ORLANDO, FLA. — In a strategic industry move, construction veteran Jeffrey S. Condello, founder, president and CEO of Orlando-based Randall Mechanical Inc., recently announced that he acquired South Seminole Sheet Metal Inc., a ductwork fabricator and installer, located in central Florida, which has a stabilized market share of more than 50%.
In making this announcement, Condello said the industry-wide impacts of his acquisition are two-fold: Randall Mechanical is now central Florida’s largest mechanical contractor that both fabricates and installs its own sheet metal used in air conditioning, heating and ventilation ductwork, and he will grow South Seminole Sheet Metal Inc. to better serve other mechanical contractors that rely on the company for competitive edge versus those who do not fabricate but only install. Financial details of the transaction were not disclosed.
“This timely acquisition and infusion of additional capital will allow South Seminole Sheet Metal Inc. to increase its all-important bonding capacity for the very largest projects in Florida and Georgia, and further increase its already-dominant market share,” said Condello.
Located in a 90,000-sq.ft. facility in Apopka, Fla., South Seminole Sheet Metal Inc. was established in Longwood, Fla., in 1987 by Ronald D. Fields who will remain with the company for at least two years before embarking on a well-deserved retirement.
“We are well known for our high quality performance in fabrication and installation, and haven’t compromised our product or service despite the current market environment,” said Fields. “The innovative company Central Florida’s only BIM-qualified fabricator and installer, handles an astounding three million pounds of sheet metal per year. As a result the company’s unmatched expertise in state-of-the-art Building Information Modeling (BIM) continues to deliver exemplary project coordination and execution, as well as an impressive record of customer loyalty among most of the mechanical contractors in our market.”
Led by Condello, Randall Mechanical Inc. ranks as the 7th largest Florida-based mechanical contractor according to Southeast Construction magazine’s “Top Specialty Contractors” survey published September 2010.
The company, with reported 2009 revenues of $26.4 million, is also the 11th largest mechanical contractor in the Southeast according to the survey.
Also, in September, Randall Mechanical announced the expansion of its High Purity Piping Business Group with industry personnel to keep pace with its project workload in the biotechnology, biopharmaceutical, energy, food and beverage, and higher education fields.