by Paul Gatling
Posted 10/3/2012 08:29 am
Updated 7 months ago
Commercial contractor Flintco LLC has signed a non-binding letter of intent to begin talks with St. Louis-based construction company Alberici Corp., to study the possibility of Alberici acquiring the Oklahoma-based company.
Flintco, founded in 1908, has headquarters in Tulsa and eight division offices across the country, one of them in Springdale.
Its operating divisions provide a full range of services, including preconstruction, construction management, design-build, project and program management, as well as general contracting
A statement issued Monday by Flintco officials said if the transaction were completed, Flintco would continue to operate using the Flintco name and its employees and divisions would all be retained.
"The attributes of such a strategy are compelling," the statement said. "Both companies are deeply rooted in a steep sense of family, with strong traditions of safety, customer service and operational excellence."
The statement did not include any mention of an acquisition price.
There will be a two-month "due diligence" period to study details of a potential transaction.
If the transaction moves forward, the sale of Flintco's shares to Alberici would then be finalized.
Flintco's Springdale division generated $82 million in revenue in 2011.
Projects of note in Northwest Arkansas include the 21c Museum Hotel in Bentonville, the University of Arkansas football operations center in Fayetteville, Heritage High School in Rogers, and the Shewmaker Global Business Development Center at Northwest Arkansas Community College in Bentonville.