A Rochester-based construction company that has been in business for more than 145 years has acquired a Buffalo contractor to expand its Western New York business while bringing on a seasoned executive to run its new local office.
The Pike Company Inc., a fifth-generation family-owned firm and one of the largest construction management companies in the Northeast, did not say how it paid to buy JT Vaeth Development. But it named founder and owner J. Timothy Vaeth, a longtime construction and development veteran locally, to head its regional operations.
Pike has more than 50 employees in the area assigned to projects locally and across the Northeast. The company is temporarily operating out of Vaeth's old office at 1001 East Delavan Ave., but is planning to relocate to a new office in the city, said spokesman Phil Pantano.
Vaeth, whose 25-year career included long stints with Ciminelli Real Estate Corp. and TM Montante Development, has worked on major projects for Kaleida Health, the Buffalo Niagara Medical Campus, M&T Bank Corp., University at Buffalo and government agencies. He started his own firm in 2015.
“The Pike Company has a well-earned reputation in the construction industry. As a fifth-generation, family-owned enterprise, they are known for, and believe in, integrity, quality and commitment to their clients,” Vaeth said. “I’m looking forward to helping the company build on that legacy and further establish their roots here in Western New York.”
Founded in 1873, Pike has been involved in several high-profile construction projects in the region recently, including the $200 million Athenex pharmaceutical plant in Dunkirk; the $40 million expansion of the emergency department and trauma center at Erie County Medical Center; and the $7.8 million emergency room expansion at DeGraff Memorial Hospital in North Tonawanda. It also is working on an expansion of the Brothers of Mercy adult care campus in Clarence, and has previously done work at UB's North Campus in Amherst, Canalside, Mercy Hospital of Buffalo and Canterbury Woods Gates Circle.
“Western New York has always been an important market for us and always will be,” said Rufus Judson, CEO of The Pike Companies, LTD. “We want to continue to be part of the growth wave and economic revitalization taking root across the region. We are excited to bring on a respected local leader like Tim, whose philosophy and values mesh so well with ours. We are excited to continue to strengthen our presence in the market.”