James A. Cummings Inc., which builds schools, public and commercial facilities, has annual revenue of approximately $100 million and more than 300 employees in the Southeast region.
Under the agreement, James A. Cummings Inc. will operate as a wholly owned subsidiary of Perini Corp. and will be managed by its senior management team. James A. Cummings will be CEO of James A. Cummings Inc. and will become a director of Perini Corp., which has annual revenue in excess of $1 billion.
William R. Derrer will serve as president, and Michael Lanciault will be senior VP and chief estimator of James A. Cummings Inc. Ronald N. Tutor, Perini's chairman and CEO, says in a statement that the acquisition would expand the company's market presence in the Southeast and "support Perini's strategy to achieve profitable growth."
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