Garney Acquires Florida-Based Encore Construction
Garney Holding Company announced its latest expansion with the acquisition of Encore Construction Company, based out of Winter Garden, Florida. Encore is an environmental contractor specializing in the construction of water and wastewater treatment facilities and pump stations. Encore has approximately 125 employees with projected revenues of $80 million for 2012. Acquiring Encore will significantly enhance Garney’s treatment plant construction operations in the Southeast United States.
In addition to Encore's strong plant capabilities in the Southeast, Garney was attracted to their culture, which closely mimics the strong culture and core values at Garney. Pat Rainey, founder and principal of the company, is planning to retire in the next few years and will be divesting his ownership in the company. Selling his company to Garney interested Pat because of Garney's employee-ownership structure. This ownership structure gives the Encore employees a great opportunity to obtain a stake in Garney, build a successful career with a leader in the industry, and retire securely.
"We are excited to welcome the Encore organization as our newest employee-owners," said Mike Heitmann, President of Garney Construction. "We are fortunate to have acquired a dedicated, hard-working team of people at Encore and look forward to talking new opportunities with our combined forces. We have an opportunity to learn from Encore's strengths as well as show them the strengths of Garney, thereby enabling both organizations to continue leading the water and wastewater industry."
Encore Construction was organized as a Sole Proprietorship in 1984 by founder Patrick T. Rainey. The company initially operated as a concrete foundation firm. Encore took advantage of the construction boom that Disney and other theme parks brough to Central Florida during its first year of operation in 1985. By the end of the year, Encore had 10 full-time employees and was incorporated in the State of Florida. By 1989, Encore had developed a niche in the water and wastewater treatment plant market segment, where the company's main focus is today.
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