J.S. Held Expands into Surety Services with Acquisition of Lovett Silverman
JERICHO and HAUPPAUGE, NY – June 23, 2016 – J.S. Held LLC, a leading, national, full service construction consulting firm, today announced the acquisition of Lovett Silverman Construction Consultants, Inc. John J. Lovett, President of the firm, joins J.S. Held as Senior Vice President and National Director of Surety Services. Financial terms of the private transaction were not disclosed.
Lovett Silverman is a premier construction surety claims consulting firm, specializing in construction claims analysis, Critical Path Method scheduling, expert witness and litigation support, property inspection, and risk analysis. The company will operate as “Lovett Silverman,a J.S. Held Company”. Lovett Silverman executives Anthony Lardaro and Richard Sexton will continue their leadership roles as Vice Presidents in the New York and Orlando Offices, respectively. Lovett Silverman’s Ramsey, NJ operations are not included in the transaction.
“We have sought to enter the surety services sector for some time and are excited to unite our strong teams under one umbrella,” said Jon Held, President and Chief Executive Officer of J.S. Held. “We will be able to offer a wider range of services to our clients, while further scaling our business.”
“We have provided different services to shared clients for many years, and the J.S. Held platform gives us the ability to build a national surety practice and enhance our project scheduling services,” said Lovett. “We share a dedication to high quality client service and look forward to working closely with Jon and his team.”
This acquisition is the third acquisition J.S. Held has made since receiving a controlling investment in 2015 from Lovell Minnick Partners, a private equity firm specializing in investing in financial and related business services companies. Previous acquisitions include the Property Loss Division of Chroma Building Corp., and Wakelee Associates, LLC, a construction and mitigation consulting firm. J.S. Held now has 33 offices across the United States and Canada.
Corporate Fuel Advisors served as financial advisor, and SilvermanAcampora LLP acted as legal counsel to Lovett Silverman. Morgan Lewis & Bokius, LLP served as legal counsel to J.S. Held.
About J.S. Held LLC
Established in 1974, J.S. Held is a leading construction consulting firm specializing in property damage consulting, construction claims consulting, project and program management and dispute resolution services. J.S. Held’s consultants have provided their expertise on more than 100,000 commercial, industrial, high rise, special structures, governmental, residential, and
infrastructure construction matters globally. The company serves its clients from over 30 locations throughout the U.S. and Canada. For more information regarding J.S. Held, please visit www.jsheld.com.
About Lovett Silverman
Lovett Silverman Construction Consultants provides quality services and a standard of care that are the best in the industry. The company’s national network of diverse professionals has earned the trust and respect of a number of America’s leading owners, corporations, sureties, law firms, financial institutions, insurance companies and government agencies. Over the years, Lovett Silverman has consulted on thousands of jobs with a combined value of tens of billions of dollars.