Clyde Companies Inc., a construction organization based in Orem, has acquired Denver-based Interstate Highway Construction (IHC) in a stock acquisition deal that finalized on Dec 31.
IHC had previously merged with Scott Contracting, a construction company also operating in the Denver metro area, which was previously acquired by Clyde Companies in 2018. The two companies will be combined as IHC Scott Inc. and will continue to serve the Denver market with high-quality construction products and services, Clyde said in a release.
“We are excited to welcome IHC to the family of Clyde companies. We are confident this acquisition will strengthen our company’s strategic growth throughout the Intermountain West as we continue to operate committed to our mission statement, ‘Building a Better Community,’” said Jeremy Hafen, president of Clyde Companies Inc.
IHC began in 1947 as a small contractor in Michigan and over the years has become a highly diversified airport, heavy civil and highway construction contractor. IHC specializes in concrete paving and has proven expertise managing complex construction projects and building high-quality PCC pavements to exacting standards, Clyde said. Today, IHC operates three separate divisions operating a wide range of projects in the regions of the Rocky Mountain, Midwest and Southwestern United States.
“IHC will grow to the next level under Clyde Companies’ ownership. We sought a buyer with strong financial resources, a compatible culture, and similar operational philosophy, and we are delighted with the expanded opportunities Clyde will afford our employees and competitive standpoint in the market,” said Ken Schaeffer, outgoing CEO of IHC.
Clyde Companies Inc. has been involved in almost every aspect of building and construction in the Intermountain West for nearly a century. The family of subsidiary companies operates throughout the Intermountain West, including Utah, Colorado, Idaho, Nevada, Arizona and Wyoming. With a workforce of over 4,000 and more than 100 locations, the Clyde Companies collaborate on thousands of projects each year.
The transition and implementation of the merger will take place over the next several months. Jim Golding, president of the Construction Materials and Services Group at Clyde Companies, will oversee the merger with Jim Randall, incoming president of IHC Scott, and Lon Schumacher, division president of IHC Scott.