Arc Building Partners, Claremont Companies Enter Strategic Partnership to Deliver Complex, Fast-Track Construction Projects
Buffalo, N.Y.-based construction management firm acquires Claremont Construction Group's project backlog
Mon, Jun 17th 2019 08:00 am
BUFFALO, N.Y. — Arc Building Partners and Claremont Companies have entered into a strategic partnership agreement that will bolster Claremont’s construction capabilities and enable Arc Building Partners to expand into the New York/New Jersey metropolitan market.
Arc Building Partners will merge with Claremont Construction Group, the construction affiliate of Claremont Companies, and acquire its backlog of projects. Claremont’s current projects will continue under the same project managers, and over time, the 25 employees of its construction group will gradually be absorbed into the Arc team. Going forward, Claremont Companies will focus entirely on its real estate development business, and Arc Building Partners will become its go-to construction partner for upcoming projects.
“With our shared values and individual strengths, this is the right match at the right moment in our firm’s early history,” said Arc Building Partners President Frank Ciminelli II. “This strategic partnership will provide us with direct access to several attractive construction markets along the East Coast, opening the door to new growth opportunities. It is the ideal next step to expand our solutions-driven, fast-track model of working closely with our clients to bring complex projects from napkin-sketch visions all the way through to final ribbon cuttings. We look forward to getting started and working alongside the Claremont Companies team for years to come.”
“Our story has been one of ongoing evolution. In 1954, we started as a commercial painting business before evolving into one of the largest carpentry and drywall operations in the U.S. Then, nearly 30 years ago, we evolved again into a full-service development and general construction company. We’re proud of the history we’ve built and excited for this next evolution ahead of us,” said Stephen Sciaretta, Principal at Claremont Companies. “This strategic relationship broadens our construction capabilities and deepens our bench, and importantly, it has the potential to accelerate the future success of both Claremont Companies and Arc Building Partners.”
Since launching in September 2017, Arc Building Partners, a Buffalo, New York-based construction management firm, has assembled a team with a track record of delivering exceptional project outcomes for clients, while managing the pressures of compressed timelines and high-profile assignments.
Headquartered in Far Hills, New Jersey, Claremont Companies is a full-service development and general construction company. It has completed thousands of residential units and millions of square feet of commercial and retail projects as both a principal developer and third-party general contractor.
Claremont has experienced tremendous growth over the past three years, which has resulted in a robust project backlog and substantial development pipeline. It will continue on as a full-service development firm. As Claremont pushes forward with major projects at an accelerated pace, the strategic relationship with Arc Building Partners will allow it to deliver larger-scale projects with an even further streamlined construction process. Additionally, engaging Arc Building Partners to acquire its construction group’s project backlog was an essential step in Claremont’s ongoing succession planning.
Arc Building Partners specializes in several delivery types and executes projects for multiple vertical industries. Its team has deep expertise in construction for arts and cultural organizations; hospitality, gaming and entertainment; institutional clients especially health care and education; and mixed-use development.
Among its recent projects, Arc Building Partners completed renovations to the premium seating areas at the home of the Buffalo Bills, New Era Field; The Alder at Resorts World Catskills in New York’s Catskill Mountain region; the Nineteen North luxury apartment building in Buffalo, New York; and the historic restoration of the Barton House at the Frank Lloyd Wright-designed Darwin Martin House Complex.
Claremont Companies’ recent notable projects include the Rivet Apartments project, which is located within the University Place mixed-use redevelopment project in Jersey City; the 17-story Marin Residences adjacent to the Hamilton Park section of Jersey City; and the 333 Central Avenue luxury apartment building in Westfield, New Jersey.
The deal will expand Arc Building Partners’ national reach and position it among the New York-New Jersey region’s top construction management firms, based upon projections related to merger implications and both firms’ existing project pipelines.
About Arc Building Partners
Headquartered in Buffalo, New York, Arc Building Partners is a full-service project delivery firm focused on complex, fast-track deliveries serving private and commercial clients in numerous vertical sectors, locally, regionally and nationally. As part of its suite of professional services, Arc offers delivery types such as construction management at-risk and design-build. To learn more, visit http://www.arcbuildingpartners.com/.
About Claremont Companies
Now in its third generation, Claremont Companies is a full-service development and general construction company based in northern New Jersey. The firm was established in 1954 as a commercial painting business, and it grew to become one of the largest carpentry and drywall operation in the United States. Nearly 30 years ago, its principals made the strategic decision to transition into its current structure as a developer and general contractor. For more information, visit www.clarecon.com.