ENDICOTT, N.Y. — RW Dake Construction, which is headquartered in East Rochester, on Nov. 1 acquired the assets of Endicott–based Tim Duffek Contracting, Inc.
RW Dake pursued the acquisition as Tim Duffek is planning to retire, per a RW Dake news release. Financial terms of the acquisition were not disclosed.
Formed in 1999, Tim Duffek Contracting is a commercial contractor specializing in drywall, metal stud framing and acoustical ceilings.
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It’s located at 432 Daugherty Road in Endicott. RW Dake now refers to the location as its “Binghamton” office, per it website.
RW Dake plans to hire all of Duffek’s employees. The employee count has fluctuated between 20 and 50 employees, depending on the size of the projects that the firm was working on, Adam Stanard, CFO of RW Dake, tells CNYBJ in an email.
Duffek had about 25 employees at the time of the acquisition, which increased the RW Dake employee count to about 250 employees, Stanard adds.
RW Dake will also work with Tim Duffek to close out existing contracts and retain current clients.
When asked if the Tim Duffek firm will become RW Dake, Stanard replies in the email message, “RW Dake is acting as a subcontractor to Tim Duffek Contracting on a few projects that were in process as of the acquisition date and RW Dake is named as the contractor for new contracts.”
Founded in 1960, RW Dake is a specialty commercial contractor operating from seven regional offices located in New York, New Jersey, Pennsylvania, and Maryland.
RW Dake handles construction projects in industries that include banking and health care. The firm is currently licensed to work in 10 states.
“RW Dake is extremely excited about extending the reach of our existing Southern Tier office [in Corning] into Binghamton… and the surrounding areas” Greg Vangellow, the firm’s CEO, said in the release. “We have a deep respect for the reputation of Tim and his team. This opportunity is a win/win/win for Tim’s employees, clients and us.”
RW Dake says it is “close” to securing a new Binghamton office and warehouse.
Contact Reinhardt at ereinhardt@cnybj.com
