Kraus-Anderson Construction Makes First Acquisition
Longtime Minneapolis-based construction company Kraus-Anderson (KA) on Monday said it has bought a Phoenix-area construction firm, marking its first-ever acquisition.
Sonoran Crest Construction, which has roots dating back two decades in the Phoenix area, is now part of Kraus-Anderson. The companies didn’t disclose financial details of the transaction.
Kraus-Anderson officials noted that Sonoran Crest received national recognition for its complex health care construction, leading projects like surgery centers, treatment centers, and pharmacies in the region.
According to a statement by KA president Al Gerhardt, Sonoran Crest’s experience in various building sectors made it an attractive acquisition target.
“Sonoran Crest’s highly regarded reputation, expertise, and construction team align beautifully with our strategic planning, and as importantly, with our existing culture and core purpose of building enduring relationships and strong communities,” Gerhardt said. “The expansion will further cultivate a solid footprint by leveraging synergies and diversified capabilities to capitalize on a dynamic regional market.”
Kraus-Anderson also said the deal will help expand its presence in the southwest United States, which is the fifth largest construction market in the country.
KA started off in 1897 and quickly began working on some of the Twin Cities’ biggest projects, including the chemistry building on the University of Minnesota-Twin Cities campus, along with the first hospital in the Fairview Health system. Since then, the company has grown to become a leader in the industry regionally.
“Kraus-Anderson Construction’s first-ever acquisition is a historic milestone that marks the significance of this strategic alignment,” Sonoran Crest founder TJ Roe said. “KA is a leader in the industry, and its wealth of talent and exceptional resources will propel robust growth in our burgeoning market … We are thrilled to become a part of the Kraus-Anderson family.”
The transitioning office will be overseen by Jaki Scott, who has been a part of Sonoran Crest for more than 10 years.
