B & I Contractors Inc. Market Research Report

Background

Overview

Established in 1960 by Gordon Harbuck, B & I Contractors Inc. is a Florida-based, employee-owned company specializing in mechanical, electrical, and plumbing systems for commercial, institutional, and industrial projects. Operating under its original Articles of Incorporation since 1963, the company has built a reputation for delivering high-quality services across various sectors.

Mission and Vision

B & I Contractors Inc. is committed to providing exceptional performance in mechanical systems, service, electrical, plumbing, and cross-discipline maintenance for commercial building contractors and the structures they build. The company aims to be a leading specialty contractor in Florida, offering innovative solutions and maintaining a focus on quality and value.

Primary Area of Focus

The company specializes in the installation and service of mechanical, electrical, and plumbing systems, catering to large commercial, institutional, and industrial projects. Their services encompass HVAC, plumbing, electrical, pipe-fitting, welding, and sheet metal work.

Industry Significance

B & I Contractors Inc. is recognized as one of Florida's leading specialty contractors, with over 4,800 completed projects and more than 1,100 trained professionals. The company has been instrumental in shaping the state's infrastructure and continues to play a pivotal role in the construction industry.

Key Strategic Focus

Core Objectives

Quality and Value: Delivering high-quality services that provide value to clients.

Innovation: Implementing progressive and innovative solutions in all projects.

Employee Ownership: Fostering a culture of ownership and accountability among employees.

Specific Areas of Specialization

Mechanical Systems: Comprehensive services in HVAC, plumbing, and electrical systems.

Cross-Discipline Maintenance: Integrated maintenance solutions across various systems.

Fabrication Capabilities: State-of-the-art fabrication facilities for sheet metal and pipe work.

Key Technologies Utilized

Building Information Modeling (BIM): Utilized for efficient project planning and coordination.

Computer-Aided Design (CAD): Employed in the design and fabrication processes.

Project Management Software: Integrated systems for document control and project tracking.

Primary Markets Targeted

Commercial Construction: Office buildings, retail spaces, and mixed-use developments.

Institutional Projects: Educational facilities, healthcare centers, and government buildings.

Industrial Projects: Manufacturing plants, warehouses, and distribution centers.

Financials and Funding

Funding History

B & I Contractors Inc. is a privately held, employee-owned company. An Employee Stock Ownership Plan (ESOP) was established in 1986, and the ESOP now owns 100% of the corporate stock.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

As an employee-owned company, the primary stakeholders are its employees through the ESOP.

Intended Utilization of Capital

Capital is primarily utilized for operational expenses, project execution, and maintaining the company's fabrication facilities.

Pipeline Development

Key Pipeline Candidates

B & I Contractors Inc. is involved in various ongoing projects across Florida, including:

Feeding Tampa Bay: Providing mechanical systems for the facility.

Spirit Airlines Headquarters: Installation of HVAC and plumbing systems.

Jabil New Roosevelt: Electrical and mechanical services for the new facility.

Lee County Sports Complex: Comprehensive mechanical and electrical installations.

USF Research Center: Advanced HVAC and plumbing systems for the center.

Golisano Children's Hospital: Specialized mechanical systems for the hospital.

Stages of Development

These projects are in various stages, from design and planning to active construction and nearing completion.

Target Conditions

The company focuses on large-scale commercial and institutional projects, ensuring that all systems meet the specific requirements of each facility.

Anticipated Milestones

Completion timelines vary by project, with most expected to conclude within the next 12 to 24 months.

Technological Platform and Innovation

Proprietary Technologies

B & I Contractors Inc. employs proprietary methods in sheet metal and pipe fabrication, enhancing efficiency and precision in their installations.

Significant Scientific Methods

Prefabrication Techniques: Utilizing advanced fabrication facilities to pre-assemble components, reducing on-site construction time.

Integrated Project Delivery (IPD): Collaborative approach involving all stakeholders to optimize project outcomes.

AI-Driven Capabilities

While specific AI-driven technologies are not detailed, the company integrates advanced software solutions for project management and design processes.

Leadership Team

Executive Profiles

Gary H. Griffin, BSME, PE: Chief Executive Officer.

Professional Background: Extensive experience in mechanical engineering and leadership within the construction industry.

Contributions: Oversees strategic direction and operational management of the company.

Brian Kelly: Executive Vice President & Chief Financial Officer.

Professional Background: Background in finance and accounting, with a focus on the construction sector.

Contributions: Manages financial operations and strategic financial planning.

Nancy Driscoll: Senior Recruiting Specialist.

Professional Background: Specializes in talent acquisition and human resources management.

Contributions: Leads recruitment efforts to attract and retain top talent.

Chris Heizmann: Solution Expert and IT Project Lead.

Professional Background: Expertise in IT solutions and project management within the construction industry.

Contributions: Oversees technological initiatives and IT infrastructure.

Leadership Changes

Specific details regarding recent leadership changes are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The Florida construction market is robust, with a growing demand for commercial and institutional projects. B & I Contractors Inc. faces competition from both regional and national firms.

Competitor Analysis

Randall Mechanical: Established in 1986, headquartered in Apopka, Florida, specializing in diversified construction services.

Tricor Mechanical: Founded in 2010, based in Garden Grove, California, offering real estate and construction services.

Tomcat Inc.: Details not specified, but recognized as a competitor in the mechanical contracting sector.

Competitive Landscape

B & I Contractors Inc. holds a strong position in the Florida market, with a diverse portfolio and extensive experience. The company differentiates itself through its employee ownership model, fostering a culture of accountability and quality.

Strategic Collaborations and Partnerships

Significant Collaborations

B & I Contractors Inc. collaborates with various construction firms, including Stevens Construction, Inc., DeAngelis Diamond Construction, and CAM, Inc., to deliver comprehensive solutions on large-scale projects.

Partnerships

The company maintains partnerships with suppliers and subcontractors to ensure the timely and efficient delivery of services.

Operational Insights

Strategic Considerations

B & I Contractors Inc. focuses on maintaining high standards of quality and safety, which are critical in the competitive construction industry. The company's employee ownership structure contributes to a strong commitment to project success and client satisfaction.

Competitive Advantages

Employee Ownership: Promotes a culture of ownership and accountability.

Comprehensive Services: Offers a full range of mechanical, electrical, and plumbing services.

Experience: Over 4,800 completed projects with a team of over 1,100 trained professionals.

Strategic Opportunities and Future Directions

Strategic Roadmap

B & I Contractors Inc. aims to expand its market presence by leveraging its expertise in large-scale projects and employee ownership model. The company plans to invest in technology and training to enhance operational efficiency and service delivery.

Future Business Directions