Commodore Builders has acquired A.J. Martini, Inc. The acquisition will enable Commodore to grow its business in the institutional, commercial, health care, and life sciences sectors. A.J. Martini's senior team, responsible for building the well-recognized New England firm, will bring the firm's full strength and depth of experience to Commodore.
Joe Albanese, Commodore Bldrs. CEO and founder, says A.J. Martini is a natural fit, and the decision to acquire the firm accelerates Commodore's plan for growth. "Based upon our 24 year relationship, we know we have a true partner with A.J. Martini, and their deep capabilities and expertise will enable us to take a bold step towards future growth."
With revenues of nearly $100 million in 2012, Commodore is focused on diversification across market sectors, growing its top and bottom lines, and increasing average project size. Albanese said, "That won't happen fast enough organically. And as the economy emerges from the recession, this acquisition will enable us to pursue and win game-changing opportunities faster."
Commenting that the need to grow is also in response to the current demands placed on construction management firms in New England--one of the country's most competitive regions, Albanese said, "The marketplace values relevant experience, company size and bench strength. With this acquisition, we gain all three--we'll be a larger construction firm with greater depth in the areas we target for growth."
Paul Martini, CEO of A.J. Martini, will become a senior vice-president at Commodore and describes the acquisition as an opportunity for the newly combined entity to go further, faster. "Combining our technical strength and relevant experience with Commodore's robust platform, will provide our clients with unparalleled knowledge and capability," said Martini.
Peter Martini and Nancy Martini will also join the senior leadership team at Commodore. Peter Martini has executed major projects on the campuses of Union College, Dean College and Belmont Hill Schooland also managed the restoration of Harvard's Memorial Hall. He will join Commodore as a vice president and will head a business unit. Peter Martini said, "Our committed executives and highly skilled operations staff are very excited about this move."
The acquisition, which has been in the planning stages for seven months, will include the full integration of both firms at Commodore's Newton headquarters.