Hoar Construction Company Profile

Background

Overview

Hoar Construction, established in 1940 by Friend Reed (F.R.) Hoar, is a privately held construction firm headquartered in Birmingham, Alabama. The company specializes in a diverse range of sectors, including commercial, industrial, healthcare, government, cultural/entertainment, education, residential, hospitality, and retail/mixed-use construction. With over 85 years of experience, Hoar Construction has grown to become one of the top 200 contractors in the United States.

Mission and Vision

Hoar Construction is committed to delivering quality projects through thoughtful planning, practical processes, and a dedication to safety. The company aims to guide clients through the often complex development experience, providing certainty, value, and construction outcomes that meet their goals.

Industry Significance

Over the decades, Hoar Construction has built a reputation for excellence, securing its position among the top contractors in the U.S. In 2018, the company was recognized as the "Company of the Year" by Construction Dive, highlighting its significant impact and leadership in the construction industry.

Key Strategic Focus

Core Objectives

Hoar Construction focuses on delivering high-quality construction services across various sectors, emphasizing client satisfaction, safety, and operational efficiency. The company aims to be a trusted partner by providing comprehensive construction solutions that meet the unique needs of each client.

Areas of Specialization

Healthcare: Developing state-of-the-art medical facilities.

Higher Education: Constructing campuses and academic buildings.

Multifamily Housing: Building residential complexes.

Mixed-Use/Retail: Creating integrated commercial and residential spaces.

Office and Commercial: Developing office buildings and commercial spaces.

Government and Civic: Constructing government buildings and civic centers.

Entertainment and Hospitality: Building hotels, resorts, and entertainment venues.

Industrial: Developing manufacturing and industrial facilities.

Key Technologies Utilized

Hoar Construction employs advanced technologies to enhance project delivery, including Building Information Modeling (BIM) for efficient design and construction processes. In 2024, the company partnered with Revizto, an integrated collaboration platform, to improve real-time communication and collaboration across project teams.

Primary Markets Targeted

The company operates across multiple states, including Alabama, Texas, Florida, Tennessee, and Washington D.C., serving both public and private sectors. Its diverse portfolio spans various market segments, reflecting a broad geographic and sectoral reach.

Financials and Funding

Revenue

In 2018, Hoar Construction reported a revenue of approximately $866 million, marking a significant increase from previous years and positioning the company among the top 100 contractors in the U.S.

Funding History

As a privately held company, Hoar Construction has not publicly disclosed detailed funding histories or recent funding rounds. The company's growth has been primarily driven by reinvested earnings and strategic expansion into new markets and sectors.

Notable Investors

Specific information regarding external investors is not publicly available, as Hoar Construction remains privately owned.

Utilization of Capital

The capital generated has been utilized to expand operations, enhance technological capabilities, and undertake large-scale projects across various sectors. The company's strategic investments focus on maintaining high standards of quality and safety in all its endeavors.

Pipeline Development

Key Projects

Hoar Construction has been involved in several notable projects, including:

Avalon 8000: A 222,000-square-foot Class A office building in Alpharetta, Georgia.

Broadwest: A mixed-use development in Nashville, Tennessee.

Capitol View: A mixed-use development in Nashville, Tennessee.

Children's of Alabama: Ongoing projects since 2009 in Birmingham, Alabama.

Colony Square: A redevelopment project in Atlanta, Georgia.

Dania Pointe: A mixed-use development in Dania Beach, Florida.

Elysium 14: A residential project in Washington, D.C.

Encompass Health: Multiple projects since 1996.

GD Copper USA: A manufacturing facility in Pine Hill, Alabama.

Historic Federal Reserve: A renovation project in Birmingham, Alabama.

Hotel Indigo Gainesville-Celebration Pointe: A hotel project in Gainesville, Florida.

Inspire on 22nd: A residential project in Austin, Texas.

Latitude Med Center: A medical center in Houston, Texas.

Poff Federal Building: A renovation project in Roanoke, Virginia.

Studer Family Children's Hospital: A hospital project in Pensacola, Florida.

Talladega Superspeedway: A renovation project in Talladega, Alabama.

Texas A&M University Building for Academic and Student Services: A building project in Texarkana, Texas.

Toyota Field: A sports facility in Madison, Alabama.

University of Tennessee at Chattanooga West Campus Housing: A housing project in Chattanooga, Tennessee.

Vireo: A residential project in Atlanta, Georgia.

X Houston: A residential project in Houston, Texas.

Anticipated Milestones

Specific timelines for these projects vary, with many expected to reach completion in the coming years. The company continues to expand its portfolio, focusing on delivering high-quality projects that meet client expectations.

Technological Platform and Innovation

Proprietary Technologies

Hoar Construction has developed a unique quality control program aimed at reducing inefficiencies and warranty callbacks. This program has been adopted by contractors nationwide, reflecting the company's commitment to industry improvement.

Significant Scientific Methods

The company employs advanced construction methodologies, including lean construction principles, to minimize waste and enhance project efficiency. Additionally, Hoar Construction utilizes BIM and collaborates with platforms like Revizto to improve project coordination and communication.

Leadership Team

Executive Profiles

Rob Burton: Chairperson and CEO. Rob has been with Hoar Construction for over 30 years, leading the company through significant growth and expansion.

Jeremy DiPiazza: CFO. Jeremy oversees the company's financial operations, ensuring fiscal responsibility and strategic financial planning.

Doug Eckert: EVP. Doug plays a key role in overseeing operations and ensuring project delivery aligns with company standards.

Randall Curtis: COO. Randall is responsible for the company's day-to-day operations, focusing on operational efficiency and project execution.

Turner Burton: President. Turner leads the company's strategic initiatives and business development efforts.

Leadership Changes

In August 2018, Turner Burton was promoted to president, Randall Curtis was announced as chief operating officer, and Will Watson was named vice president of the Alabama division.

Competitor Profile

Market Insights and Dynamics

The construction industry is characterized by a diverse range of companies offering various services across multiple sectors. Key competitors to Hoar Construction include: