The Boldt Company

Background

Founded in 1889, The Boldt Company is a fourth-generation family and employee-owned construction services firm headquartered in Appleton, Wisconsin. With 18 offices nationwide, Boldt specializes in delivering innovative construction solutions across various sectors, including healthcare, industrial, commercial, and energy. The company's mission is to transform the built environment through innovation, Lean methodology, and continuous process improvement, aiming to create extraordinary opportunities for employees, partners, customers, and communities.

Key Strategic Focus

Boldt's strategic focus centers on providing comprehensive construction management services with an emphasis on Integrated Lean Project Delivery® (ILPD). This approach integrates Lean principles to enhance efficiency and value throughout the construction process. The company serves diverse markets such as healthcare, power and energy, industrial manufacturing, education, and commercial sectors. By leveraging advanced construction methodologies and technologies, Boldt aims to deliver high-quality projects that meet the evolving needs of its clients.

Financials and Funding

As a privately held, employee- and family-owned firm, The Boldt Company does not publicly disclose detailed financial information. However, the company has demonstrated significant growth, with annual revenues exceeding $1 billion. This financial strength enables Boldt to invest in innovative construction technologies and methodologies, ensuring the delivery of high-quality projects across various sectors.

Pipeline Development

Boldt maintains a robust pipeline of projects across its key markets. Notable recent projects include the construction of the Skywalk Building for Children's Wisconsin and the Piedmont Intermediate Center in Piedmont, Oklahoma. These projects exemplify Boldt's commitment to delivering complex and technically demanding construction solutions that meet the specific needs of its clients.

Technological Platform and Innovation

Boldt distinguishes itself through the adoption of advanced construction methodologies and technologies. The company is a recognized leader in Integrated Lean Project Delivery® (ILPD), which combines Lean principles with collaborative project management to enhance efficiency and value. Additionally, Boldt has entered into an enterprise-wide agreement with Touchplan, a collaborative construction planning software platform. This partnership enables real-time project planning and analytics, further improving project predictability and profitability.

Leadership Team

The Boldt Company's leadership team comprises experienced professionals dedicated to driving the company's mission and strategic objectives:

• David Thomack, President

• With over 30 years in the construction industry, Thomack previously served as Boldt's Chief Operating Officer. He has led transformational projects nationwide and played a key role in developing the company's vision and strategy. Thomack holds a bachelor's degree in civil and environmental engineering and a master's degree in civil engineering and construction management from the University of Wisconsin-Madison.

• Jeff Shipley, Chief Operating Officer

• Shipley has been with Boldt for 18 years, leading offices in San Francisco, Sacramento, Oklahoma City, and Detroit. He brings a hands-on approach to leadership, emphasizing disciplined project controls, Lean construction expertise, and a commitment to safety. Shipley earned a bachelor's degree in construction science from the University of Oklahoma.

• Terry Owens, Senior Director of Self-Perform Operations

• With three decades of construction experience, Owens oversees Boldt's self-perform operations across various markets. He is dedicated to maintaining safe jobsites and delivering high-quality results through self-perform work. Owens is a graduate of the Fox Valley Technical College Associated General Contractors Supervisory Training and Carpenters Apprenticeship programs.

Leadership Changes

In June 2024, The Boldt Company announced significant leadership changes:

• David Thomack was appointed President, succeeding Dave Kievet, who became President and CEO of The Boldt Group.

• Jeff Shipley was named Chief Operating Officer, taking over Thomack's previous role.

• Terry Owens was appointed Senior Director of Self-Perform Operations, overseeing the company's self-perform work across various markets.

These leadership changes reflect Boldt's commitment to strategic growth and operational excellence.

Competitor Profile

Market Insights and Dynamics

The construction industry is characterized by a competitive landscape with numerous firms offering a range of services. Key factors influencing the market include technological advancements, regulatory changes, and evolving client demands for sustainable and efficient building solutions.

Competitor Analysis

The Boldt Company faces competition from several notable firms in the construction industry:

• Haskell: A provider of architecture, engineering, and construction solutions, Haskell offers integrated project delivery services across various sectors.

• STV Group: Specializing in structural engineering solutions, STV Group serves clients in transportation, infrastructure, and building sectors.

• Mortenson: Offering energy and engineering solutions, Mortenson operates in sectors such as renewable energy, healthcare, and sports facilities.

• ISG: Providing construction solutions, ISG focuses on delivering projects in commercial, education, and government sectors.

• Kajima: A global construction and civil engineering company, Kajima offers services in building construction, real estate development, and architectural design.

These competitors vary in size, service offerings, and market focus, contributing to a dynamic competitive environment.

Strategic Collaborations and Partnerships

Boldt has established strategic partnerships to enhance its service offerings and operational efficiency:

• Touchplan: In February 2022, Boldt entered into an enterprise-wide agreement with Touchplan, a collaborative construction planning software platform. This partnership enables real-time project planning and analytics, further improving project predictability and profitability.