Sale of Pacific Construction to BlockPoint LLC

SALE OF PACIFIC CONSTRUCTION

TO BLOCKPOINT LLC

(Picone acted as Corporate Advisor and General Counsel)

 ELMHURST, ILLINOIS, June 1st, 2020– Picone Advisory Group, LLC (“Picone”) President Christopher L. Picone is pleased to announce the acquisition of Pacific Construction Services, Inc. (“Pacific”), by Picone client BlockPoint LLC (“BlockPoint”).

Pacific is a Chicago based general contractor that has been in business for almost thirty (30) years. The company has built many notable projects in Chicago and the nearby suburbs such as the highly praised addition to the Adler Planetarium in Chicago, IL, the Fermilab Research and Development Facility in Batavia, IL, the Elmhurst Public Library in Elmhurst, IL, the Fort Sheridan Training Center in Fort Sheridan, IL and the Starbucks in Glenview to name just a few.

“We are pleased to add the Pacific team to our growing platform of real estate related companies,” said Bart Friedman Principal of BlockPoint.  “The addition of a full service general contracting firm will provide great synergies with our expanding real estate development business.”

“We are grateful to Picone for bringing this opportunity to our attention and guiding us through the entire process from negotiating the letter of intent to contract negotiations and due diligence through closing,” said Steve Bykowski, Chief Operating Officer and Principal of Pacific.  “We could not have done this without Picone’s industry knowledge, transactional expertise and good counsel.”

The new business will be called Pacific Construction, a BlockPoint Company and will continue to be headquartered at 5511 N. Cumberland Avenue, Suite 608, Chicago, IL  60656.  The Company’s website address is www.pacificconstructionus.com.

Picone Advisory Group provides consulting services to an international client base in a wide variety of industry settings including: financial services, professional services, manufacturing, aerospace, building and construction, food and food service, homeland security and first response, healthcare, energy, real estate, wholesale and retail services, technology, telecommunications, and transportation.

For more information on Pacific Construction or the BlockPoint Companies, please call or email Bart Friedman at 773-290-1600 or Bart@PacificConstructionus.com.   

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For more information about this topic or Picone Advisory Group, contact Christopher L. Picone at CPicone@PiconeAdvisoryGroup.com or call (630) 519-5971.