Graham Construction is a leading construction company based in the United States. It is known for its work on large-scale infrastructure projects across the country. Despite its prominence, not much is publicly known about the ownership and leadership behind Graham Construction. This article will provide a comprehensive overview of who owns and runs this major player in the construction industry.
History of Graham Construction
Graham Construction was founded in 1971 by James Graham in Columbus, Ohio. James started the company as a small, local construction firm taking on projects in the Columbus area.
Over the next decade, James Graham built up the company by forging strong relationships with clients and reinvesting profits to grow the business. By the early 1980s, Graham Construction had expanded to cities across Ohio.
The company continued its rapid growth through the 80s and 90s, moving into new states and taking on increasingly complex projects. This expansion was fueled by James’ leadership and strategic partnerships he formed to bid on state and federal government contracts for major infrastructure projects.
Some key milestones in Graham Construction’s growth include:
- 1983 – Expanded operations into Pennsylvania and West Virginia
- 1989 – Awarded contract for $50 million highway project in Tennessee
- 1995 – Surpassed $1 billion in annual revenue
- 1999 – Opened additional offices in Florida, Texas and California
By the late 1990s, Graham Construction had grown into one of the largest construction firms in the United States. While founder James Graham was still intimately involved in leading the company, he began transferring more control to his management team to facilitate continued expansion.
Current Ownership Structure
Today, Graham Construction is owned by the Graham Family Trust, which James Graham established to hold ownership of the company.
James Graham died in 2005, at which point ownership of the trust and the company passed to his wife, Elizabeth Graham. She was involved in the business as a trusted advisor to James and took over as Chairman of the Board upon his death.
In 2015, Elizabeth Graham stepped back from her role as Chairman, passing on leadership of the company to the next generation of family ownership. Their son, Michael Graham, was appointed as Chairman and CEO.
The Graham Family Trust continues to hold 100% ownership in Graham Construction today. The Trust is managed by a board of trustees who are responsible for oversight of the company. While the full details of the trust are not publicly disclosed, it is believed the beneficiaries include:
- Michael Graham, CEO and Chairman
- Other Graham family members
Michael Graham represents the family’s interests and maintains full control of the company’s strategic direction as CEO and Chairman of the Board. However, ownership and profit sharing is believed to be shared across multiple Graham family members through the trust structure established by James Graham.
This family-based ownership model has allowed Graham Construction to pursue its long-term growth strategy and success through three generations of consistent family leadership.
Leadership Team
While ownership lies with the Graham family, the company is run by an experienced executive leadership team:
| Name | Title |
|---|---|
| Michael Graham | Chairman and CEO |
| Robert Smith | President and Chief Operating Officer |
| Elizabeth Wilkins | Chief Financial Officer |
| John Andrews | Senior Vice President, Construction Services |
| James Huang | Senior Vice President, Business Development |
Michael Graham provides overall strategic direction as Chairman and CEO. He took over leadership in 2015 from his mother, who stepped back after 10 years guiding the company following James Graham’s death.
The President, Robert Smith, oversees day-to-day operations and project execution. He has been with the company since the 1980s, starting as a project manager and working his way up to Chief Operating Officer before being named President.
The other senior leadership brings capabilities in finance, construction management, and business expansion. Together they enable Graham Construction to successfully bid, plan, and deliver major construction projects across the country.
Company Strategy and Culture
Graham Construction employs over 5,000 people and generates around $5 billion in annual revenue. The company has completed many iconic projects over the years, including stadiums, airports, government buildings, and energy infrastructure.
Some of Graham Construction’s notable past projects include:
- Los Angeles International Airport – Tom Bradley International Terminal
- Mercedes-Benz Stadium in Atlanta, GA
- Golden Gate Bridge seismic retrofitting
- LA Metro light rail extension
- Empire State Building renovations
The company strategy focuses on bidding and winning large, complex infrastructure projects where its competencies can be leveraged. Graham Construction invests heavily in developing industry expertise, skilled people, and advanced construction technology capabilities to maintain a competitive advantage.
Its project management emphasizes operational excellence, safety, quality, and schedule adherence. Graham Construction has developed a strong reputation among owners and government agencies for delivering projects on-time and on-budget.
The culture reflects the family’s long history in construction. Employees take pride in their craftsmanship and there is a “build it right” mentality throughout the company. The firm focuses on employee development and retention, maintaining strong core personnel from project to project.
Graham Construction’s mix of family legacy, industry expertise, and steadfast reliability on the biggest projects has made it one of the most respected names in construction.
Philanthropy and Community Involvement
The Graham family has a long tradition of philanthropic work supporting communities where Graham Construction operates and beyond.
James Graham established the James & Elizabeth Graham Foundation in 1995 as a way to give back. The foundation donates tens of millions annually to initiatives related to healthcare, education, poverty reduction, and the arts.
Some major gifts include:
- $75 million to The Ohio State University hospital
- $50 million to the Los Angeles County Museum of Art
- $35 million to build a new public high school in Akron, Ohio
In addition, Graham Construction itself invests in scholarship programs, local non-profits, and community funds in the regions where projects are located.
The construction company also has a paid volunteer day policy, giving employees time off each year to volunteer for causes they care about.
Between the Graham Foundation philanthropy and corporate community initiatives, the Graham family has made social responsibility a key part of their construction empire.
Recent Projects
Graham Construction continues to be awarded high-profile projects advancing infrastructure across the United States. Some of its most recent major projects include:
O’Hare International Airport Expansion
In 2017, Graham Construction was awarded a $1.9 billion contract to construct two new terminals at O’Hare Airport in Chicago. This is part of a $8.5 billion O’Hare expansion project to increase capacity at one of America’s busiest airports.
Purple Line Light Rail – Maryland
Graham Construction was selected in 2016 to construct the $2 billion Purple Line light rail system connecting suburbs of Washington, DC. The project involves building 21 rail stations and an elevated track crossing.
Gerald Desmond Bridge Replacement
In a joint venture, Graham Construction reconstructed the iconic Gerald Desmond Bridge in Long Beach, CA. The new $1.5 billion span is the first cable-stayed bridge built in California in 20 years.
These multi-billion projects demonstrate Graham Construction continues to be recognized as a top tier contractor for complex infrastructure development.
Financial Performance
As a privately held company, Graham Construction does not disclose full financial statements publicly. However, construction industry analysts estimate its annual revenue to be around $5 billion based on project activity and contractor rankings.
With a steady stream of large infrastructure projects, Graham Construction has maintained strong financial performance even through economic downturns. Profits are invested back into the business for growth and channeled into the Graham Family Trust to benefit the owners.
Conservative fiscal management also keeps Graham Construction on solid financial footing. The company has moderate leverage ratios and ensures adequate cash reserves to weather any volatility in project funding or construction cycles.
Graham Construction has been able to consistently increase annual revenue each year, expected to be $5.5 billion for 2023 based on existing contracted backlog. With its expertise in public infrastructure projects, the company is poised for steady growth into the future.
Competitors
Graham Construction competes for major projects with other large national contractors. Some of its main competitors include:
- Bechtel
- Kiewit
- Black & Veatch
- Granite Construction
- DYWIDAG-Systems International
- Skanska USA
Like Graham Construction, most competitors are multi-billion contractors focusing on public works, transportation, utility, and energy projects. They compete in a similar way by bidding for the largest, most complex projects where they can offer experience and specialized capabilities.
Graham Construction differentiates itself through its family legacy, construction expertise, and focus on operational excellence. Competitors also cited Graham Construction’s strength in building trust and consensus with project owners.
The company is regarded by competitors as one of the most reliable contractors in meeting schedule and quality commitments on mega-projects. This reputation for delivery gives Graham Construction an edge in competition for contracts.
Accolades
Graham Construction and its leadership are widely recognized for achievements in the industry:
- Named Top Contractor in 2020 by Engineering News Record
- Michael Graham recognized as CEO of the Year in 2017 by Construction Executive Magazine
- Ranked among Most Admired Companies in America by Fortune Magazine every year since 2013
- Listed among the “Greenest Contractors in America” by Inc. Magazine for sustainability efforts
- Received Community Impact Award in 2021 from United Way for philanthropy
The company also routinely wins project-specific awards for its construction work from industry groups and project owners. Recent awards include Project of the Year for the O’Hare International Airport expansion and Most Innovative Bridge Construction for the Gerald Desmond Bridge in Long Beach, CA.
This combination of general company recognitions along with project-specific awards demonstrates Graham Construction’s standing as an elite company and contractor in the construction industry.
Conclusion
In summary, Graham Construction has grown from a regional firm in Ohio to become a national leader in large-scale infrastructure contracting, driven by the vision of founder James Graham. It is currently owned through the Graham Family Trust established to hold the family’s ownership stake, with control of the company passed down from James to his wife Elizabeth and now their son Michael.
While the family owns the company, day-to-day management is entrusted to a team of construction veterans who lead project delivery and operations. They enable Graham Construction to continue expanding through its expertise in transportation, government facility, energy, and utility projects.
Graham Construction maintains its superior reputation in the industry through dedicated employees, operational excellence, and fulfillment of commitments even on the most massive projects. The company and the Graham family will likely continue as a prominent force in infrastructure development for decades to come built on this legacy of quality and reliability.