A Special Announcement
Donley’s Eyes an Even Brighter Concrete Future as it Positions Itself for Growth
Company Signs Letter of Intent to sell Construction Management Business to Independence Construction
Cleveland, Ohio, September 1, 2020 – Donley’s today positioned itself for even stronger growth by announcing its intention to sell the company’s Construction Management (CM) business to Independence Construction of Independence, Ohio, part of the DiGeronimo Family of Companies. The move will position Donley’s to continue investing in and growing its concrete business across multiple geographies.
“Being a market leader in what we do and where we do it is central to our strategic vision,” said Mac Donley, President and CEO of Donley’s. “We feel this sale is good for our employees, good for our customers, and good for Donley’s as the DiGeronimos have built their leading development and construction business over the past 60 years around the same strong family culture and values that we pride ourselves on.”
The acquisition aligns with Independence Construction’s strategic vision to accelerate growth in its existing CM business by pursuing selective, larger institutional projects and partnerships where DiGeronimo’s industry-leading integrated, single-source development, construction and capital service offerings add the most value.
“Success in the construction business comes down to the type of people you have,” said Kevin DiGeronimo, principal of DiGeronimo Companies. “Culture is everything to us and both organizations have some of the best people in the industry. We’re excited to welcome the Donley’s CM team into our family of companies.”
The sale also features a continuity in leadership, as long-time Donley’s Executive Vice President Don Dreier and CM Vice President Greg Consolo will lead the approximately 40 members of the Donley’s CM team who will transition with the business and join Independence Construction. The Donley’s name is expected to be retained for a period of two years.
Donley’s concrete business is currently ranked 8th largest east of the Mississippi and 20th largest in the nation. The acquisition is expected to close on or about October 1, 2020.
Swagelok Global Headquarters and Innovation Center.
Donley’s is serving as construction manager for Swagelok’s new Global Headquarters and Innovation Center (GHQ) in Solon, OH. The 130,000 square feet building will be able to accommodate 250 employees. The facility will include areas dedicated to sales support, executive leadership, and corporate engineering. There will also be a Customer Welcome and Innovation Center on-site. The headquarters is expected to be completed in the spring of 2021.
Donley’s provided concrete services for Choate Construction on the FNB Tower at 501 Fayetteville, the latest addition to the downtown Raleigh skyline. Pennsylvania-based, First National Bank, anchors the 22-story building with a 40,000-SF regional headquarters.