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Granville W. Holman, Kaiser, Herbert F. Wulfekamp

Active -1988

Firm Notes

Kaiser Engineers Group, Incorporated, a construction, engineering and design firm, operated in Oakland, CA, in 1973. Herbert F. Wulfekamp was appointed Manager of the Architectural Department, Commercial and Institutional Division of Kaiser Engineers in early 1973. (See "Notices," Progressive Architecture, vol. LIV, no. 2, 02/1973, p. 132.)

Kaiser performed engineering work in Australia under the name of its subsidiary, Elders Group IXL Limited.

On 06/17/1988, Kaiser President Granville W. Holman announced that the firm had agreed to a buyout by the Fairfax, VA-based firm, American Capital and Research Corporation, for about $50 million. The Washington Post reported of this acquisition: "Kaiser, which had sales last year of $550 million, participated in building such famous projects as the Hoover Dam and the San Francisco Bridge. Both Kaiser Engineers and ACR are privately held companies. Elders, a partner in the deal, will retain control of Kaiser Engineers' Australian and Asian operations, while ACR will take control of the rest of the engineering firm. Kaiser Engineers, which has experienced financial difficulties in recent years, will benefit from the money and contracts that ACR and its subsidiaries will bring to the merger. For ACR, the acquisition of Kaiser will provide additional engineering and manpower expertise. Kaiser Engineers, established in 1814, has expertise in solving problems involving hazardous and nuclear wastes." (See Washington, "American Capital Acquires Kaiser Engineers Group," published 06/17/1988, accessed 11/04/2019.) The American Capital and Research Corporation was formed in 02/1988.

About eight months after this announced purchase, American Capital and Research situated Kaiser as a subsidiary under its other acquisition ICF, Incorporated. The Los Angeles Times stated on 03/02/1989: "Kaiser Engineers Group, one of the largest engineering firms in the West, is being merged with another subsidiary of its corporate parent, American Capital & Research, the holding company announced Wednesday. Kaiser will combine with ICF Inc., a Fairfax, Va., consulting firm, and the resulting company will be called ICF Kaiser Engineers. Its headquarters will be in Oakland, where Kaiser is now based. American Capital & Research, also of Fairfax, acquired financially troubled Kaiser last June from a consortium of banks led by Bank of America. Kaiser’s Australian and Asian operations were then spun off. ICF Kaiser Engineers will be a subsidiary of another new firm, ICFcorp International, which is wholly owned by American Capital." (See Denise Gellene, Los Angeles, "Kaiser Engineers Merging With Unit of Its Virginia Parent Firm," published 03/02/1989, accessed 11/04/2019.) Before the merger, Kaiser had apparently been losing $1 million per month, but was earning that much by 03/1989.

In 1984, Kaiser Engineers Group erected the Raymond Kaiser Engineering Building at 1800 Harrison Street in Oakland, CA.

PCAD id: 2668