FlatironDragados has officially launched SPC Construction, a new civil infrastructure firm focused on tackling the complex transportation and water systems of the New York and New Jersey region.

The move brings together three long-established companies—Schiavone Construction, John P. Picone, and E.E. Cruz—under one brand. The combined firm will specialize in the region’s intricate network of tunnels, bridges, highways, and water infrastructure, according to a June 18 news release shared with Construction Dive.

Broomfield, Colorado-based FlatironDragados described the formation as part of a larger strategy to streamline operations in key urban markets. “The synergies among these three organizations enables a simplified structure that will ensure a consistent approach to operations, client success and risk management by SPC Construction,” said Javier Sevilla, CEO of FlatironDragados.

Each of the founding firms brings specialized expertise to the new entity:

• Schiavone Construction, based in Secaucus, NJ, has decades of experience in tunneling, mass transit, deep foundations, marine work, and water treatment plants.
• John P. Picone, headquartered in Lawrence, NY, focuses on tunneling, hydraulic works, and public water infrastructure.
• E.E. Cruz, out of Whitestone, NY, contributes core strengths in geotechnical projects, resiliency efforts, and deep foundations.

SPC Construction will be led by Managing Director Jesus Diez, former EVP of affiliates for Dragados USA. Joe Sheehan, president of E.E. Cruz, will serve as COO, and Neil Wegman, president and CFO of Picone, will assume the role of CFO for SPC.

The spinoff follows the 2024 merger that created FlatironDragados—formed through the consolidation of Flatiron, Dragados USA, and Dragados Canada under European parent companies Hochtief and ACS Group. The company now operates in 24 U.S. states and eight Canadian provinces.

In a separate statement from Hochtief, the company said the SPC deal is expected to close by the end of the second quarter. No information was provided about potential layoffs or redundancies due to the restructuring.

Sevilla emphasized the business logic behind the move: “The integration will result in economies of scale and be value accretive for the shareholders of FlatironDragados.”

The launch of SPC Construction positions FlatironDragados to aggressively pursue large-scale civil and environmental projects in one of the most infrastructure-heavy regions in the country. The New York metro area continues to see billions in public investment for upgrades to aging transportation corridors, flood mitigation, and water treatment systems.

This consolidation also aligns with broader trends in the industry, where major players are streamlining regional operations to improve risk management, enhance delivery consistency, and better respond to public agency procurement demands. SPC's deep local roots, combined with FlatironDragados’ national resources, could give it an edge in securing major contracts in the coming years.

While no financial terms were disclosed, the restructuring suggests a long-term strategy to capture market share and enhance competitiveness in megaprojects like MTA upgrades, East Side Access improvements, and ongoing resiliency work post-Hurricane Sandy.

Originally reported by Joe Bousquin in Construction Dive.