After 20 years of partnership, Frank Venegas, Jr., CEO of The Ideal Group in southwest Detroit, and Ryan Maibach, President and CEO of Barton Malow in Southfield, announced that Mr. Venegas is buying out Barton Malow’s interest in Ideal Contracting, fulfilling the vision of its founding members. Terms of the deal were not disclosed.
In December of 1997, the partnership of Ideal Contracting and Barton Malow Company was formed as a 51%/49% Minority Business Enterprise self‐performing construction company with a vision that one day, it would evolve into a standalone 100% minority enterprise.
In 1998, its first year of business, Ideal Contracting had revenue of $5.8 million with a staff of just five people. Over the years, Ideal Contracting and Barton Malow worked together to build the company’s leadership and talent base as well as cultivating an award‐winning safety program and a customer service culture.
DBusiness Magazine and Crain’s Detroit Business recently listed Ideal Contracting as the sixth largest general contractor in Michigan with revenues of over $270 million and more than 500 construction professionals and tradespeople. In addition, Ideal Contracting has expanded its customer base from mainly automotive to include universities, utility companies, refineries, and more.
Ideal Contracting’s projects include working as a subcontractor to the Barton Malow/Hunt/White joint venture on Little Caesars Arena in downtown Detroit and as subcontractor to Barton Malow self-performing the steel erection for the GM Flint Body Shop project. Ideal Contracting also worked on the construction of the Mike Ilitch School of Business at Wayne State University just north of Little Caesars Arena that will open this spring.
In addition to large programs, Ideal Contracting features a division that services in‐plant contracts under $1 million.
Known for its community engagement, especially in southwest Detroit, Ideal Contracting has collaborated with other firms and construction subcontractors to refurbish 16 classrooms at Holy Redeemer Grade School, located at Junction and Vernor. It previously provided the school with new plumbing and lavatories, a STEM classroom, and a computer lab, all of which have benefitted the students and faculty.
Ideal Contracting is a recognized leader in promoting inclusion and minority business enterprise with accolades that include Class IV Supplier of the Year in Construction from the Michigan Minority Supplier Business Council (MMSDC), General Motors Silver Impact Award, and FCA Diversity Award.
Frank Venegas stated the following about the maturity of Ideal Contracting as a stand‐alone enterprise:
” We credit our success as a general contractor to our skillful combination of specialty services and self-perform trades. Our industry knowledge allows us to retain a respected base of quality subcontracting partners in addition to enhanced self‐perform capabilities. We listen to our customers’ project goals and implement strategies to achieve them in order to offer competitive pricing and the highest level of quality, safety, and customer service. Our self‐perform specialty trades give us a competitive advantage and keeps us a step ahead.”
President & CEO Ryan Maibach stated, “Through the years, the Venegas and Maibach families built a strong relationship based on mutual respect and commitment to our customers. We at Barton Malow have great respect for Ideal Contracting and we wish them continued success as a 100% Minority Business Enterprise.”
Ideal Contracting and Barton Malow will continue to work with each other to provide top quality work to its customers. Both companies plan on preserving the strong working relationship following the buyout.