Plateau Excavation, Inc. Market Research Report

Background

Overview

Plateau Excavation, Inc., established in 1983 by Greg Rogers, is a leading site infrastructure improvement contractor based in Kennesaw, Georgia. With over 40 years of experience, the company specializes in comprehensive site development and infrastructure services across the Southeastern United States. Plateau Excavation is recognized for its commitment to safety, quality, and innovation, positioning itself as a significant player in the construction industry.

Mission and Vision

Plateau Excavation's mission is to advance the Southeast through innovative infrastructure and site development solutions. The company envisions being a leader in the industry by embracing new technologies and delivering high-quality, efficient, and sustainable construction services.

Primary Area of Focus

The company focuses on large-scale site infrastructure improvements, including excavation, grading, site development, and utility installation. Plateau Excavation serves various sectors, such as commercial, industrial, e-commerce, data centers, distribution centers, warehousing, and energy.

Industry Significance

Plateau Excavation holds a prominent position in the Southeastern U.S. construction industry, ranking among the top excavation and foundation contractors. Its extensive experience and large-scale project portfolio contribute significantly to regional economic development and infrastructure advancement.

Key Strategic Focus

Core Objectives

Expansion and Growth: Plateau Excavation aims to expand its market presence by undertaking complex and high-profile projects across the Southeastern U.S.

Technological Advancement: The company focuses on integrating advanced technologies to enhance operational efficiency and project precision.

Safety and Quality: Maintaining a safe work environment and delivering high-quality services are central to Plateau Excavation's operations.

Specific Areas of Specialization

Mission Critical Projects: Development of data centers and other critical infrastructure requiring precise and reliable execution.

E-commerce and Distribution Centers: Site development for large-scale distribution facilities, catering to the growing e-commerce sector.

Industrial Development: Construction services for industrial sites, including grading, excavation, and utility installation.

Specialty and Regional Projects: Tailored solutions for unique projects, leveraging local expertise and resources.

Key Technologies Utilized

GPS Guidance Systems: Early adoption of GPS technology in excavation equipment for precise grading.

Advanced Equipment Fleet: Utilization of a large and technologically advanced fleet, including over 1,000 machines, to handle diverse project requirements.

Primary Markets Targeted

Plateau Excavation primarily targets the Southeastern U.S., including states such as Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

Financials and Funding

Funding History

In October 2019, Plateau Excavation was acquired by Sterling Construction Company, Inc. for $400 million, comprising $375 million in cash and $25 million in Sterling common stock and seller notes.

Total Funds Raised

The acquisition by Sterling Construction Company, Inc. provided Plateau Excavation with substantial capital to support its growth and operational needs.

Notable Investors

Sterling Construction Company, Inc.: The parent company following the acquisition.

Intended Utilization of Capital

The capital from the acquisition is intended to support Plateau Excavation's expansion plans, technological advancements, and the execution of large-scale infrastructure projects.

Pipeline Development

Key Pipeline Candidates

Plateau Excavation is involved in several high-profile projects, including:

Truist Park: Development of the Atlanta Braves' stadium in Cobb County, GA.

Hyundai-SK Battery Plant: Construction of a significant industrial facility in Kingston, GA.

Amazon Distribution Centers: Site development for multiple distribution facilities across the Southeastern U.S.

Stages of Development

These projects are in various stages, from pre-construction planning to active construction, showcasing Plateau Excavation's capability to handle complex and large-scale developments.

Target Conditions

The projects target sectors such as sports and entertainment, automotive manufacturing, and e-commerce logistics, addressing the infrastructure needs of these industries.

Anticipated Milestones

Plateau Excavation aims to complete these projects within the stipulated timelines, contributing to regional economic development and meeting the infrastructure demands of its clients.

Technological Platform and Innovation

Proprietary Technologies

Plateau Excavation has developed proprietary methods for precise grading and excavation, integrating GPS technology into its equipment to achieve high accuracy in site development.

Significant Scientific Methods

GPS Guidance Systems: Utilization of GPS technology for fine grading operations, allowing cuts within a tenth of an inch.

Chemical Stabilization: Application of cement or lime stabilization techniques to enhance soil properties for construction.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, Plateau Excavation's integration of advanced technologies indicates a commitment to innovation in construction processes.

Leadership Team

Brad G. Carroll, PE

Position: President & CEO

Professional Background: Licensed Professional Engineer with a Bachelor's and Master's degree in Civil Engineering from Georgia Institute of Technology.

Contributions: Joined Plateau Excavation in 2011; became President in 2021, leading the company's strategic direction and growth.

Nate Hrinsin

Position: Senior Vice President and Chief Financial Officer

Professional Background: Over 25 years of finance operations experience, including roles at Deloitte and Fortune 500 companies.

Contributions: Responsible for accounting functions and financial strategy, supporting the company's operational decisions.

Ryan Duke

Position: Senior Vice President of Construction

Professional Background: Over 22 years of heavy civil experience, managing residential, commercial, industrial, and landfill projects.

Contributions: Oversees construction teams, ensuring project execution aligns with client expectations and company standards.

David Shewchuk

Position: Senior Vice President of Preconstruction

Professional Background: Over 20 years of experience in managing and pricing heavy civil projects.

Contributions: Leads the estimating group, manages client relationships, and monitors the construction market to ensure project success.

John Osterland

Position: Senior Vice President of Mission Critical Projects

Professional Background: Experience in project management for commercial and industrial grading and utility projects.

Contributions: Oversees preconstruction services for mission-critical and mega-projects, supporting project management staff.

Greg Farr

Position: Vice President of Equipment

Professional Background: Experience in equipment management, maintaining a large fleet of earthmoving machines and support vehicles.

Contributions: Ensures equipment readiness and efficiency, supporting the company's operational needs.

Ernie T. Scoggins

Position: Vice President of Florida

Professional Background: Over 40 years of experience in commercial, heavy industrial, and road construction projects.

Contributions: Leads operations in Florida, overseeing complex and high-profile projects in the region.

Danny Camp

Position: Vice President – LK Gregory Construction – Plateau's Aggregates Division

Professional Background: Over 20 years in the drilling, blasting, and crushing industries.

Contributions: Manages the aggregates division, focusing on drilling, blasting, and crushing operations.

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