Traylor Bros. has signed an agreement to “make a significant financial investment in Ballard Marine Construction,” with the option to purchase majority ownership in the future. Specific terms of the deal were not disclosed.
According to a recent press release, Traylor will focus on developing the strategic partnership between the companies, which will closely collaborate, partner in joint ventures and augment one another’s service offerings. Specifically, Traylor says, Ballard now provides its clients with a more robust service line that includes inspection & survey, constructability, engineering and design, self-performed underwater construction, and heavy civil marine and underground solutions.
“We are excited to partner with Ballard in growing their market share and providing exceptional turn-key marine and underground services to their clients worldwide,” says Mike Traylor, co-president of Traylor Bros. “Ballard and Traylor share a culture that prioritizes people, ethics, and innovation. This likeminded thinking will simplify the integration process, allowing us to concentrate our efforts toward designing and building quality projects. I am certain we are better as a team than as separate companies.”
Traylor is a heavy civil contractor working on bridges, tunnels and marine structures. Ballard has grown from an underwater diving specialty company to a turnkey general contractor serving the hydropower, tunneling, industrial, nuclear, water utilities and marine industries.
A joint strategic integration team will be created to begin the process of evaluating the combined business opportunities, operating structures and internal processes. Both companies will continue to operate under their current leadership, a press release says.
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