Augusta, Maine, February 23, 2004 -- The 129 year old, Augusta based road building contractor, Bridgecorp was sold on Friday, February 20th by its fourth-generation owner and President. John C. Bridge announced the sale to 132 year old Pike Industries, headquartered in Belmont, New Hampshire, with its Maine office in Lewiston, and with paving operations throughout central, southern, and western Maine.
John Bridge, who is 71 years old and has led the company since 1975 said, “This sale meets all of my personal goals. As I approach my retirement, it was a priority to find a buyer with as much history and community stature as Bridgecorp enjoys. As one of Northern New England’s largest and most respected paving contractors, Pike Industries exceeded these expectations and at 132 years old, even has three more years of history!”
Bob Robillard, head of Pike’s Maine operations, stated that, “Bridgecorp is a valuable addition to our Northern New England growth plan and competitive level. In addition to their experienced staff, they fill our need for reliable heavy earthwork capability. Pike and Bridgecorp have worked together on many construction projects in Maine so I am confident that this acquisition will be successful and will provide both groups of employees with increased opportunities for career advancement. We look forward to the complementary synergy of Pike’s 300-strong paving workforce with Bridgecorp’s 70 heavy earthwork forces to create a formidable and effective producer in the private earthwork and public highway/paving markets.”
John Bridge said, “From a personal standpoint, the highlight of this sale was Pike Industries insistence that Bridgecorp continue to function as an independent operating unit under our current name. The Bridgecorp sign will still mark our headquarters on Water Street in Augusta, and our equipment shop at Windsor, and I will continue in my current role for two more years.” John added, “In fact, this transition is so seamless that if we didn’t tell you about it today, I don’t think anyone would notice the “new Bridgecorp” until I finally retire ---- someday.”
Founded in Connecticut in 1875, Bridgecorp has worked in Maine since 1914 with its headquarters located in Augusta since 1935 and has been a very active community member. John Bridge is a former Mayor of Augusta, Councilman and School Board Member and in 2003 was Kennebec United Way’s Co-chair with his wife Charlene Bridge. John and Charlene live on Viles Street in Augusta, but now spend winters in Florida. Pike Industries was founded in 1872 in New Hampshire and is now led by its 5th generation family member, President Randy Pike, who says, “This was a ‘good deal’ because it meets Pike’s objectives as well as John’s personal goals, while preserving Bridgecorp’s terrific team of 70 skilled roadbuilders. A WIN/WIN result.”