Castle Contracting Acquired by McCarthy

By on August 14, 2014

From the St. Louis Business Journal: McCarthy Holdings Inc. will purchase the $30 million St. Louis firm Castle Contracting and its subsidiary CastleGPS, its first acquisition in more than 20 years.

Terms of the deal, expected to close in October, were not disclosed.

Scott Wittkop, McCarthy central division president, said the deal would help McCarthy, which had 2013 revenue of $3.23 billion, expand its services offered.

“(Castle) has industry leading 3D subsurface utility mapping,” he said. “They’re creating a building information model that we can use in virtual construction.”

Also, “we’ve got a lot of institutional clients who have years and years of utilities that they don’t have a handle on anymore,” Wittkop said, adding that Castle’s technology will benefit those customers.

Castle, at 345 Marshall Ave., will remain a stand-alone business. Its 35 office employees and more than 100 workers in the field will remain with the firm.

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