Omnibuild Construction Acquires Cava Construction & Development
By Liam La Guerre November 11, 2015 6:30 pm
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Omnibuild Construction, which is building the planned 35-story, nearly 600-key Doubletree Hotel at 350 West 40th Street, bought Cava Construction & Development, the company announced today.
Following the deal, Omnibuild expects to record more than $200 million in revenue for 2015 and employ more than 100 workers. Omnibuild did not release the purchase price for Cava.
Omnibuild is currently working on 16 projects in the city, including the 29-story, 249-key Hilton Garden Inn at 6 Water Street and the 30-story, 179-room Courtyard Marriott at 133 Greenwich Street.
“This acquisition merges two great brands into a single company and expands our ability to compete for larger and more complex construction projects,” John Mingione, founder of Omnibuild, said in a prepared statement. “The two companies have worked together on many projects, and we believe operating together under one brand, Omnibuild, will give us a strategic advantage in accessing top construction talent and enhance our ability to compete in the New York marketplace.”
The company will be headed by Chief Executive Officer Peter Serpico, who was previously the CEO of Cava, and Mr. Mingione, who will be the chief operating officer. The two companies have worked in a partnership since 2010, according to a press release in May.
