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McCarthy Holdings, Inc. history
McCarthy Holdings, Inc. company history timeline
The company he founded in 1864 is now a multi-billion dollar construction firm and one of the largest and most diversified commercial construction companies in America.
Now 100% employee owned through a well-funded ESOP, McCarthy employees are now both challenged and rewarded to act like owners while maintaining the family atmosphere that has made McCarthy distinctive since 1864.
In 1886, German inventor Karl Benz built the Benz Patent-Motorwagen.
After 1907, they ventured into other kinds of structures such as post offices and commercial buildings.
Incorporated: 1907 as the McCarthy Lumber and Construction Company
The firm was now well established in its new home state, having been chosen to build the Missouri Building at the San Francisco World's fair in 1916, with the construction crew traveling there by train.
In 1934 the growing company moved its operations to a larger headquarters in St Louis.
The next major risk was a venture in Alaska to build the Anchorage post office and courthouse in 1939.
In 1952 McCarthy also bought the Rock Hill Quarries Company, which provided a lucrative sideline for the firm.
An unusual project in 1961 brought McCarthy notice as a builder that could handle difficult projects and come up with creative solutions to the challenges they presented.
Completion in 1961 of the Priory Chapel helped establish the company’s reputation as a skilled builder with creative solutions, as well as a significant force in St Louis construction.
During this period the company was taking on considerably more work in the healthcare area, as well as beginning to design and build parking structures starting in 1969.
In 1972 McCarthy formed a subsidiary called McBro to perform healthcare construction management.
Bolen had started as a carpenter at the firm in 1978, later moving up to supervisory positions and then serving as vice-president of operations and president of the firm's Pacific Division.
1979: The first McCarthy regional office is opened in Phoenix.
The firm was now operating with its first non-McCarthy family president, Roger H. Burnet, who took over the job from Michael M. McCarthy in 1984, though the latter remained CEO and board chairman.
The company had its first billion dollar year in 1986.
Majority ownership of the firm was transferred to its employees in 1991, with former CEO and chairman Michael McCarthy, a descendent of the company's founder, retaining an interest of more than 40 percent.
In 1991 the company bought SDL, a Bellevue, Washington, contracting firm which was later named SDL McCarthy.
In 1995, Roger Burnet retired, and Michael D. Hurst, a 24-year McCarthy veteran, became the new president and chief operating officer.
The company's stock, which had been held by the McCarthy family since its founding, was opened to the firm's employees in 1996.
1996: McCarthy creates employee stock-ownership plan, giving employees partial ownership in the company.
1999: Education Services Group is formed to specialize in K-12 school construction.
In 1999, McCarthy opened an office in Las Vegas to serve that booming market.
In 2000 the firm's Texas division acquired the assets and contracts of the Houston office of Concrete Pavers, Inc. of Evansville, Indiana.
McCarthy moves into its new Nebraska office in Omaha, having served the greater Nebraska community since 2001.
138 years of family ownership came to an end in April 2002, when Mike McCarthy sold his majority interest in the company to McCarthy employees.
In 2002, Mike McCarthy sells his shares of the company to employees, making McCarthy one of the nation’s oldest, 100 percent employee-owned construction firms with majority ownership via an employee stock ownership plan (ESOP).
McCarthy launches its Heart Hats community outreach program in 2005 to help make a real difference in the lives of those in the local community.
In 2012, the company celebrates 10 years of becoming 100 percent employee owned.
Engineering News-Record ranks McCarthy the #1 contractor in California in August 2013.
In 2015, more than $1.5 million and literally thousands of volunteer hours were dedicated to making a difference.
The 2015 Roger Burnet Award goes to St Jude Medical Center Northwest Tower in Fullerton, Calif.
All contents ©2022 McCarthy Building Companies, Inc.
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McCarthy Holdings, Inc. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| MC Industrial | 2005 | $300.5M | 75 | - |
| DPR Construction | 1990 | $5.9B | 5,900 | 1,081 |
| Whiting-Turner | 1909 | $1.2B | 4,018 | 146 |
| Haskell | 1965 | $800.0M | 1,301 | 105 |
| Swinerton | 1888 | $1.7B | 4,000 | 193 |
| Turner Construction | 1902 | $14.4B | 10,000 | 1,505 |
| The Korte Company | - | $810,000 | 50 | 12 |
| M W Construction | - | $284.9K | 5 | - |
| Hutton | 1992 | $86.9M | 100 | 23 |
| A G Construction Co | - | $1.2M | 30 | 4 |
McCarthy Holdings, Inc. history FAQs
Zippia gives an in-depth look into the details of McCarthy Holdings, Inc., including salaries, political affiliations, employee data, and more, in order to inform job seekers about McCarthy Holdings, Inc.. The employee data is based on information from people who have self-reported their past or current employments at McCarthy Holdings, Inc.. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by McCarthy Holdings, Inc.. The data presented on this page does not represent the view of McCarthy Holdings, Inc. and its employees or that of Zippia.
McCarthy Holdings, Inc. may also be known as or be related to MCCARTHY HOLDINGS, INC., McCarthy Holdings, McCarthy Holdings Inc and McCarthy Holdings, Inc.