Grace Pacific LLC: Company Profile

Background

Overview

Grace Pacific LLC, established in 1931 as Grace Brothers, Ltd., has been a cornerstone in Hawaii's infrastructure development for over nine decades. The company specializes in asphalt paving, construction materials, and related services, playing a pivotal role in enhancing the state's transportation networks, including roads, highways, and airport runways.

Mission and Vision

Grace Pacific's mission is to keep Hawaii's families safe by building and maintaining the roads, highways, and runways that connect island communities. Their vision is to continue serving Hawaii with excellence for another century and beyond.

Industry Significance

As Hawaii's largest asphalt paving contractor, Grace Pacific has been instrumental in the state's growth and prosperity. Their expertise spans various infrastructure projects, including airport runways, harbor wharves, highways, bridges, and more, solidifying their position as a leader in the paving industry.

Key Strategic Focus

Core Objectives

Grace Pacific aims to deliver high-quality construction materials and services, ensuring the safety and connectivity of Hawaii's communities through reliable infrastructure development.

Areas of Specialization

Asphalt Paving: Providing comprehensive paving solutions for roads, highways, and airport runways.

Construction Materials: Supplying hot mix asphalt, concrete, and construction aggregates.

Roadway Safety Products: Offering guardrails, road signs, and traffic barriers.

Maintenance Services: Providing asphalt pavement crack sealing, seal coating, striping, and corrosion protection.

Key Technologies Utilized

Grace Pacific employs advanced technologies in asphalt mixing, paving equipment, and quality control processes to ensure the durability and safety of their projects.

Primary Markets

The company primarily serves the Hawaiian islands of Oahu, Hawaii, Maui, and Kauai, catering to both public and private sector clients.

Financials and Funding

Funding History

In 2013, Alexander & Baldwin, Inc. acquired Grace Pacific for $235 million, integrating it into their portfolio.

Recent Developments

In November 2023, Nan, Inc., Hawaii's largest locally owned construction company, acquired Grace Pacific from Alexander & Baldwin for $57.5 million. This acquisition aims to enhance Nan, Inc.'s service offerings and strengthen its presence in Hawaii's construction industry.

Pipeline Development

Specific details regarding Grace Pacific's current pipeline projects are not publicly disclosed. However, the company's extensive portfolio includes significant infrastructure projects across Hawaii, such as road resurfacing, bridge renovations, and airport runway enhancements.

Technological Platform and Innovation

Proprietary Technologies

Grace Pacific utilizes state-of-the-art asphalt mixing plants and paving equipment to ensure high-quality and durable road surfaces.

Significant Scientific Methods

The company employs advanced quality control processes, including material testing and performance evaluations, to maintain the integrity of their construction materials and services.

Leadership Team

Executive Profiles

David H. Hulihee: Chief Executive Officer and President. Under his leadership, Grace Pacific has maintained its position as a leading paving contractor in Hawaii.

Myles Mizokami: Chief Operating Officer, appointed in March 2021. He brings over a decade of experience in civil infrastructure projects and has previously served as Director of Civil Operations at Nan, Inc.

Competitor Profile

Market Insights and Dynamics

The Hawaiian construction industry is characterized by a competitive landscape with several key players offering similar services. The market is influenced by factors such as infrastructure development needs, government contracts, and private sector projects.

Competitor Analysis

Nan, Inc.: Hawaii's largest locally owned construction company, specializing in large-scale preconstruction, general contracting, and design-build services statewide. Their acquisition of Grace Pacific in 2023 has significantly expanded their capabilities in the paving sector.

Hawaiian Dredging Construction Company: A major competitor in the Hawaiian construction industry, offering a range of services including general contracting and construction management.

Kiewit Infrastructure West Co.: Part of the Kiewit Corporation, providing heavy civil construction services in Hawaii, including paving and roadwork.

Strategic Collaborations and Partnerships

Grace Pacific has established partnerships with various local and state agencies to undertake significant infrastructure projects, contributing to the development and maintenance of Hawaii's transportation networks.

Operational Insights

Grace Pacific's strategic considerations include maintaining high-quality standards, ensuring safety compliance, and fostering strong relationships with clients and stakeholders. Their competitive advantages lie in their extensive experience, comprehensive service offerings, and commitment to sustainability through initiatives like recycling over 180,000 tons of concrete and asphalt.

Strategic Opportunities and Future Directions

Under the ownership of Nan, Inc., Grace Pacific is poised to leverage enhanced resources and expertise to expand its service offerings, innovate in construction technologies, and contribute to the continued growth and development of Hawaii's infrastructure.