CMG Construction Inc., a Billings-based construction company has sold to a private entity, company officials announced on Friday.
Oroco Capital, based in Bethesda, Maryland, purchased CMG Construction for an undisclosed price in a deal that was completed on Friday, said Don Meyer, president of Westfourth Communications of Virginia. Oroco Capital management and CMG also announced Justin Peterson, CMG’s estimator and project manager for civil construction, as its new general manager.
“We’re keeping all our employees,” Peterson said in an interview Friday afternoon. CMG employees 150 people. CMG also will keep its headquarters in Billings. Its name will be CMG Construction LLC, Peterson said. Peterson, who joined CMG in 2013, grew up in Roberts and has a bachelor’s degree in construction engineering technology from Montana State University. He has been in the construction industry for 14 years.
Acknowledging the personal problems of former president Kevin McGovern, Peterson said employees have focused on their work. “I do think we need to get out and talk with people and clients around town and let them know we still have our same group here and plan on delivering quality products,” Peterson said. “We’re looking forward to continuing to be a strong company and to grow,” he said.
“I am excited by this new opportunity and the chance to lead a talented team and a great Montana company that continues to work on important projects for our clients throughout the region,” Peterson said in a news release. “The new owners are committed to Billings, our clients and employees,” Peterson continued. “The timing of this transition provides a firm foundation for stability and growth as we look forward to the busy summer construction season,” he added.
Oroco Capital management also announced improvements planned for the company, including “ongoing investments in people, technology and equipment and strengthened regulatory compliance and oversight.”
The company began with commercial site development and municipal construction in Billings. The company has three divisions and serves clients nationwide. The civil division serves Montana, northern Wyoming and North Dakota and specializes in site development, subdivisions, municipal work, concrete and asphalt projects and other civil activities. The structural and drilling division specializes in concrete and pier foundation projects, including transmission lines, winds and solar farms, building and bridge foundations and pump stations. The third division is Johnson Lane Enterprises, which provides custom aggregate products.
Locally, CMG was a subcontractor on the new James F. Battin Federal Courthouse in Billings and is the general contractor for a major construction project underway at Rocky Mountain College. Other Montana and local projects include the Yellowstone Club in Big Sky, Dehler Park in Billings, Tippet Rise Art Center in Fishtail and the Shiloh Conservation Area in Billings.