STV Acquires DPM

NEW YORK – STV has acquired Diversified Project Management (DPM), a leading provider of owner's project management services throughout the greater Boston/New England region. Based in Newton, MA, and Hartford, CT, DPM will become part of STV's construction management practice, and will operate as STV/DPM.

"We are very excited about the opportunities that this will bring to all of us," said Dominick M. Servedio, P.E., executive chairman of STV. "Each firm has outstanding reputations in their respective marketplaces. This transaction brings together two culturally aligned firms, with a strong focus on client service."

Incorporated in 1989, DPM has 65 fulltime employees. The firm provides owner's project management services including strategic development advisory, owner's representation, facilities management, and move management and relocation services. DPM boasts a strong portfolio and has worked with hundreds of clients totaling millions of square feet of space in virtually every type of business. Specific industry segments include academic, corporate, healthcare, high-tech and RD, industrial, lab and life sciences, municipal, non-profit, retail and hospitality, and technology solutions.

"The union advances STV's strategic goal to deepen its 35-year presence in the New England marketplace while enhancing existing service lines," said Milo Riverso, Ph.D., P.E., CCM. "It is consistent with STV's strategic plan to become a national provider of construction and project management services."

Recent DPM projects include:

• Vertex Pharmaceuticals: managed the relocation from 700,000 square feet of space in 11 different buildings in Cambridge to 1.1 million square feet across two connected buildings in South Boston's Innovation District

• Boston Medical Center: managed the construction and occupancy of BMC's 250,000 SF Shapiro Ambulatory Care Center

• Westfield State University: managed the design and construction of a new $40 million, 400-bed residence hall, University Hall, and renovations to the existing Ely campus center.

"We are enthusiastic about this union as it will provide access to a national client base, enable us to deliver even more value to our existing clients, and offer enhanced opportunity for our staff," said Robert Keeley, president, DPM.

Since opening its doors more than 100 years ago, STV has become a leader in providing a range of construction management, planning, engineering, architectural, and environmental services for energy, transportation, infrastructure and facilities projects. The firm is ranked 7th in construction management in Building Design + Construction's Giant's survey and ranked 42nd in Engineering News-Record's Top 500 Design Firms survey. STV is 100 percent employee-owned.

For more information, contact:

Jill Bonamusa, (212) 614-3354

SOURCE STV Incorporated

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