Synergos Companies Acquires Florida-Based ODC Construction

Japanese company Asahi Kasei Homes has bought Florida-based subcontractor ODC Construction, through its U.S. subsidiary Synergos Companies.

ODC Construction, established in 2011, is a leader in shell construction in Florida and the Carolinas, serving builders with a focus in foundations, first-floor block masonry, and lumber framing services. In 2013, ODC developed a proprietary ERM system, bringing efficiency to the construction supply chain by offering a logistics-based solution to its home builder clients.

Synergos Companies is focused on driving home and construction efficiencies through a horizontally integrated business model. The company is composed of a family of residential trade partners focused on reducing cycle times, cutting overhead costs, and improving scheduling predictability. In addition to ODC Construction, the Synergos portfolio includes building components suppliers Erikson Framing Operations and Focus Companies; residential electrical, concrete, and HVAC group Austin Companies; and plumbing focused Brewer Companies.

Austin Companies, Brewer Companies, Door Sales & Installations, Erickson Companies, and Focus Companies.

With most of its operations focused in Arizona, California, and Nevada, the acquisition of ODC Construction brings the presence of Asahi Kasei and Synergos Companies to the Florida and Carolina markets on the East Coast.

“Given the growth trends in the Southeast, Florida is the perfect next step for Synergos as we bring our business model to construction markets that value predictability and genuine builder-trade partnerships,” Rich Gallagher, CEO at Synergos Companies, said. “ODC is a trusted name in the greater Orlando market, both known and appreciated nationally. The company shares our vision of quality and transparency. We plan to expand that vision as we collectively bring value to an undersupplied environment.”

Asahi Kasei said while strengthening its core business of order-built unit homes in Japan remains a key focus, the company values North America as an important source of additional future growth. The Japanese company said Synergos has “recorded firm performance by meeting growing needs for streamlining and cost reduction at construction sites due to labor shortages, long construction periods, and rising construction costs.” The acquisition of ODC exposes Asahi Kasei Homes to the Florida market, where it expects strong housing demand will continue in the future.

“The ODC team is beyond excited to partner with Synergos,” Tony Hartsgrove, CEO at ODC Construction, said. “We could tell right away that our business goals aligned. The combination of Synergos’ proven record of growth through acquisitions and ODC’s platform of operational excellence will create limitless possibilities along the East Coast.”

Ernst & Young Capital Advisors acted as the financial advisor to Synergos and Whelan Advisory acted as the exclusive financial advisor to ODC Construction.