2024. In recent years, the CE market in particular has experienced strong growth and is the most important division in the organisation with over $ 50 million turnover share. Almost 60 % of this CE turnover is realised for the international semi-conductor industry, many of which are of Dutch origin and well known to SRBA CE. Life Science market segments such as Healthcare and (Bio-)Pharma are growing strongly with 40% revenue share.
Over the past 10 years, Corporate Construction Inc. has earned its spurs as a ‘General Contracting’ partner for the specialised CE market, whereby the realisation of the structural outer shell is often carried out in combination with the construction of the indoor cleanroom and lab facilities. The assignments are mostly Design and Built projects, similar to SRBA-CE's modus operandi on the European market. It is precisely the combined experience and knowledge of cleanroom technology on the one hand, and the expected global annual growth of 7 to 8 % in this sector on the other, that makes this acquisition so interesting.
Next challenge: Germany
‘The management of the Dutch CE division is keen to share the various product systems and joint knowledge as soon as possible in order to expand our customer base on both sides of the ocean as a fully-fledged CE partner with new relationships in the aforementioned market sectors,’ said SRBA Group CFO Wim van Ree, responsible for M&A. ‘It was a great challenge for the SRBA Group to be able to realise this acquisition in America. The next challenge now is to force our growth through an acquisition in the German-speaking CE market!’
Information
SRBA Controlled Environment (CE)
Dry Dock Island 7
5026 SP Tilburg
Netherlands
T: +31 (0)88 035 52 00
E: srbace@srbagroup.com
W: www.srbagroup.com
About SRBA Group
SRBA Group was formed in February 2023 from the merger of Brecon and Muller Afbouw Groep. The abbreviation SRBA stands for Smart Reliable Building Achievements. Combining all activities in the SRBA Group creates a powerful company in the field of total concepts for offices, laboratories and other controlled environment facilities.
SRBA Group works from different divisions towards one common goal: to realise innovative and impactful spaces for the next generation. SRBA Group's head office is located in Tilburg. Information: www.srbagroup.com.
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