Today the STO Building Group and Layton Construction announced their intent for the nationally-ranked commercial construction firm to join the STO family of companies. The merger will allow both firms to leverage each other’s geographic reach to better serve clients with multiple locations and enhance the services and areas of expertise they can offer across that expanded footprint.
“Joining the STO family provides our customers greater support nationwide and our employees greater opportunities to grow professionally and personally. This is the next logical step in our evolution as a growing, successful company,” says David S. Layton, president and CEO of Layton Construction. “The alignment of both our cultures and our ability to adhere to our Layton Way was a driving factor—it allows us to capitalize on relationships nationwide and expand our areas of expertise while continuing to provide our customers with the predictable outcomes they have come to expect from Layton.”
Layton Construction is a nationally-ranked commercial contractor with proven experience in virtually every industry, including healthcare, retail, hospitality, manufacturing, distribution, education, office, industrial, detention, tenant improvement, and public facilities. Headquartered in Utah, the 1,000-person firm also has offices in Arizona, California, Colorado, Florida, Hawaii, Idaho, and Tennessee. Some of the company’s signature projects include the Eccles Theater in Salt Lake City, the Faena Forum in Miami, the University Hospital in San Antonio, the Montage Deer Valley in Park City, Rice-Eccles Stadium at the University of Utah, Monarch Beach Resort in Dana Point, Kapi’olani Medical Center in Honolulu, Koloa Landing on Kauai, Saint Alphonsus Medical Center in Boise, The Ritz-Carlton Paradise Valley, Nationwide Insurance Scottsdale, the Boise Airport, the Westdrift Hotel in Los Angeles, the Ae`o Tower in Honolulu, and Vanderbilt University Residential Towers in Nashville.
“Layton is a terrific addition to our family of companies,” says Robert Mullen, STO Building Group CEO. “Not only will their reach bring us into new areas of the country, but their expertise will enhance the services we can offer our clients, such as their extensive, national portfolio of projects in the healthcare and industrial sectors. Our ability to offer stock ownership to employees was another key factor in their decision. We are thrilled to have them join STO.”
Formerly operating as the Structure Tone Organization, STO recently restructured as the STO Building Group to provide a platform for growth that allows each of its member companies to maintain their cultural identity while leveraging the strengths of a multicompany organization. In the last three years, Canadian firm Govan Brown and US firms Ajax Building Company and BCCI Construction have merged with STO Building Group.
“Opportunities like this with Layton are the very reason we shifted our company structure to STO Building Group last year,” says James Donaghy, STO Building Group executive chairman. “We value the reputation and heritage of the firms who merge with our organization, and each has kept its name as a way to honor that legacy. As we continue to grow, we want to respect that history, but also reflect the collective expertise our companies offer and allow our employees to benefit from the larger organization’s resources.”
The merger is expected to be completed by the end of December 2019. Layton Construction will retain its name, logo, and cultural identity, and its current leaders will retain an ownership position in the organization and maintain their roles as the senior leadership team of the business. It is anticipated that new job opportunities will be created as a result of the merger to support the company’s projected growth for 2020 and beyond.
Related Stories
| Dec 17, 2010
5 Tips on Building with SIPs
Structural insulated panels are gaining the attention of Building Teams interested in achieving high-performance building envelopes in commercial, industrial, and institutional projects.
| Dec 17, 2010
How to Win More University Projects
University architects representing four prominent institutions of higher learning tell how your firm can get the inside track on major projects.
| Dec 13, 2010
Energy efficiency No. 1 priority for commercial office tenants
Green building initiatives are a key influencer when tenants decide to sign a commercial real estate lease, according to a survey by GE Capital Real Estate. The survey, which was conducted over the past year and included more than 2,220 office tenants in the U.S., Canada, France, Germany, Sweden, the UK, Spain, and Japan, shows that energy efficiency remains the No. 1 priority in most countries. Also ranking near the top: waste reduction programs and indoor air.
| Dec 7, 2010
Are green building RFPs more important than contracts?
The Request for Proposal (RFP) process is key to managing a successful LEED project, according to Green Building Law Update. While most people think a contract is the key element to a successful construction project, successfully managing a LEED project requires a clear RFP that addresses many of the problems that can lead to litigation.
| Dec 7, 2010
Blue is the future of green design
Blue design creates places that are not just neutral, but actually add back to the world and is the future of sustainable design and architecture, according to an interview with Paul Eagle, managing director of Perkins+Will, New York; and Janice Barnes, principal at the firm and global discipline leader for planning and strategies.
| Dec 7, 2010
Green building thrives in shaky economy
Green building’s momentum hasn’t been stopped by the economic recession and will keep speeding through the recovery, while at the same time building owners are looking to go green more for economic reasons than environmental ones. Green building has grown 50% in the past two years; total construction starts have shrunk 26% over the same time period, according to “Green Outlook 2011” report. The green-building sector is expected to nearly triple by 2015, representing as much as $145 billion in new construction activity.
| Dec 7, 2010
USGBC: Wood-certification benchmarks fail to pass
The proposed Forest Certification Benchmark to determine when wood-certification groups would have their certification qualify for points in the LEED rating systemdid not pass the USGBC member ballot. As a result, the Certified Wood credit in LEED will remain as it is currently written. To date, only wood certified by the Forest Stewardship Council qualifies for a point in the LEED, while other organizations, such as the Sustainable Forestry Initiative, the Canadian Standards Association, and the American Tree Farm System, are excluded.
| Dec 7, 2010
AGC of A Survey: 2011 Construction Industry Hiring and Business Outlook
The Associated General Contractors of America wants to know about your construction company’s business outlook for 2011. Help out the Association by answering a few quick questions in their 2011 Construction Industry Hiring and Business Outlook survey.
| Dec 7, 2010
Prospects for multifamily sector improve greatly
The multifamily sector is showing signs of a real recovery, with nearly 22,000 new apartment units delivered to the market. Net absorption in the third quarter surged by 94,000 units, dropping the national vacancy rate from 7.8% to 7.1%, one of the largest quarterly drops on record, and rents increased for the second quarter in a row.
