Racine-based general contractor Katt Construction Corp.
has been sold to Racine-based industrial equipment and construction company Industrial Construction & Associates Inc.
The transaction closed July 1 for an undisclosed price.
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Katt Construction’s 18 employees will all join IC&A, which has 40 employees, at its 60,000-square-foot facility at 1718 Layard Ave. in Racine, said former Katt Construction owner Herb Katt. The company, which he founded in 1989, owned its 6,000-square-foot facility at 1434 West St. in Racine, which will be sold.
IC&A is a portfolio company of Fort Myers, Florida-based Industrial Service Solutions and also has offices in Chicago and Houston.
Herb Katt has been named president of IC&A. Joe Van Bree, owner and former president of IC&A, will now serve as chief executive officer.
“I’ve been in this business (on my own) for 30 years,” Katt said of his decision to sell. “My kids don’t really have an interest in taking over the business.”
The companies are a good cultural fit because they have similar management styles, he said. They also have complementary services. While Katt offers general contracting, project management, design-build, construction management and carpentry services, IC&A specializes in heavy load transportation, rigging, crane installation, steel fabrication and erecting and concrete.
The acquisition will expand Katt’s geographic focus beyond economically struggling Racine, as well.
“I’m basically a local contractor, whereas IC&A is more regional, has developed a regional customer base,” Katt said. “The business has been kind of slow (recently). This offers more opportunities with IC&A.”