Prince Contracting, LLC: Company Profile

Background

Overview

Prince Contracting, LLC is a civil construction firm specializing in highway, heavy construction, and site development projects. Established in 1983 in Palmetto, Florida, the company has grown to become a leader in Florida's civil construction sector. With a workforce of approximately 750 employees, Prince Contracting is committed to delivering quality projects through both conventional and innovative methods.

Mission and Vision

The company's mission is to provide comprehensive civil construction services, focusing on transportation and infrastructure development for state and municipal authorities across Florida and the Southeast. Their vision is to be recognized as a leading contractor in the civil construction industry, known for quality, safety, and innovation.

Primary Area of Focus

Prince Contracting's primary focus is on transportation and infrastructure development, including Bid-Build and Design-Build roadway projects. Their expertise encompasses clearing, earthmoving, drainage, utility installation, road base construction, bridge building, and concrete work.

Industry Significance

As a significant player in Florida's civil construction industry, Prince Contracting contributes to the development and maintenance of critical infrastructure, supporting economic growth and community development in the region.

Key Strategic Focus

Core Objectives

Expansion of Services: Broadening the range of civil construction services offered to meet diverse client needs.

Innovation: Implementing innovative construction methods and technologies to enhance project efficiency and quality.

Safety and Compliance: Maintaining high standards of safety and adhering to all regulatory requirements.

Specific Areas of Specialization

Highway and Roadway Construction: Design and construction of highways and roadways.

Site Development: Preparation and development of sites for various projects.

Bridge Construction: Design and building of bridges.

Concrete Work: Specialized concrete services for various construction needs.

Key Technologies Utilized

Advanced Project Management Software: Utilizing tools like HCSS for efficient project management.

Innovative Construction Techniques: Adopting new methods to improve construction processes and outcomes.

Primary Markets Targeted

State and Municipal Authorities: Providing services for government infrastructure projects.

Transportation Sector: Focusing on projects related to transportation infrastructure.

Financials and Funding

Funding History

Prince Contracting has experienced significant growth since its inception, with annual revenues estimated between $100 million and $1 billion. In 2014, the company was acquired by Dragados Construction USA, a subsidiary of ACS Group, enhancing its financial stability and capacity to undertake larger projects.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

As a subsidiary of ACS Group, Prince Contracting benefits from the financial backing and resources of one of the largest civil construction companies globally.

Intended Utilization of Capital

The capital from ACS Group supports the expansion of services, adoption of innovative technologies, and pursuit of larger public-private partnership (PPP) and Design-Build projects.

Pipeline Development

Key Pipeline Candidates

Prince Contracting is involved in several significant projects, including:

I-275 (SR 93) Widening Contract: A $339 million project in Pinellas County, FL, aimed at enhancing safety and mobility in the St. Petersburg area.

Orlando International Airport Terminal C Phase P1X: Ongoing work on concrete paving and base work for a new taxiway and plane rest areas.

Econlockhatchee Trail Project: Installation of 2,500 linear feet of double box culvert in Orlando, FL, to improve drainage and support road widening.

Stages of Development

These projects are in various stages, from initial construction to advanced phases, reflecting the company's capability to manage complex infrastructure developments.

Target Conditions

The projects aim to address transportation infrastructure needs, including road capacity expansion, drainage improvements, and airport facility enhancements.

Anticipated Milestones

Specific timelines for project completion are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

Prince Contracting utilizes advanced project management software, such as HCSS, to streamline operations and enhance project delivery.

Significant Scientific Methods

The company employs innovative construction techniques to improve efficiency and quality, though specific methodologies are not detailed in available sources.

Leadership Team

Executive Profiles

Jackie B. Calandros: President of Prince Contracting, overseeing company operations and strategic direction.

Robert V. Burr: Senior Vice President, responsible for leading major projects and business development initiatives.

Luis Miguel Faustino: Chief Financial Officer, managing financial strategies and operations.

Competitor Profile

Market Insights and Dynamics

The civil construction industry in Florida and the Southeast is competitive, with numerous firms vying for state and municipal contracts. The market is characterized by a focus on infrastructure development, including roadways, bridges, and site development projects.

Competitor Analysis

Key competitors include:

Phillips and Jordan: A leading competitor with annual revenues of $570 million.

Flatiron Construction: A significant player in the industry, with revenues of $480 million.

Strategic Collaborations and Partnerships

The acquisition by Dragados Construction USA, a subsidiary of ACS Group, has enabled Prince Contracting to pursue larger PPP and Design-Build projects, expanding its capabilities and market reach.

Operational Insights

Prince Contracting's ability to self-perform critical construction tasks, such as clearing, earthmoving, drainage, and concrete work, provides a competitive advantage in delivering comprehensive and efficient project execution.

Strategic Opportunities and Future Directions

The partnership with ACS Group positions Prince Contracting to capitalize on larger infrastructure projects, including PPP and Design-Build ventures, and to expand further throughout the Southeast.