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Dive brief:
- The construction M&A push continues. Chicago contractor Bulley & Andrews has acquired Interior Construction Group, a fellow Windy City builder, according to an April 13 announcement shared with Construction Dive. Financial terms of the deal were not disclosed.
- Interior Construction Group, which was founded in 1988, will now operate as Bulley & Andrews Interior Construction Group from ICG’s downtown Chicago office, according to the announcement. Tim Puntillo, B&A’s chief operating officer, told Construction Dive that there would be no layoffs or organizational adjustments as a result of the acquisition.
- B&A, which has been in business for 135 years, views the acquisition as a way to expand and grow in the commercial real estate market and an investment in the contractor’s long-term growth strategy, Puntillo said.
Diving knowledge:
B&A is optimistic about its market, Puntillo said.
“Both B&A and ICG feel strongly about the direction of the interior market, as more and more companies return to office work and buildings continue to upgrade their spaces to meet the demands of today’s tenants,” he said. “By adding ICG’s in-house expertise to our core capabilities, we are opening the door to further growth and a stronger presence in the commercial real estate landscape.”
ICG leadership was equally upbeat.
“We are excited to become part of the Bulley & Andrews family. Bringing our teams together allows us to strengthen our capabilities to deliver even greater value to our clients,” ICG President Steve Zuwala said in the announcement.
Bulley & Andrews was ranks number 196 on Engineering News-Record’s 2025 list of top US contractors by revenue, generating $655 million in revenue by 2024. Its sectors include higher education, retail, institutional and healthcare, among others, according to its website.
ICG is the fifth company to acquire B&A, according to the announcement. B&A’s most recent acquisition before ICG was Nashville, Tenn.-based Rock City Construction in December 2020, Puntillo said. The company now operates as Bulley & Andrews Rock City.
During the past year, Mergers and acquisitions in construction have been candid as builders and construction technology companies combine and add companies to their portfolios. Sean Auton, co-managing partner of the Chicago office of the Kilpatrick law firm, predicted that The M&A drive would continue in 2026and, so far, he has. More recently, the Nemetschek Group, provider of Bluebeam and Nevaris software, acquired construction software company Heavy Construction Systems Specialists.
