TERRE HAUTE, Ind. (WTWO/WAWV) — Hannig Construction, Inc., a regional construction company partially based in Terre Haute, Ind., has been purchased by Larry Yargus of Marshall, Ill. Yargus announced the purchase, which was completed on Aug. 11, on Thursday.
Yargus will immediately take over as Hannig Construction’s new CEO, according to a news release. He is the former owner and president of Yargus Manufacturing, Inc., a worldwide fertilizer handling company in his hometown of Marshall. In 2016, Yargus sold the company to AIG International.
“I’m extremely excited to have the opportunity to begin a new venture as the owner of Hannig Construction,” Yargus said. “The company is well known throughout the Midwest for major construction projects. We intend to continue and grow the high-level reputation that Hannig and its staff have earned over the past three decades.”
Hannig Construction, Inc. was first purchased by Bill Biddle from founder Shelton Hannig in 1988. After Biddle died, his son Troy became president and owner in July 2007.
“Well for one this company has a great reputation,” Yargus said. “They are already well established in this community.”
Hannig Construction has completed numerous commercial and industrial projects throughout the Midwest. Recently, the company general contracted the $50-million renovation of Hulman Center on Indiana State’s campus.
“While I am very proud of what we accomplished in building Hannig Construction to the status it holds today, it’s time for me to move on and spend more time with my family,” Troy Biddle said. “I feel Larry Yargus is the prefect leader to pass on the torch to ensure a bright future for Hannig, its staff, its vendors and especially its customers.”
Yargus will appoint Jack Acord as president of Hannig Construction, Inc. Acord has been in the construction business since 1968, and has previously worked with Yargus on a separate electric, HVAC and plumbing company in Marshall, Yargus said.
“It was a natural fit for me to bring Jack in,” he said. “He brings in so much knowledge and experience and it just made sense.”
Yargus said he is excited to continue the success of Hannig and what the future holds for the company.
“We may broaden our reach but for now we are focused on a smooth transition,” he said. “I am really looking forward to getting started.”