Specialty contractors working on the East Coast had a solid set of revenue results last year. New York and New Jersey companies that submitted 2023 regional revenue data to this year’s New York ENR Top Specialty Contractor Rankings performed well, but those that submitted on the New England ENR specialty contractor list were less fortunate.
The top 10 companies in the New York region collectively increased revenue by 30% to $2.6 billion, up from $2 billion in last year’s survey. Regional revenue for the top 10 New England companies, which include those operating in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, fell 33.3% to $1.2 billion from $1.9 billion in last year
Graph by ENR
In the New York regional list, three companies in the top five for 2023 remain near the top spot, while two companies that did not appear in last year’s ranking fared well in their debuts on the list.
EJ Electric Installation Co. was again first in the ranking. The Long Island City-based company selected as ENR New York’s 2021 Specialty Contractor of the Year reported $852 million in regional revenue, a 29.3 percent increase over last year’s $659 million total. last year
“We believe this market will remain hot through 2026 and continue to be active beyond that.”
— David Anzalone, president, Advanced Exteriors & Glazing of New England
Lynchburg, Va.-based Banker Steel, which operates Terminal 1 at JFK International Airport in Queens, ranked second in its debut with revenue of $479.66 million. The other new entrant is Long Island City-based CAC Industries Inc., which reported $235.68 million to finish fourth. Performing 100% utility work, the company is working on the South Battery Park City Pier A Plaza/Battery Sitework Resilience Project and Near Surface Isolation, a flood barrier system in lower Manhattan.
Electra USA Inc. came third for the third consecutive year. The company’s $261.49 million in revenue was 12.8% higher than the $231.8 million it reported in last year’s ranking.
Urban Foundation/Engineering LLC, this year’s ENR New York Specialty Company of the Year (see story p. NYNE18), ranked No. 11 with $91.7 million in revenue, a 21, 8% more than the period last year.
BOND Civil & Utility, ranked #12 in New York and #3 in New England, was a joint venture partner on the Boston International Airport Terminal Road Revitalization Project Logan BC.
Photo courtesy of BOND Brothers Inc.
Five is alive
Despite just a 0.61% revenue increase, Wayne J. Griffin Electric Inc. topped the New England list for the fifth year in a row. The Holliston, Mass.-based company’s $347.5 million in revenue was up from the $345.4 million it reported last year.
After a one-year hiatus, EM Duggan returns to the list one slot higher than last ranked. The Canton, Mass.-based company, named the 2022 ENR New England Specialty Company of the Year, was ranked third for three consecutive years prior to last year. The mechanical company reported revenue of $307.76 million in this year’s survey, up from $222.30 million in regional revenue recorded two years ago.
With revenue of $224.93 million, Bond Civil & Utility Construction Inc. moved up one spot to #3 this year. Last year it was No. 4 with $205.75 million. The Medford, Mass.-based company also ranks No. 12 in the New York survey with $87.33 million, up 9.4 percent from last year when it ranked No. 9 with 79, 8 million dollars in revenue.
Graph by ENR
Bond says the infrastructure investment work has provided significant opportunities in the New York region in several key sectors, particularly for wastewater treatment plants. The firm says the energy sector, particularly in New England, is also experiencing significant growth opportunities driven by expanding offshore wind and power transmission development markets.
But these “could undergo significant changes depending on the results of the upcoming election in November,” says Kane Cuddy, president of Bond Civil & Utility. “Those who are prepared to adapt and navigate market conditions will be crucial to driving growth, both for the industry and their organizations. Flexibility and a proactive approach will be key to seizing opportunities as they the market continues to evolve.”
New York’s No. 2-listed Banker Steel fabricated structural steel for 270 Park Avenue, JP Morgan Chase’s 60-story global headquarters in midtown Manhattan.
Photo by Michael Young, courtesy of DBM Global
Public education construction has been “arguably the most active sector in our market,” says David Anzalone, president of Advanced Exteriors & Glazing of New England LLC. “People are investing in their communities with this infrastructure and, more importantly, in our future generations.”
The Salem, NH-based company, which does glass and curtain wall work, ranked No. 16 on the list of New England specialty contractors, with revenue of $24 million, up 56% from No. 15, 39 million last year. “Barring unforeseen disruptions, we believe this market will remain hot through 2026 and remain active beyond that,” says Anzalone.
