SAN RAFAEL -- General contractor Plath & Company today announced an ownership transition from the four founding partners to new partner J.B. Ferrarone over the next nine years.
"The ownership of Plath and Company, with a sincere desire to protect their customer promise, is honoring their commitments to employees, architects and designer partners by beginning a transition to the next generation," the company said in a statement. "Over the next nine years the four founding partners, Steve Plath, Chris Dailey, Bill Ballas and Tom Hall, will begin retiring in stages to secure a smooth, thoughtful, and seamless transition."
Mr. Ferrarone, who has more than 15 years of industry experience, including six with Plath & Company, recently purchased stock. The first to retire will be Mr. Daily in January 2013, followed sequentially by the others until Mr. Ferrarone becomes sole owner in 2020.
He has a bachelor of arts degree in construction management from Gettysburg College. After that he went to work for Hobbs, Inc., and learned company and project management.
Plath & Company started in 1976.