Industry News: 1 Big Construction Merger & 2 Potential Sales

What’s Santa bringing you this season? For Layton Construction and STO Building Group, it’s a big fat merger. The two companies announced last week that Layton and STO will merge by the end of the year. New York-based STO, previously known as Structure Tone Organization, will use the merger to expand its geographic area and enter new sectors, such as industrial and healthcare.

Financial information concerning the merger has not been disclosed, but Layton will retain its name and logo, and the Layton leadership team will retain ownership of the company and their leadership positions. The companies said the merger will create the fourth largest company in the United States. 

In Other News

Since announcing it will restructure parts of the business in September of this year, Fluor Corporation’s Chief Executive Officer Carlos Hernandez said last week that the Texas-based firm has received interest from several serious buyers regarding both the government business and the Ameco construction rental equipment business. Hernandez said Fluor hopes to finalize a deal for the Ameco business by mid-2020. The firm expects to finalize the sale of the government division soon after. 

Want more industry business news? 

• McDermott reaches short-term debt agreement with shareholders 
• Skanska launches its first commercial development practice in Los Angeles 
• Tutor Perini owes $8 million to subsidiary, judge concludes