A 120-year-old Coraopolis company that has been involved in some of the country’s most iconic construction projects, from the San Francisco Bay Bridge to Yankee Stadium, is under new ownership.
The American Bridge Co. — formed as part of U.S. Steel in 1900 by financier J.P. Morgan — has been acquired by Grapevine, Texas-based Southland Holdings LLC in a deal announced Thursday.
Rachel Sackett, Southland director of marketing and communications, said the acquisition will not result in any material changes at American Bridge, which employs about 450 people.
The company will keep its name and its local staff. If anything, Southland hopes to expand American Bridge and its workforce over time, she said.
“We’re not changing the brand name or the amazing legacy they built in the U.S.,” she said.
In announcing the purchase, Southland stated American Bridge would complement a portfolio that includes tunneling, facilities and pipelines, and heavy highway, bridge and marine construction.
“The acquisition of American Bridge into the Southland Holdings family is an exciting addition and natural fit as we continue to build on our diverse and dynamic position as global leaders in infrastructure engineering and construction,” said Frank Renda, Southland Holdings CEO.
No financial details related to the acquisition were disclosed. American Bridge officials could not be reached for comment.
In making the announcement, Southland stated that the acquisition will help to expand its “geographic reach, resources and ability to deliver a wide range of infrastructure projects.”
With its latest acquisition, Southland will be the parent company of six firms, with about $1.5 billion in annual revenues and $8.4 billion under contract. The company employs 2,800 people.
Ms. Sackett said the deal had its genesis in American Bridge looking for a recapitalization opportunity.
“It was just an absolutely perfect fit,” she said.
Southland is taking control of a company that has been involved in the construction of some of the world’s most renowned structures and bridges, including most in Downtown Pittsburgh.
American Bridge’s portfolio includes New York’s original Tappan Zee Bridge and its replacement, the Gov. Mario M. Cuomo Bridge; the Verrazano Narrows Bridge, also in New York; Michigan’s Mackinac Bridge; the Chesapeake Bay Bridge; and Edinburgh, Scotland’s Queensferry Crossing, which set a world record as the largest freestanding balanced cantilever in the world.
Among its Pittsburgh projects were the “three sisters” — the Roberto Clemente, Andy Warhol and Rachel Carson bridges over the Allegheny River.
The company’s work has spanned more than bridges. Other landmark projects include Yankee Stadium, Sears Tower in Chicago (now known as Willis Tower), the Louisiana Superdome, Petco Park in San Diego and the Las Vegas High Roller, considered the world’s tallest observation wheel.
During World War II, American Bridge manufactured 199 landing ships.
To add to its lore, the borough of Ambridge is named after the company.
Mark Belko: mbelko@post-gazette.com or 412-263-1262.
First Published: October 2, 2020, 10:00 a.m.
Updated: October 2, 2020, 11:13 a.m.
