SoftBank-backed Katerra acquires NJ construction company

Fields Construction Company to lose its name

TRD NEW YORK /
May.May 03, 2018 08:00 AM

From left: Robert Caulfield, James Caulfield and Katerra’s Michael Marks

Fresh off raising $865 million in venture funding, construction startup Katerra acquired Hoboken-based Fields Construction Company.

Fields, founded in 1999 and led by Robert and James Caulfield, will lose its name. Katerra, which announced the deal on Thursday, did not disclose financial terms.

California-based Katerra, founded in 2015, wants to transform the construction business by making it a little more similar to industries like car manufacturing. Rather than rely on subcontractors, the company handles everything from architecture plans to actual construction. It also has several factories to manufacture its own building components.

In January, the company announced a $865 million funding round led by SoftBank’s Vision Fund. Soros Fund Management and Canada Pension Plan Investment Board are also investors, according to the New York Times.

Fields’ past projects include the Hoboken apartment buildings 1100 Jefferson Street and 1101 Madison Street, according to the company’s website. The company started off as the construction arm of Fields Development Group.


Related Articles

arrow_forward_ios
The extended shutdown of construction sites throughout New York will affect loans, insurance costs and supply availability (Credit: iStock)

Shutdown poses big risks for projects — even when it ends

WeWork CEO Sandeep Mathrani and Softbank CEO Masayoshi Son (Mathrani by Neilson Barnard/Getty Images; Son by Tomohiro Ohsumi/Getty Images)

WeWork sues SoftBank for scrapping $3B bailout

Softbank CEO Masayoshi Son (Photo by Tomohiro Ohsumi/Getty Images)

“Tactically, I’ve made regrets. Strategically, I am unchanged:” The Masa Son interview

Map of essential active construction sites (Credit: NYC Department of Buildings)

City clears another 300 construction sites for “emergency” work

Union executive Thomas Flynn (Credit: Stan Grossfeld/The Boston Globe via Getty Images)

Thousands of Massachusetts construction workers will strike on Monday over coronavirus safety

WeWork CEO Sandeep Mathrani and Softbank CEO Masayoshi Son (Credit: Mathrani by Neilson Barnard/Getty Images; Son by Alessandro Di Ciommo/NurPhoto via Getty Images)

WeWork asks landlords to cut rent bill as SoftBank abandons bailout

Governor Andrew Cuomo (Credit: Albin Lohr-Jones/Pacific Press/LightRocket via Getty Images)

Prevailing wage expansion included in budget deal

From left: 500 E. 30th St., 312 W. 43rd St., 60 Norfolk St., Gotham's David Picket, Department of Buildings Commissioner Melanie La Rocca and Taconic's Charles Bendit (Credit: Google Maps)

Project filings slowed in winter, plunged in March

arrow_forward_ios
Loading...