McCarthy Building Companies — Key Facts
| Founded | 1864 |
| Founder | Timothy McCarthy |
| Headquarters | St. Louis, Missouri, USA |
| Ownership | 100% Employee-Owned |
| Annual Revenue | ~$6+ billion (as of 2023) |
| Employees | ~5,000+ |
| Type | Private, Employee-Owned |
McCarthy Building Companies is one of the oldest and largest privately held construction firms in the United States. Founded in 1864, the company has grown from a regional contractor into a national construction powerhouse with offices across the country and expertise spanning healthcare, education, water, solar, and commercial construction.
History and Background
McCarthy’s story begins in 1864 when Timothy McCarthy established a construction business in St. Louis, Missouri. Over the following century, the company grew steadily through family ownership, taking on increasingly large and complex projects. A pivotal turning point came in 1978 when the company transitioned to a 100% employee-ownership model, giving all employees a stake in the business through an Employee Stock Ownership Plan (ESOP)-style structure. This shift fundamentally changed the company’s culture and long-term stability.
Who Owns McCarthy Building Companies?
McCarthy Building Companies is 100% employee-owned. There is no single majority owner or outside shareholder controlling the company. Every eligible employee owns a stake in the business, aligning the interests of the workforce with the company’s long-term success. The McCarthy family no longer holds a controlling interest following the transition to employee ownership. The company is led by its executive leadership team, with a board of directors overseeing governance.
Operations and Sectors
McCarthy operates across multiple construction sectors including healthcare facilities, higher education campuses, K-12 schools, water and wastewater infrastructure, renewable energy (particularly solar), and commercial/mixed-use development. The company has completed billions of dollars in construction projects and consistently ranks among the top general contractors in the Engineering News-Record (ENR) list of top US contractors.