Dive Brief:
- The construction M&A push continues. Chicago-based contractor Bulley & Andrews has acquired Interior Construction Group, a fellow builder in the Windy City, according to an April 13 announcement shared with Construction Dive. The financial terms of the deal were not disclosed.
- Interior Construction Group, which was founded in 1988, will now operate as Bulley & Andrews Interior Construction Group out of ICG’s office in downtown Chicago, according to the announcement. Tim Puntillo, B&A’s chief operating officer, told Construction Dive that there would be no layoffs or organizational adjustments as a result of the acquisition.
- B&A, which has been in business for 135 years, views the acquisition as a way to expand and grow in the commercial real estate market and an investment in the contractor’s long-term growth strategy, Puntillo said.
Dive Insight:
B&A is optimistic about its market, Puntillo said.
“Both B&A and ICG feel strong about the direction of the interiors market, as more and more firms return to in-office work and building’s continue to upgrade their spaces to accommodate the demands of today’s tenants,” he said. “By adding ICG’s interior expertise to our core capabilities, we’re opening the door to new growth and a stronger presence across the commercial real estate landscape.”
ICG’s leadership was similarly upbeat.
“We are excited to be a part of the Bulley & Andrews family. Bringing our teams together allows us to bolster our capabilities to provide even greater value for our clients,” said ICG President Steve Zuwala in the announcement.
Bulley & Andrews was ranked No. 196 in Engineering News-Record’s 2025 list of top contractors by revenue in the U.S., generating $655 million in revenue in 2024. Its sectors include higher education, retail, institutional and healthcare, among others, according to its website.
ICG is the fifth company that B&A has acquired, according to the announcement. B&A’s most recent acquisition prior to ICG was of Nashville, Tennessee-based Rock City Construction in December 2020, Puntillo said. The firm now operates as Bulley & Andrews Rock City.
Over the past year, M&A in construction has been red-hot as builders and construction tech firms alike combine with and add firms to their portfolios. Sean Auton, co-managing partner of law firm Kilpatrick’s Chicago office, predicted that the M&A push would continue in 2026, and, so far, it has. Most recently, the Nemetschek Group, provider of software Bluebeam and Nevaris, acquired construction software firm Heavy Construction Systems Specialists.
