Industries / Construction

Built for those who build

Construction is one of the most financially complex industries in business. Project-driven cash flow, WIP accounting, bonding requirements, labor volatility, multi-entity structures, succession — we are equipped to help. hfco works alongside contractors, subcontractors, specialty trades, and builders managing compliance, guiding growth, protecting margins, and helping firms, both privately-held and family-owned, transition to the next generation with confidence and clarity.

Industry Profile: Construction

We know the daily realities of construction firms, having worked side by side through these challenges for decades.

Cash flow volatility and payment delays

Project-driven businesses live and die by timing. When payments lag, payroll still does not. Managing WIP, draw schedules, and cash flow forecasting is a constant discipline, not a once-a-year exercise.

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Job costing and WIP accuracy

Lenders and bonding companies read your WIP reports closely. Inaccurate job costing does not just affect your financials. It affects your bonding capacity, your bank relationships, and your ability to bid the next job.

Explore Accounting & Assurance

Rising insurance, bonding, and risk exposure

Insurance and bonding premiums keep climbing. Jury verdicts, rising liability, and tightening surety markets mean risk management is no longer just an operational issue. It is a financial strategy.

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Tax exposure across complex contractor structures

Multi-entity ownership, equipment purchases, subcontractor payments, multi-state operations, and revenue recognition rules that differ from standard accounting all create a tax burden that general tax advisors often underestimate. Proactive tax planning is what separates contractors who protect their margins from those who leave money on the table year after year.

Explore Tax Planning & Compliance

Labor shortages and workforce pressure

Across union and non-union shops alike, the industry needs hundreds of thousands more skilled workers. Crews are stretched, schedules slip, and the cost of turnover compounds. The financial and HR planning behind workforce stability matters more than ever.

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Succession and legacy transition

Many construction firms in NJ and PA are family-owned. Passing the business to the next generation, while preserving family harmony, bonding continuity, and leadership stability, is among the most complex things a contractor will ever navigate. And most wait too long to start.

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Construction-specific expertise — from the job site to the boardroom

hfco brings deep construction accounting knowledge and a full suite of advisory services to every engagement.

0 + Years

Advising construction firms in NJ, PA, DE

Multi-Generational

Client relationships in construction

CFMA

Construction Financial Management Association member

BIA

Building Industry Association of Philadelphia member

Client Story

What it looks like when a construction firm grows with the right advisor behind them.

A fourth-generation family business, had built a strong reputation, a talented team, and a clear vision for what came next. What they needed was a growth capital partner who shared their values and could work alongside a union shop. hfco served as their end-to-end M&A advisor, managing partner evaluation, reverse due diligence, and deal structuring from strategy through close. The result was a partnership that secured the capital the company needed to expand while preserving the leadership, culture, and workforce that defined the business.

What construction clients say

Trusted by contractors. Proven in the field.

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“When we sat down with three different firms, the question was: what's your experience in construction? hfco eclipsed everybody. That's how they made us feel very comfortable."

Joe McColgan — Partner,

Wescott Electric Company

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“What sets hfco apart is the depth of the people that work there. They do so much now above and beyond what I would think an accounting firm would do.”

Toby Chrostowski — President

Jottan Commercial Roofing

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“!I don't see my involvement with accounting or consulting as transactional — I see it as partnering. It really is a good group. It really is a sincere group. And I think that's important.”

Mike Rosen — Chairman

Advisory Board, Commercial Cleaning Corp

Common Questions

What construction firms ask us most.

Does hfco specialize in construction accounting?

Yes. Construction is one of hfco’s core industry specializations. We have served contractors, subcontractors, specialty trades, and builders across New Jersey and Pennsylvania for more than 50 years. Our team understands the financial complexity unique to project-driven businesses — WIP accounting, job costing, bonding requirements, and construction-specific tax strategy.

Can you help with WIP reporting and job costing?

Absolutely. WIP evaluations and job cost accounting are among our most frequently requested construction services. We help contractors establish systems that produce accurate, timely reporting — the kind that lenders, bonding companies, and project owners trust. We also help evaluate and improve existing systems when reporting is creating problems with financing or bonding capacity.

Do you work with family-owned construction businesses?

Yes — the majority of our construction clients are family-owned or multi-generational businesses. We understand the unique complexity of balancing family dynamics with business continuity. We have deep experience in succession planning, ownership transitions, and legacy protection for construction firms, including multi-entity structures, valuation, and leadership transition planning.

Can you help with bonding and banking relationships?

Yes. We work with construction firms on bonding readiness, prequalification requirements, and financial statement presentation to support stronger relationships with sureties and lenders. We also help evaluate and negotiate financing as the business evolves and capital needs change.

Where does hfco serve construction clients?

From our offices in Maple Shade, NJ, we serve contractors and builders primarily across New Jersey and Pennsylvania — including Philadelphia, South Jersey, and the broader Mid-Atlantic region. Many of our construction engagements extend across state lines as clients grow into multi-state operations.

Is an initial consultation free?

Yes, your initial consultation is complimentary. If you’re evaluating whether hfco is the right fit for your construction business, the best starting point is a conversation. We’ll be straightforward about whether and how we can help.

Your construction advisors

Construction Advisors

Dave Gill, Jr.

CPA, Partner

Erica Peterson