Story Construction, an Ames-based, employee-owned construction company, is expanding its reach to Sioux City after a purchase agreement with L&L Builders Co.
“I’m so proud of what this firm has accomplished throughout its history and in the 10 years I’ve been with the company,” Joel Jarman, president of L&L Builders Co., stated in a press release. “We’re excited to see our people continue to thrive and grow in this next chapter under the leadership and support of Story Construction.”
L & L Builders, established in Sioux City in 1960, initially specialized in masonry. The company evolved into a full-service general contractor that spans healthcare, manufacturing, government, hospitality and historic restoration efforts. They complete an average of $30 million in projects annually.
Story Construction confirmed that the workforce will be retained, and the leadership team will remain intact.
According to the press release, “The acquisition demonstrates Story Construction’s commitment to growth as an employee-owned company, both in people and in geographic reach.”
“L&L’s long-standing reputation and commitment to its partners and clients aligns perfectly with our vision for growth,” Mike Espeset, president of Story Construction, said in the press release. “We look forward to continue delivering for those in the Sioux-land region and expand the reach of Story Construction.”
Story Construction has been a prominent name in construction since its founding in 1934. Starting with projects at Iowa State University and wartime infrastructure, it expanded into water treatment and commercial construction sectors.
In 2022, the company transitioned to an employee stock ownership plan. According to the Story Construction website, “all employees benefit from the financial success of the company.”
In an email interview with the Daily, Mike Espeset, President of Story Construction stated, “This acquisition gives us more scale to serve customers, develop and grow our team members in their careers, and ultimately add value to our employee owners in our employee stock ownership plan (ESOP).”
Story Construction’s recent work includes large-scale projects, like new high schools in Ames and Cedar Falls. The company is celebrating 90 years of business in 2024.
For more information, visit the Story Construction website.
