Scottsdale-based Synergos Cos. paid $250 million for a Florida construction firm, adding to its growing list of acquired residential construction trade partners.
The acquisition of Orlando-based ODC Construction marks the company's debut in the Florida market, where ODC specializes in foundations, first-floor block masonry and lumber framing services. Synergos acquired local HVAC/electrical Austin Cos. in 2020, then in 2021 acquired Brewer Cos. to add depth and production capabilities to its home construction process.
By putting these various trade groups under one umbrella, the goal is to solve major issues plaguing residential homebuilders today, including supply shortages, lack of available skilled workers, constrained time frames and lack of efficiency, said Rich Gallagher, CEO of Synergos.
The company's integrated approach is designed to reduce cycle times, cut overhead costs and improve scheduling predictability, said Gallagher, who noted that these are long-term strategic purchases.
Synergos is backed by Tokyo-based Asahi Kasei Homes Corp., which already had invested more than $200 million to purchase trade companies, including and Brewer Cos. and Austin Cos.
