BRISTOL - Carpenter Companies has restructured their business model and services to focus on the real estate division, and is moving locations in Bristol come October.
“We got rid of our site work division and mechanical division,” said president of the company, George Edward Carpenter. He took ownership of the company a little over a week ago, when his father, George T. Carpenter, retired.
The real estate division handles full-service property management for residential, commercial and retail properties.
“We wanted to get rid of site work and mechanical because it is more cost effective,” he said. “What we are really doing is being like other contractors out there that sub out contracts a lot. It’s more cost effective to sub them out.”
Carpenter explained this means they will no longer do public works job for the state, “because there is too much overhead. We are really just focusing on real estate.”
“In two years, we are going to specialize in special trades because is it better business decision and model,” he said. “The company is not going to close, and will never.”
The company was established in 1924, by Spartacus “Spark” Carpenter, and it was incorporated in 1932. It has since been located in Bristol.
Carpenter said that the company is currently located at 67 Race St., and will relocate to 225 N. Main St. by mid-October. The company already owns the new location.
Lorenzo Burgio can be reached at email@example.com or at 860-584-0501 x5088.