New York — WDF Services Corp. and Five Star Electric Corp. recently merged to create GreenStar Services Corp., one of the nation's leading mechanical, electrical and specialty contractors with a backlog exceeding $1.1 billion. By establishing a single source MEP (Mechanical, Electrical and Plumbing) service provider, GreenStar, through its three operating subsidiaries, is positioned to capitalize on the growth of complex infrastructure and environmental projects in the markets in which it operates.
“This merger will strengthen our ability to capitalize on the significant pipeline of large projects currently out for bid,” said Gary Segal, president and CEO of Five Star. “We will now be able to offer our clients a complete MEP package at a competitive price, if they so choose, with the ability to provide and manage the massive coordination effort required for the various trades in a manner that is most efficient for projects and in the best interest of our clients.”
Five Star, a subsidiary of GreenStar, is the largest unionized electrical contractor in the New York metropolitan area and has been involved in the building and renovation of numerous large scale and complex projects across a variety of end markets including: environmental, transit, education, municipal, hospitality, stadium, healthcare, commercial and high-rise residential. Five Star performs work on many of New York's most notable projects such as Citi Field for the New York Mets, The Plaza Hotel renovation, homeland security project for the Metropolitan Transportation Authority, Phase One on the new Freedom Tower and the Path Station rebuilding at the World Trade Center site.
WDF, a subsidiary of GreenStar, is one of New York's leading unionized construction services providers specializing in large scale complex mechanical and specialty construction projects primarily in the municipal, education, environmental, and commercial markets. Selected WDF projects include the Time Warner Center, Mayflower Condominiums at 15 Central Park West, the new Goldman Sachs World Headquarters in Battery Park City, Bellevue Hospital, work at more than 85 public schools in New York City and eight different Department of Environmental Protection waste and freshwater treatment sites. New York Construction magazine recently ranked WDF as New York's second largest specialty contractor. Joseph M. LoCurto, former president of Slattery Skanska, recently joined WDF as president and chief operating officer.
Nagelbush Mechanical, a subsidiary of GreenStar, is the leading unionized mechanical and plumbing contractor in south Florida. Current projects include the 69-story Marquis, the 900 unit Everglades residential complex as well as the Ft. Lauderdale and Miami Central Rental Car Facilities. Richard A. Smith serves as the president and chief operating officer of Nagelbush.
It has been reported that construction spending by government, businesses and institutions in GreenStar's core geographical markets is projected to reach $83 billion in the next several years. As part of the merger, Eos Partners, a New York-based private investment firm with more than $3 billion under management, has further invested into the company to facilitate the merger.