SOURCE: Goodfellow Bros., Inc.

Goodfellow Bros., Inc.

October 25, 2012 14:04 ET

Goodfellow Bros. Inc. Acquires Top Grade Construction

Goodfellow Bros. Expands Operations to California With Acquisition of Leading San Francisco Bay Area Construction Company

KIHEI, HI and SEATTLE, WA--(Marketwire - Oct 25, 2012) - Goodfellow Bros., Inc., a fourth-generation, family-owned construction firm with headquarters in Hawaii and Washington, today announced completion of the acquisition of Top Grade Construction, Inc., of Livermore, California. With this acquisition, Goodfellow Bros. further strengthens its presence in the Northwest and immediately expands its operation into California by leveraging Top Grade Construction's highly skilled employee base and excellent market reputation. 

Under the terms of the acquisition, the California Company will continue to operate as Top Grade Construction, a Goodfellow Bros. Company, with headquarters in Livermore. Top Grade will be able to take advantage of Goodfellow Bros. resources, including staff, equipment, and a proven design-build support team. The acquisition also gives the California subsidiary increased bonding capacity, drawing from Goodfellow Bros.' financial strength.

Top Grade's strong resume of clients includes the majority of Bay Area general contractors, various developers and virtually all of the local city, county and state contracting agencies. The company is currently the civil contractor on the construction of the highly visible new 49ers stadium being built in Santa Clara, California.

"We felt the opportunity to work with the team at Top Grade Construction was quite attractive when it became evident that they have exactly what we were looking for -- an exceptional group of high-performing employees, a respected name with strong relationships in the communities in which they live and work, and most importantly, similar values and corporate cultures," said Steve Goodfellow, CEO of Goodfellow Bros.

"What makes this partnership so perfect is the cultural alignment between our two organizations," said Bill Gates, founder of Top Grade Construction. "We are both family-owned firms with a commitment to providing superior customer service. And we are committed to our most dedicated asset -- our people. Each company also is well-diversified in both public and private works, and maintains close client relationships."

Goodfellow Bros. has been interested in the California market for some time, but the mature nature of the California construction market made expansion challenging. Goodfellow and Top Grade recognize the need for strong client relationships, and with this acquisition both companies can build on those relationships in their respective markets. The two firms also share much of the same expertise in three-dimensional modeling and the use of Global Positioning systems. Both companies will be able to compete more effectively, using economies of scale to provide lower cost/higher quality bids for their clients.

"For all of us at Goodfellow Bros., this is a wonderful opportunity. It is a chance to work with exceptional people in an exciting community, with a brilliant future. We look forward to making this a great success," said Chad Goodfellow, President of Goodfellow Bros.

Top Grade Construction has more than 80 full-time office and supervisory staff and more than 300 union trade employees, with headquarters in Livermore and offices in Lodi, California. Goodfellow Bros., Inc., is a family-owned construction firm with more than 100 office and supervisory employees and 450 union trade employees and operates in Canada, Washington, Oregon, and throughout the Hawaiian Islands.

About Top Grade Construction

Top Grade Construction, Inc., is a premier California-based general engineering contractor with projects spanning from Riverside to Sacramento. Founded in 1990 and headquartered in Livermore, Calif., the company specializes in heavy highway and civil engineering construction services, including general site preparation, earth moving, excavation, grading and paving. Top Grade's clients include many of the major commercial builders, various developers as well as virtually all of the local city, county, state and federal contracting agencies. Top Grade Construction has earned its stellar reputation within the construction industry through its commitment to providing superior customer service, competitive pricing, quality workmanship, state-of-the-art equipment and highly skilled, professional employees on every project. For more information, visit www.topgradeconstruction.com.

About Goodfellow Bros., Inc.

Established in 1921 in Wenatchee, Washington, Goodfellow Bros. is a fourth-generation, family-owned business with more than 90 years in the construction industry. The company has a reputation for professionalism and integrity that reflects its longstanding commitment to the individuals, businesses and resources of the communities in which they live and work. Goodfellow Bros. has headquarters in Wenatchee, Washington, and Kihei, Hawaii, and maintains offices in Canada, Washington, Oregon, and throughtout the Hawaiian Islands. For more information, visit. http://www.goodfellowbros.com.

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