BNET Industries

Market Cap:$367.5M
Last Fiscal Year Sales:$586.8M
  • Public
Dow Jones Description

GLDD is the largest provider of dredging services in the US conducting business to maintain and deepen shipping channels, reclaim land from the ocean, and renourish storm damaged coastline.

President, Chief Executive Officer and Director
Douglas B. Mackie
Number of Employees 317
Contact Information

gldd.com

NAICS Code Industrial Building Construction: 236210

Recent Events

  • Worker Injured in Ladder Incident on Dredge Gets $1,222,491

    10/01/09 - Lawsuit Filed - View Story

  • BRIEF-Great Lakes Dredge and Dock declares dividend

    9/01/09 - Stock Split / Dividend - View Story

News & Analysis

great lakes dredge & dock corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
Douglas B. Mackie President, Chief Executive Officer and Director
David E. Simonelli Vice President, Chief Site Manager
Deborah A. Wensel CFO & Senior Vice President
John F. Karas Vice President & Chief Estimator
Kyle D. Johnson Vice Presidentchief Contract Manager
Richard M. Lowry COO & Executive Vice President
Steven W. Becker Vice Presidentplant Equipment and Chief Mechanical Engineer
Bill Hanson Vice President, US Business Dev
Bradley T.J. Hansen Vice President & Division Manager, Hydraulic
Christopher Gillespie Vice Presidentspecial Projects Manager
Hanson H. William Vice President, US Business Development
J. Christopher Gillespie Vice President & Manager, Spl Projects
John T. O'Brien Vice President & Division Manager, Middle East
Steven F. O'Hara Vice President & Division Manager, Clamshell
William F. Pagendarm Vice President & Division Manager
Jason Weiss Director
Nathan Leight Director
Thomas S. Souleles Director

Board of Directors

Name (plus bio) Position
Jonathan Berger Chairman
Bruce J. Biemeck Board of Directors
Douglas C. Grissom Board of Directors
Douglas S. Grissom Board of Directors
Peter Deutsch Board of Directors
Samuel M. Mencoff Board Director

Mr. Mackie has served as a member of our Board and as our President and Chief Executive Officer since 1995. He joined Great Lakes in 1978 as Corporate Counsel. In 1987, he was named Senior Vice President. Mr. Mackie earned a J.D. from Northern Illinois University and an MBA from the University of Chicago. He is a former President of the Dredging Contractors of America.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC President, Chief Executive Officer and Director Current
Great Lakes Dredge & Dock Co. LLC Corporate Counsel Current
Great Lakes Dredge & Dock Co. LLC Board of Directors Current
University of Chicago MBA Former

Mr. Simonelli was named Senior Vice President in February 2009. Mr. Simonelli is responsible for the Operations Support Group which includes Site Management, the Safety Health & Environmental Department, Field & Production Engineering and Risk Management. He was named a Vice President of the Company in 2002 and Special Projects Manager in 1996. He joined the Company in 1978 as a Project Engineer. Mr. Simonelli earned a BS in Civil and Environmental Engineering from the University of Rhode Island. He is a member of the Hydrographic Society, the American Society of Civil Engineers and the Western Dredging Association.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President, Chief Site Manager Current
American Society of Civil Engineers Board of Directors Current
The Hydrographic Society Board of Directors Current

Ms. Wensel has been the Vice President, Chief Financial Officer and Treasurer of the Company since April 1999 and was named Senior Vice President in 2002. Ms. Wensel joined the Company in 1987 as Accounting and Financial Reporting Supervisor. In 1989, she was named Controller and Chief Accounting Officer. She is the current Treasurer of the Dredging Contractors of America. Ms. Wensel is a Certified Public Accountant and also has a MBA from the University of Chicago.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC CFO & Senior Vice President Current
University of Chicago MBA Former

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President & Chief Estimator Current
Western Dredging Association Board of Directors Current

Mr. Johnson has been Vice President and Production Engineering/Special Projects Manager since 1997. Prior to joining the Company in 1983, he was a Project Manager with Healy Tibbits Builders. Mr. Johnson earned a BSE in Ocean Engineering from Purdue University and a graduate degree in Construction Engineering & Management from Stanford University. He is a member of the American Society of Civil Engineers.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice Presidentchief Contract Manager Current
American Society of Civil Engineers Board of Directors Current
Purdue University Bse In Ocean Engineering Former

Mr. Lowry has been the Executive Vice President and Chief Operating Officer of the Company since 1995. He joined the Company in 1978 as a Project Engineer and has since held positions of increasing responsibility in the engineering and operating areas of the Company. In 1990 he was named Senior Vice President and Chief Engineer. He is a member of the Society of American Military Engineers. Mr. Lowry received Bachelors Degree (Honors) in Civil Engineering from Brighton Polytechnic in England.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC COO & Executive Vice President Current

Mr. Becker has managed the Equipment Maintenance and Mechanical Engineering Departments since 1995. He joined the Company in 1984 as a Field Engineer and holds a Bachelors degree in Mechanical Engineering from the University of Illinois.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice Presidentplant Equipment and Chief Mechanical Engineer Current
Great Lakes Dredge & Dock Co. LLC Vice President, Plant Equipment Manager & Cme Current
University of Illinois Bachelors Degree In Mechanical Engineering Former

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President, US Business Dev Current
Great Lakes Dredge & Dock Co. LLC Manager, Marketing Former

Mr. Hansen has been a Vice President and Division Manager of the Company since 1994. He joined the Company in 1977 as an Area Engineer. He was named Vice President & General Superintendent of the Company in 1991. Mr. Hansen earned a BS in Civil Engineering from Louisiana State University. He is a member of the American Society of Civil Engineers.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President & Division Manager, Hydraulic Current
American Society of Civil Engineers Board of Directors Current
Louisiana State University BS In Civil Engineering Former

Mr. Gillespie was named Vice President and Special Projects Manager in 1997. He joined the Company in 1987 as a Project Engineer and previously served as a Commissioned Officer in the U.S. Army Corps of Engineers. Mr. Gillespie earned a BS in Civil Engineering from the U.S. Military Academy at West Point and a graduate degree in Environmental Engineering from the University of Tulane. He is a member of the Society of American Military Engineers.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice Presidentspecial Projects Manager Current
The Society of American Military Engineers Board of Directors Current
Engineers, Inc. Commissioned Officer Former

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President, US Business Development Current

Mr. Gillespie was named Vice President and Special Projects Manager in 1997. He joined the Company in 1987 as a Project Engineer and previously served as a Commissioned Officer in the U.S. Army Corps of Engineers. Mr. Gillespie earned a BS in Civil Engineering from the U.S. Military Academy at West Point and a graduate degree in Environmental Engineering from the University of Tulane. He is a member of the Society of American Military Engineers.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President & Manager, Spl Projects Current

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President & Division Manager, Middle East Current

Mr. O'Hara has been a Vice President and Division Manager of the Company since 1988. He joined the Company in 1978 as Cost Accountant. He is a member of the Society of American Military Engineers. Mr. O'Hara received a BS from the University of Illinois.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Vice President & Division Manager, Clamshell Current
The Society of American Military Engineers Board of Directors Current
University of Illinois BS Former

Organization Position Status
North American Trailing Co. Vice President Current
Great Lakes Dredge & Dock Co. LLC Vice President & Division Manager Current
Western Dredging Association Chairman Current
Western Dredging Association President Former
University of Chicago MBA Former

Organization Position Status
Navigant Capital Advisors, LLC Managing Director, National co-Leader Current
Navigant Consulting, Inc. Current
Great Lakes Dredge & Dock Co. LLC Chairman Current
Great Lakes Dredge & Dock Co. LLC Board of Directors Current
Navigant Capital Advisors, LLC President Former
Aldabra Board of Directors Former
Emory University M.B.A. Former

Mr. Biemeck became a director of the Company following the merger. Since April 1999, Mr. Biemeck has been a private real estate investor and developer and has acted as an independent consultant. From 1994 to April 1999, Mr. Biemeck was Senior Vice President, Chief Financial Officer and Treasurer of Great Lakes Dredge & Dock Corporation. Mr. Biemeck received a Bachelor of Science degree from St. Louis University and an M.B.A from the University of Chicago and is a Certified Public Accountant and member of the Financial Executives Institute.

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Board of Directors Current
Great Lakes Dredge & Dock Co. LLC Chief Financial Officer Former
Great Lakes Dredge & Dock Co. LLC Senior Vice President Former
University of Chicago M.B.A Former

Madison Dearborn Partners Douglas C. Grissom, Director - A.B., Amherst College; M.B.A., Harvard Graduate School of Business Administration. Prior to joining MDP, Mr. Grissom was with Bain Capital, Inc. in private equity, McKinsey & Company, Inc., and Goldman, Sachs & Co. Mr. Grissom concentrates on investments in the communications sector and currently serves on the Boards of Directors of Cbeyond Communications, LLC, Great Lakes Dredge & Dock Corporation, Intelsat Holdings Ltd., and the Childrens' Inner City Educational Fund.

Organization Position Status
CBeyond Communications, Inc. Director, Madison Dearborn Partners Current
Intelsat, Ltd. Board of Directors Current
Intelsat Holdings, Ltd. Board of Directors Current
Great Lakes Dredge & Dock Co. LLC Board of Directors Current
CBeyond Communications, Inc. Board of Directors Current
Bain Capital, LLC Former
Goldman, Sachs & Co. Former
McKinsey & Company, Inc. Former
McKinsey & Company, Inc. Former
Harvard Business School M.B.A Former
Amherst College A.B Former

Organization Position Status
Great Lakes Dredge & Dock Co. LLC Board of Directors Current

Organization Position Status
Boise Paper CEO and Secretary Current
Aldabra Acquisition Corporation. Terrapin Partners, LLC Chief Executive Officer, Secretary and Director Current
Terrapin Partners LLC Co-Founder Current
Boise Inc. Director Former
Equipois Inc Board of Directors Current
Aldabra Acquisition Corp Board of Directors Current
Great Lakes Dredge & Dock Co. LLC Director Current
Terrapin Partners LLC Managing Member Current
Aldabra Chief Executive Officer Former
The Paper Exchange CEO Former
Boise Inc. CEO & Secretary Former
Terrapin Partners LLC Partner Former
The Paper Exchange Executive Vice President Former
Booz Allen Hamilton, Inc. Associate Former
Aldabra Board of Directors Former
Harvard Law School Jd Degree Former
University of Michigan B.A. Former
Aldabra Acquisition Corp Member Former
American Classic Sanitation, Inc. Managing Member Former

Mr. Leight became a director of the Company following the merger. He was Aldabra's chairman of the board from its inception until completion of the merger. Mr. Leight is the co-founder and a managing member of Terrapin Partners LLC (including its affiliates), a co-founder and a managing member and the chief investment officer of Terrapin Asset Management, LLC (including its affiliates), and a co-founder and a managing member and the chief investment officer of TWF Management Company, LLC (including its affiliates). Terrapin Partners, established in August 1998, is a private investment management firm focusing on private equity investing. Terrapin Asset Management, established in March 2002, focuses on the management of multi-manager hedge fund portfolios and as of January I, 2007, managed, or provided sub-advisory services for, more than $450 million of assets. TWF Management Company, established in December 2004, focuses on the management of a water industry-focused hedge fund, and as of August l, 2006 managed approximately $50 million. Mr. Leight is currently Chairman of the Board of Aldabra 2 Acquisition Corp. From September 1998 to March 1999, Mr. Leight served as the interim chief executive officer of e-STEEL LLC, an industry-specific business-to-business software enterprise, and from January 2000 to May 2002, he served as interim chief executive officer of VastVideo, Inc., a provider of special interest video content and related technology to web sites and interactive television operators. Both e-STEEL and VastVideo were Terrapin portfolio companies. From February 1995 to August 1998, Mr. Leight was employed by Gabriel Capital LP, a hedge fund with assets exceeding $ 1 billion specializing in investing in bankruptcies, under-valued securities, emerging markets, and merger arbitrage, and from February 1995 to August 1997 he served as its chief investment officer. From December 1991 to February 1995, Mr. Leight served as a managing director of Dillon Read & Co., a private investment firm, where he oversaw the firm's proprietary trading department which invested primarily in risk arbitrage and bankruptcy/distressed companies. Mr. Leight received a B.A. from Harvard College (cum laude). Mr. Leight is the cousin of Jonathan W. Berger.

Organization Position Status
Terrapin Partners LLC Chief Investment Officer Current
Terrapin Partners LLC Co-Founder Current
TradeStation Group, Inc. Co-Founder Current
Aldabra Acquisition Corporation. Terrapin Partners, LLC Chairman Current
Boise Paper Chairman Current
Great Lakes Dredge & Dock Co. LLC Director Current
Boise Paper Holdings, L.L.C. Director Current
Terrapin Partners LLC Managing Member Current
Dillon Read Managing Director Former
Terrapin Partners LLC Partner Former
Oppenheimer & Co. Inc. Associate Former
Aldabra Acquisition Corp Chairman of the Board Former
Boise Inc. Director Former
Harvard College B.A. Former

Organization Position Status
Peterforflorida Current
Aldabra Acquisition Corp Board of Directors Current
Great Lakes Dredge & Dock Co. LLC Board of Directors Current
Aldabra Acquisition Corporation. Terrapin Partners, LLC Director Current
Aldabra Acquisition Corp Member Current
Bridgestone Corporation Former
Martha Stewart Living Omnimedia, Inc. Former
Enron Corp. Former
Florida House of Representatives Chairman Former
Aldabra Board of Directors Former
United States House of Representatives Board of Directors Former
Yale Law School J.D. Former
Swarthmore College B.S. Former
United States House of Representatives Member Former

Organization Position Status
Madison Dearborn Partners LLC Co-President Current
Packaging Corporation of America Vice President Current
Brown University Trustee Current
Brown University Board of Directors Current
Smurfit Kappa Group Board of Directors Current
Boise Cascade Holdings, L.L.C. Director Current
Great Lakes Dredge & Dock Co. LLC Board Director Current
Smurfit Kappa Group Board Director Current
Evanston Northwestern Healthcare Board Director Current
Packaging Corporation of America Director Current
First Chicago Venture Capital Vice President Former
The Dock, Inc. Former
Harvard Business School M.B.A Former
Brown University A.B Former

Thomas S. Souleles, Managing Director - A.B., Princeton University; J.D., Harvard Law School; M.B.A., Harvard Graduate School of Business Administration. Prior to joining MDP, Mr. Souleles was with Wasserstein Perella & Co., Inc. Mr. Souleles concentrates on investments in the basic industries sector and currently serves on the Boards of Directors of Forest Products Holdings, LLC (d.b.a. Boise Cascade), Great Lakes Dredge & Dock Corporation, Magellan GP, LLC, Magellan Midstream Holdings GP, LLC, Packaging Corporation of America, US Power Generating Company, and the Children's Memorial Medical Center; and the Board of Trustees of the National Multiple Sclerosis Society, Greater Illinois Chapter.

Organization Position Status
Madison Dearborn Partners LLC Managing Director Current
Packaging Corporation of America Assistant Secretary Current
The National Multiple Sclerosis Society Board of Directors Current
Magellan Midstream Partner, L.P Director Current
Great Lakes Dredge & Dock Co. LLC Director Current
Packaging Corporation of America Director Current
Madison Dearborn Partners LLC Board of Directors Current
Boise Cascade Holdings, L.L.C. Director Current
Smurfit Kappa Group Board of Directors Current
Magellan Midstream Holdings, L.P. Board of Directors Current
Smurfit Kappa Group Board Director Current
The Dock, Inc. Board of Directors Current
Boise Inc. Board of Directors Current
US Power Generating Company, LLC Board of Directors Current
Packaging Corporation of America Vice President Former
Madison Dearborn Partners LLC Equity Sponsor Former
The Dock, Inc. Former
Harvard Law School J.D Former
Harvard Business School M.B.A Former
Princeton University A.B Former
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GLDD $6.28 -0.08 (-1.26% )
Volume 177,271
Shares Outstanding 58.5M
Market Cap 367.5M
Year High 7.46
Year Low 1.78
Earnings Per Share 0.32
P/E Ratio 19.6250
Dividend 0.068
Yield 1.0828
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