Omnibuild Construction Announces Acquisition of Cava Construction

Nov 11, 2015, 11:00 ET from Omnibuild Construction

NEW YORK, Nov. 11, 2015 /PRNewswire/ -- Omnibuild Construction Inc., (Omnibuild) a leading mid-size construction management company in New York City, announced today it is acquiring Cava Construction & Development Inc. (Cava).

The combined companies, which will begin operating immediately under the Omnibuild brand, will employ more than 100 professionals and is projecting more than $200 million in revenues in 2015. The new management team will be led by Peter Serpico, Chief Executive Officer and John Mingione, Chief Operating Officer. Including this acquisition, Omnibuild now has 16 major projects underway in the New York metropolitan area, including the Hilton Garden Inn at 6 Water Street, the Courtyard Marriot at 133 Greenwich Street, and the Doubletree Hotel at 350 West 40th Street.

"This acquisition merges two great brands into a single company and expands our ability to compete for larger and more complex construction projects," said John Mingione, Chief Operating Officer of Omnibuild. "The two companies have worked together on many projects, and we believe operating together under one brand, Omnibuild, will give us a strategic advantage in accessing top construction talent and enhance our ability to compete in the New York marketplace."

"We are very excited about Omnibuild's future and the opportunity it presents to our clients and employees," said Peter Serpico, who has been appointed the Chief Executive Officer by Mingione. "Omnibuild is now one of the leading mid-sized firms in New York, managing both new, out-of-the-ground, high-rise construction projects and multi-level renovations in existing buildings. We have enjoyed great success as joint venture partners on previous projects, and now as one company, we will be able to pursue a more focused growth strategy that will benefit the entire Omnibuild team."

The combined enterprise has built or renovated more than two and a half million square feet of commercial and residential space in the city, focusing primarily on hospitality and multi-tenant buildings.

About Omnibuild Construction
Founded in 2007, Omnibuild specializes in new, out-of-the-ground, high-rise construction projects; commercial/hospitality renovation work; and unique infrastructure improvement projects. Through organic and acquisition, the company has grown to revenues exceeding $200 million and has built more than 8,500 vertical feet of new construction in the New York area. Omnibuild currently employs more than 100 full-time team members. For more information please visit: www.omnibuild.com

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SOURCE Omnibuild Construction



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