Peabody Construction to Merge With Beaver Builders

BRAINTREE, MA- Two longtime local general contractors have agreed to a marriage of sorts, as Peabody Construction Co., based here, plans to join forces with Beaver Builders of Newton. According to a source from Peabody, a letter of intent has been signed by both companies and the two are now in due diligence, which typically takes between 30 to 60 days.

“Nothing is official yet,” the source tells GlobeSt.com. As to the reason for the merger, the source notes that, “Beaver has a great name and great name recognition. The merger made sense.” The source would not elaborate further on the rationale or details of the merger.