CONSTRUCTION: GISI Forms Special Gafcon-PM Subsidiary
SAN DIEGO – Gafcon, Inc., a Scripps Ranch construction management and development company, sold what it described as “substantially all” of its operating assets to a wholly owned subsidiary of Global Infrastructure Solutions, Inc.
Founded in 1987 in San Diego by Yehudi “Gaf” Gaffen and his wife, Pam, Gafcon emphasized that the legal entity that is Gafcon itself had not been sold and could do business in the future.
Rather, Global Infrastructure Solutions (GISI), based in New York, formed a new subsidiary, Gafcon PM-CM, LLC, which will take over Gafcon’s operations, although neither Gafcon nor GISI would elaborate, saying simply that terms of the deal were confidential.
Gafcon’s clients include San Diego Unified School District, Vista Unified School District, Grossmont Union High School District, Grossmont-Cuyamaca Community College District, SAC Health, and Innercare, according to Bryan Benso, Co-CEO of Gafcon-PM-CM, LLC.
The company is providing program management services for Seaport San Diego, a proposed $3.5 billion proposed project that would redevelop the downtown San Diego bayfront, including Seaport Village.
It also is playing a leading role in the planning and design of a 3,200-acre waterfront project in China.
Gafcon has offices in San Diego, Los Angeles and Imperial Valley.
Strategic Agreement
Officials with Gafcon and GISI declined interview requests, but Benso, in an email, said that he and Co-CE Robin Duveen will join Gafcon PM-CM, LLC “and continue to lead the company.”
“Our clients and ongoing projects will not be affected by the transaction,” Duveen wrote. “Operations will run as usual.”
Gaffen will continue as chairman of the board of Gafcon, Inc., according to Benso, and Gafcon’s approximately 130 employees will join Gafcon PM-CM, LLC.
“We are proud of the company that my wife, Pam, and I founded back in 1987, and our employees’ dedication to excellence in service to our valued owner-clients,” Gaffen said in a news release. “This strategic agreement underscores our commitment to supporting the communities in which we live and work and providing our people with the opportunity to personally grow and thrive.”
GISI Chairman and CEO Rick Newman, said in the news release, “We are pleased to welcome the Gafcon management team and employees to the GISI family of companies.
The agreement advances GISI’s engineering and consulting business by expanding our capabilities and end market coverage and complements the services and growth of GISI’s other operating companies.”
Gafcon
FOUNDED: 1987
HEADQUARTERS: Scripps Ranch
CHAIRMAN & FOUNDER: Yehudi “Gaf” Gaffen
BUSINESS: construction management and development
EMPLOYEES: 130
WEBSITE: www.gafcon.com
CONTACT: 858-875-0010
NOTABLE: In addition to San Diego, Gafcon has offices in Los Angeles and Imperial Valley
Read more at:
San Diego Business Journal
https://www.sdbj.com/real-estate/construction/new-york-co-takes-over-gafcon-operations-biz/?oly_enc_id=0351J4936023E8U
ABOUT GAFCON:
Gafcon PM-CM LLC provides comprehensive services in program and project management, construction, and development. The company’s techniques and methodology were developed as a response to increasing client demand for more effective controls, focusing on controlling cost, time and quality. Gafcon’s diverse portfolio includes projects from the educational, public works, governmental, commercial, and residential sectors. As an award-winning firm, Gafcon has been recognized in Engineering News-Record's Top 50 Program Management and Top 100 Construction Management Firm lists. Learn more at www.gafcon.com.
MEDIA CONTACT: Stephen Johnson | stephen.johnson@gafcon.com | 858.875.0010
