Arc Building Partners and Claremont Companies have entered into a strategic partnership agreement.
The deal will bolster Claremont’s construction capabilities and enable Arc Building Partners to expand into the New York/New Jersey metropolitan market.
Arc Building Partners will merge with Claremont Construction Group, the construction affiliate of Claremont Companies, and acquire its backlog of projects.
Claremont’s current projects will continue under the same project managers, and over time, the 25 employees of its construction group will gradually be absorbed into the Arc team.
Going forward, Claremont Companies will focus entirely on its real estate development business, and Arc Building Partners will become its go-to construction partner for upcoming projects.
“With our shared values and individual strengths, this is the right match at the right moment in our firm’s early history,” said Arc Building Partners president Frank Ciminelli II.
“This strategic partnership will provide us with direct access to several attractive construction markets along the East Coast, opening the door to new growth opportunities..”
Stephen Sciaretta, principal at Claremont Companies added, “This strategic relationship broadens our construction capabilities and deepens our bench, and importantly, it has the potential to accelerate the future success of both Claremont Companies and Arc Building Partners.”
Launched in September 2017, Arc Building Partners is a Buffalo, New York-based construction management firm.
Headquartered in Far Hills, New Jersey, Claremont has completed thousands of residential units and millions of square feet of commercial and retail projects as both a principal developer and third-party general contractor.
Among its recent projects, Arc Building Partners completed renovations to the premium seating areas at the home of the Buffalo Bills, New Era Field. Claremont Companies’ recent notable projects include the Rivet Apartments project, which is located within the University Place mixed-use redevelopment project in Jersey City.
