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BUSINESS NEWS BLACK CONSTRUCTION-TUTOR PERINI JV AWARDED $181.8 MILLION GUAM DEFENSE SYSTEM PROJECT Tutor Perini Corporation, a leading civil, building and specialty construction company, announced the Black Construction-Tutor Perini Joint Venture has been awarded a task order valued at approximately $181.8 million by the Naval Facilities Engineering Systems Command Pacific for the Guam Defense System – Enhanced Integrated Air and Missile Defense Phase 1 project in Guam. The task order includes two options for additional scope elements that, if exercised, would increase the task order value by $12.1 million.
This project, funded under the U.S. Defense Department’s Pacific Deterrence Initiative, includes the construction of an enhanced integrated air and missile defense site complete with its own power generation facility. The power generation facility will include standby power generation, a switchgear building and associated equipment, fuel storage facilities, a fire pump building and water storage, an entry control facility, functional areas, and all supporting infrastructure. Tutor Perini Corporation offers diversified general contracting and design-build services to private customers and public agencies throughout the world.
WILL SWEARINGEN, from page 1
that were ESOPs were 61 years old, doing roughly $132M; and private equity-backed organizations were doing nearly $210M and were just 29 years old. In basic terms, this tells us private equity backed firms are growing more than five times faster than their privately held peers. Let’s be clear. This comes with a catch and one that people need to understand prior to making the commitment. The catch is that you have to want to grow. Like really grow. The historical model of focusing on what you can control and growing responsibly, is taking a back seat to scale and value creation. In this new era, firm leadership are focusing on value creation while attempting to ensure the impact their employees can deliver meets the market demand. Professional development and education programs for key people become paramount as leaders look to creating management succession plans to satisfy the need. While value creation remains the top priority for leaders looking to exit, the impact the transaction will have on their people is a close second. Zweig Group is a full service consulting agency and recently, we’ve been facilitating a lot of educational sessions with leadership teams to talk honestly about their future, about their firms, and about their people. The industry is at a dynamic inflection point and many owners in the industry are facing tough decisions as outside capital continues to gorge itself on these islands of unique cultures and talent. This industry serves the built environment. It’s constantly changing, growing, and contracting. It’s a space in constant need of repair and improvement. Many leaders and owners want to understand the expectations for growth, for value creation, and what their role will be post transaction. They want to know how they can get into their highest and best use and grow their value accordingly. We are seeing firms entertain transition discussions earlier on in their lifecycle. The prospect of attaching to a larger organization with more resources is intriguing to some who are tired of being in the driver seat all the time. There’s movement in the industry at the ownership level. And a philosophical shift seems to be occurring as promises of a technological revolution circle the design and construction industry. The space is ripe for transformation. It’s ripe for value creation. And it’s primed to deliver impact-focused growth to fuel the next generation of structures and systems that shape the human experience. The industry is at a major inflection point – and understanding the forces behind today’s accelerating M&A activity is key to charting your next move. The 2025 AEC M&A Outlook Report offers a clear, data-driven look at trends in buyers, sellers, valuation, culture, and capital. See what’s driving AEC M&A now and what’s coming next. Download the report for free. Will Swearingen is senior director of Transition consulting at Zweig Group. Contact him at wswearingen@zweiggroup.com.
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THE ZWEIG LETTER DECEMBER 15, 2025, ISSUE 1613
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