$22M Sarasota contractor acquires construction firm

One of the top contractors in the region has acquired another area firm. Stellar Development, which is headquartered in Sarasota, made the acquisition of CGC Group to expand its footprint and services, according to a statement.

"This acquisition represents a strategic step in our growth strategy, allowing us to expand our service offerings and market reach," Stellar Development President Maurice Opstal says in the statement.

Stellar Development ranked No. 48 on the Business Observer’s 2023 list of the top contractors in the region. A commercial and residential general contractor, the company specializes in commercial/retail, hospitality, institutional/governmental, multi-family, religious and single-family projects, and it reported $22 million in revenue in 2022.