Balfour Beatty Construction agrees to acquire SpawMaxwell Co.

Balfour Beatty Construction has reached an agreement to acquire SpawMaxwell Co., the largest Texas interior construction contractor.

Dallas-based Balfour officials said in a statement Friday that the deal will enhance the $2.4 billion company’s growth in the vertical construction market. Balfour has 1,600 employees in 10 offices nationwide.

Houston-based SpawMaxwell, founded in 1998, reported record-setting revenue of $350 million in 2008 and employs 141 in three Texas offices.

Balfour will use SpawMaxwell’s Houston location as one of five full-service division headquarters in the country, including Dallas.

“We couldn’t be more excited about this opportunity,” said Steve Mechler, SpawMaxwell president. “As our clients’ needs evolve, we too are evolving — to offer a much broader array of services and a more diversified set of career opportunities for our people.”

While SpawMaxwell will retain its brand, it will begin immediately operating under “SpawMaxwell – a Balfour Beatty company.”

SpawMaxwell was created in 1998 after the consolidation of David Spaw Co. and Maxwell Co. Construction.