Friday, December 28, 2007
Roanoke contractor expands into north
The Branch Group paid an undisclosed sum earlier this month for R. Edward Daffan.
A large Roanoke contractor has expanded into Northern Virginia.
This month, The Branch Group purchased Manassas-based R. Edward Daffan, a general contractor that focuses on design building, which combines both construction and architectural services.
Larry Dickenson, formerly vice president at Branch Highways and the new president of Daffan, would not disclose the amount of the purchase on Thursday.
He said Branch has been working on the acquisition for six to eight months, and the company targeted Daffan to draw on its Northern Virginia projects.
"We intend to build on their reputation," said Dickenson, a native of Roanoke who joined The Branch Group in 1983.
The Daffan acquisition should boost Branch's revenue in 2008.
In 2007, Branch will have revenue of about $270 million, Dickenson said. With Daffan, Branch expects to have more than $300 million in revenue in 2008, he said.
Daffan now is the fifth company under The Branch Group. Branch's companies operate as wholly owned subsidiaries and range from highway to mechanical construction services. They are Branch & Associates, Branch Highways, G.J. Hopkins and E.V. Williams, which is based in Virginia Beach.
Of the five companies, Branch & Associates has the most revenue, with more than $100 million, Dickenson said.
After a start in road and site construction, Billy Branch founded Branch & Associates in 1963. He reorganized the company in 1986 to form The Branch Group, according to its Web site.
Branch retired from The Branch Group in 1992, and he now operates Branch Management Corp., a property management company in Roanoke, with his sons.
Branch Management and The Branch Group are not affiliated, Dickenson said.
Branch Group employs 800 people statewide. It is 100 percent employee owned through an employee stock ownership plan that began in 1982.





