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3 days ago
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AdventHealth taps Brasfield & Gorrie for $660M medical tower
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Award: Hospital tower Value: $660 million Location: Orlando, Florida Client: AdventHealth Orlando AdventHealth Orlando has tapped Birmingham, Alabama-based contractor Brasfield & Gorrie to build a 14-story medical tower as the centerpiece of a $1 billion investment from the health system, according to a May 14 news release. The tower comes with a $660 million price tag, according to Health News Florida. Located on AdventHealth's 172-acre campus in downtown Orlando, the facility will have capacity for 24 operating rooms and 440 inpatient beds. It will also provide endoscopy and imaging services. Brasfield & Gorrie, which had $6.4 billion in revenue in 2024 according to Engineering News-Record, has long focused on the healthcare market. It boasts a portfolio ofover 3,100 projects in the sector with a value of $23.2 billion, according to its website. Other aspects of AdventHealth's investment in its Orlando campus include the development of: Advanced services and technologies such as robot-assisted kidney transplants. Its Genomics Risk Assessment for Cancer and Early Detection program, which uses a patient's family history, medical history and artificial intelligence data to assess potential risk. The Little Miracles Unit, which provides more intensive care for infants born as early as 22 weeks. 'This project is paving the way for our Orlando campus to become America's epicenter for surgical advancement, breakthrough treatments, pioneering research and medical education – all centered on our whole-person health philosophy,' said AdventHealth Orlando CEO Rob Deininger in the release. Today, AdventHealth Orlando is home to 24 accredited programs, with 358 accredited residents and fellows. With the investment, it aims to add seven more programs and an additional 109 residents and fellows. The campus currently employs nearly 10,000 people and is on pace to enroll nearly 2,000 students at AdventHealth University, with a goal of 3,000 students when the tower opens. The tower's completion is slated for 2030, according to the release
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4 days ago
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The top commercial contractors of 2025
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. New York City-based Turner Construction has once again retained its top spot as the No. 1 contractor in the country by revenue, according to Engineering News-Record's 2025 Top 400 Commercial Contractors list released last week. Reston, Virginia-based Bechtel reclaimed second place after Omaha, Nebraska-based Kiewit, which placed No. 3 this year, pushed it out of the runner-up slot last year. All three of the top contractors experienced some measure of revenue growth. Turner's 2024 revenue grew to $20.2 billion from $17.1 billion last year, while Bechtel grew to $15.9 billion from $12.9 billion. Kiewit generated $14 billion in 2024 compared to the prior year's $13.8 billion. In a large swing, Falls Church, Virginia-based HITT Contracting leapt up the rankings, jumping from the No. 26 slot last year into the No. 10 position on the back of a revenue increase of approximately $3 billion, according to the report. HITT credited the company's revenue jump with listening to, and evolving alongside, its clients, according to Kim Roy, the company's CEO. 'Over the past five years, we've expanded in key sectors with strong demand and long-term opportunities, such as mission critical, hospitality, healthcare, manufacturing and industrial,' Roy told Construction Dive via email. 'We also continue to grow alongside our long-time corporate and multifamily clients, who have been pivotal to HITT's success.' In addition to HITT, Atlanta-based Holder Construction also made a big leap, to the No. 15 slot from last year's position at No. 30. The company reported $7.7 billion in 2024 revenue, compared to $5 billion in 2023. The list comes as public builders have, for the most part, downplayed the effects that President Donald Trump's tariffs have had on their first quarter earnings performance. Since the rankings depend on 2024 revenue, it can be seen as a lagging indicator of performance, unaffected by tariffs, or even the Trump presidency. Other firms that jumped five spots or more in the top 50 include: Minneapolis-based Mortenson, up to No. 22 from No. 27. Concord, California-based Swinerton, up to No. 30 from No. 35. Tempe, Arizona-based Sundt Construction, up to No. 46 from No. 51. Baton Rouge, Louisiana-based Performance Contractors Inc., which landed at No. 47 despite being unranked last year. Columbus, Kansas-based Crossland Construction Co., up to No. 50 from No. 55. Builders that fell five or more spots in the top 50 include: Providence, Rhode Island-based Gilbane Building Co., which dropped from 11 to 17. St. Louis-based Arco Construction Cos., down to No. 29 from No. 17. Southfield, Michigan-based Barton Malow, down to No. 35 from No. 19. While the leapfrogging activity shows that there's always room at the top, there are red flags building in the construction industry as well. In April, project stress rose, and the private sector neared a multi-year high in abandonments, according to Cincinnati-based ConstructConnect. In addition, the Dodge Momentum Index grew 0.9% in April, a lower rate of growth compared to past months, mostly powered by work in data center projects. Without data centers, the DMI would've dropped 3%. At the same time, optimism remains. Construction backlog rose in April to its highest level since September 2023, particularly for builders with over $100 million in revenue. However, it's down year over year for contractors that made $30 million to $100 million in annual revenue. See the chart below for the top 10 commercial contractors on the list: Ranking Contractor 2024 Revenue 1 Turner Construction $20.2 billion 2 Bechtel $15.9 billion 3 Kiewit Corp. $14 billion 4 The Whiting-Turner Contracting Corp. $13.3 billion 5 MasTec $12.3 billion 6 STO Building Group $12 billion 7 Fluor $11.1 billion 8 DPR Construction $10.8 billion 9 McDermott International $8.9 billion 10 HITT Contracting $8.7 billion Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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5 days ago
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Massachusetts GC taps former Suffolk exec as CFO
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. A Medford, Massachusetts-based general contractor tapped a former Suffolk executive as its new chief financial officer to help steer its next phase of growth, according to a May 20 news release sent to Construction Dive. Bond Brothers recently appointed Suzanne Roeder to the role as the firm expands its presence in healthcare, infrastructure, life sciences and power construction along the East Coast. The construction firm reported more than $800 million in revenue in 2024, according to the release. Roeder most recently served as chief growth officer at Boston-based Suffolk Construction. Prior to that, she served as chief business operations officer at ecommerce startup Perch, where she helped grow revenue from $30 million to nearly $500 million. While there, she managed over 35 acquisitions and led the development of Perch's international expansion strategy. Earlier in her career, Roeder also served as the chief operating officer at Bain & Company, a Boston-based consulting firm, before rising to executive vice president of global strategic initiatives. During her tenure at the firm, she achieved the highest profit-per-partner and employee engagement scores of any Bain location, according to the release. 'Suzanne's appointment reflects our commitment to modernizing the way we think about growth and financial leadership,' said Tony Bond, CEO and president of Bond Brothers, in the release. 'Her strategic vision, combined with her proven ability to drive organizational performance across multiple functions, strongly supports our efforts toward continued geographic and service expansion, optimized customer service and experiences, and overall profitability.' Roeder succeeds Richard Small, who is retiring after leading the company through several years of record-setting performance. Roeder holds a Master of Business Administration from the MIT Sloan School of Management and a Bachelor of Science in systems engineering from the University of Virginia. Recommended Reading Suffolk appoints new chief growth officer Sign in to access your portfolio
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5 days ago
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6 contech startups snare a collective $101M
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Startups that help contractors decarbonize buildings, manage their workforces and make jobsites safer were some of the businesses that benefitted from fresh infusions of investor funding in the second quarter of 2025. Here are six startups that caught investors' eyes and raised capital for their businesses. $28 million Dubai, United Arab Emirates-based WakeCap, a project intelligence software that uses sensors to track construction and safety progress, raised $28 million in a Series A funding round, the firm announced on May 13. Via a sensor that attaches to a construction hard hat, WakeCap's tech picks up data around the jobsite, which is uploaded through its network and onto the platform, according to the company's website. The company said it provides information related to worker access and equipment utilization as well as safety alerts and progress tracking. Users report a 91% reduction in safety issues, a 25% productivity gain and 70% faster incident response times, according to the news release. The new capital will be used to scale WakeCap's presence across existing and new markets, deepen its product capabilities, grow its team and expand integrations with key industry platforms, according to the news release. $23 million San Francisco-based Miter, which offers cloud-based field operations and expense management solutions, announced a recent $23 million Series B funding round led by existing investors Bessemer Venture Partners and Coatue Management, according to a May 19 news release. The round brings its total funding to $38 million. Miter helps contractors modernize their back-office and field operations by connecting human resources, finance and operations into one platform, according to the news release. The company says it typically replaces desktop-based applications or industry-agnostic software. Some of the platform's functions include tools to help with job costing, payroll compliance, employee onboarding, time-tracking, expense management and benefits administration. The firm wrote that builders leveraging the platform save between 20 to 40 hours per week on payroll processing alone. $22 million U.K.-based Converge, an artificial intelligence-powered concrete management and decarbonization tech firm, completed a $22 million investment round, according to a May 21 news release. The startup's flagship platform, ConcreteDNA, offers a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring and data management, according to the news release. The offering helps builders make faster, data-driven decisions, reduce embodied carbon and minimize resource waste, the company said. With the funding, Converge plans to accelerate its commercial expansion and the development of ConcreteDNA. $14.5 million Montreal-based Exterra, a startup that turns mining waste into sustainable building materials, announced a 20 million Canadian dollar ($14.5 million) funding round on May 6. Exterra's offering comes in two segments — using its technology, one process can take waste and produce low-carbon metal oxides alongside other by-products, and another mineralizes carbon dioxide in a single step without the need for carbon capture. It also uses Quebec's low-carbon hydroelectric grid to generate high-demand co-products, which include amorphous silica used for low-carbon building materials. Exterra's commercialization strategy centers on its upcoming asbestos mitigation Hub I project, scheduled to begin construction in 2027 in Quebec, according to the release. The company said it will become the world's largest asbestos mitigation plant, with an annual capacity to process over 300,000 tons of asbestos mine tailings annually. $10.5 million Charlotte, North Carolina-based Field Materials, which developed an AI platform for material and equipment procurement, completed a $10.5 million Series A funding round, the firm announced on April 30. The raise brings the company's total funding amount to $19 million. Using proprietary large language models, Field Materials' AI-product takes in vendor quotes, delivery slips and invoices and automatically enters the data into nine major construction accounting systems. The company said this reduces purchase order and invoice processing time by 90%, improves margins and helps contractors get volume pricing. The company touts large contractors among its customers, including Concord, California-based Swinerton, Sacramento, California-based Teichert and Salt Lake City-based Big-D Construction. With the money, Field Materials plans to double its team and triple its revenue in 2025, according to the news release. $3 million Suffolk Technologies, the venture capital arm of Boston-based builder Suffolk Construction, has invested in Somerville, Massachusetts-based Sublime Systems, a low-carbon cement manufacturer, the firm announced in a May 20 news release. The total influx was $3 million, the venture capital firm told Construction Dive via email. Sublime's manufacturing process replaces the traditional combustion-driven kiln with a proprietary ambient temperature electrochemical process that produces a cement that significantly reduces carbon emissions, according to the release. It has the potential to achieve cost parity at scale with conventional Portland cement, the announcement said. The announcement comes on the heels of a long-term contract that tech giant Microsoft signed with Sublime Systems to buy low-carbon cement to meet its sustainability goals by reducing its construction emissions, according to the news release. In addition, the U.S. Department of Energy selected Sublime Systems last year for an up to $87 million award to speed up construction of a low-carbon cement manufacturing plant in Holyoke, Massachusetts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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5 days ago
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How GCs can cope with problem subs
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. This feature is a part of 'The Dotted Line' series, which takes an in-depth look at the complex legal landscape of the construction industry. To view the entire series, click here Nearly every prime contractor has a story about a nightmare sub. Whether it's shoddy work or simply failing to show up to the jobsite, suboptimal partners in today's labor and skills market are an increasingly common reality. Trent Cotney, a partner and head of the construction practice at Tampa, Florida-based Adams and Reese, said since the COVID-19 pandemic, there has been exponential growth in the use of subcontractors on jobsites. 'A 'problem subcontractor' would be any person or entity who consistently causes issues that would negatively impact a construction project,' he said. 'Common problems include work delays, miscommunication or non-communication, lack of proper equipment or expertise or manpower, a failure to comply with safety regulations, or payment issues and delays — all of which affect project continuity.' To safeguard their interests and ensure project success, attorneys say contractors must understand effective strategies and contractual protections to deal with problem subs. 'If a prime is smart, they will do their homework in advance,' Cotney said. 'Know what you're getting into and don't do work with subs that aren't reliable or get into trouble. It's worth paying more to have a professional subcontractor work with you.' Jeffrey Paul Lutz, a construction attorney in the Atlanta office of CM Law, noted the first line of defense for avoiding problem subs is to conduct a thorough investigation into their past work history and to make thoughtful decisions during the hiring process. 'The lowest bidder means little if hiring them will cost you more in the long run through the change order process, corrective work, dispute resolution and/or the engagement of counsel,' he said. 'I advise all of my contractor clients to conduct detailed background checks, review past performance and verify references to ensure the subcontractor has a solid track record.' The second line of defense would be to draft a clear and comprehensive subcontract that outlines the scope of work, deadlines, quality standards and penalties for non-compliance. "A well-crafted subcontract defines expectations clearly to ensure accountability, quality and timely delivery," Lutz said. During the project, it is important to implement a system for ongoing oversight and quality control to ensure work meets the required standards, and address issues promptly to prevent them from escalating. 'This can be accomplished through effective communication and maintaining open and transparent communication with subcontractors to foster collaboration and quickly resolve any issues,' Lutz said. 'While onsite, regular communication is critical, it is equally important to document your written directives in writing.' GCs face untold risks when working with problem subs — most often in the context of second-rate work and financial losses. After all, GCs are responsible for the work of their subs, so they take on potentially substantial risk if their subs perform poorly. 'Problem subs who fail to meet project specifications, timelines or quality standards will likely cause delays to the project, cost impacts, potential reputational damage and potential legal disputes which last well-beyond the project's duration,' Lutz said. 'Effective risk management strategies, such as thorough vetting, clear contracts and ongoing oversight, can help mitigate these risks.' Mitigating disputes with problem subs boils down to well-drafted contracts and good lines of communication, lawyers say. Chad Caplan, a partner at Albany, New York-based law firm Hinckley Allen, noted regardless of one's due diligence during the selection process, trouble can still arise. That's why the way subcontracts are set up and the provisions they contain can make or break a prime's leverage even before a dispute arises. For example subcontracts should explicitly state that 'time is of the essence,' emphasizing the importance of adhering to deadlines, and should allow for reasonable amendments to project schedules and milestones to accommodate unforeseen circumstances. 'The agreement must specify that certain conditions, such as claim submissions, are strict preconditions, outlining precise timelines, procedures and necessary documentation for claims, including backup materials,' Caplan said. Additionally, limiting liability for consequential damages and clarifying that liquidated damages are not penalties but proportionate to potential losses are crucial. Those clauses should allow liquidated damages to to be assessed relative to the fault of the subcontractor, Caplan said. Even then, problems can arise. Thomas Cotton, a partner with Schenck, Price, Smith & King in Florham Park, New Jersey, warned that a prime contractor should understand there are no 'magic words' that will ensure 100% protection from problem subs. Still, certain provisions can help. For one, he points to flow-down clauses, which bind a subcontractor to the terms of the prime contract. The purpose is to guard against any gaps between what the general contractor and subs agree to do. When a gap appears, consequences should be spelled out clearly, including booting the sub from the job. 'There should also be strong and express remedies for non-performance,' he said. 'The agreement should, among other things, expressly empower the general contractor to terminate the subcontractor, with the maximum discretion to the general contractor, and further allow the general contractor to hire a replacement at the subcontractor's expense.' Additionally, not only should the subcontractor be required to maintain insurance levels that are adequate vis-à-vis any loss exposures, the subcontractor should also be required to add the general contractor and others as additional insureds to their policies. 'It's imperative that subcontractors maintain specific levels of insurance coverage to protect against potential liabilities,' Lutz said. 'Also, indemnification clauses protect the GC from claims arising from the subcontractor's actions. Payment and performance bonds can also be required as another assurance that a subcontractor's failures will not lead to an overall project failure. 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