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After working together on more than 20 projects with a total construction value of more than $100 million over the past decade, two longtime Portland contractors are making their relationship official.

Officials at the general contracting firm Walsh Construction and at the electrical contractor O’Neill Electric announced today the formation of a new company, O’Neill/Walsh Community Builders. While operations at both firms won’t change, the separate entity will go after its own projects.

Maurice Rahmning, president at O’Neill Electric, and Bob Walsh, president of Walsh Construction, will co-manage the new company.

The new company will be mutually beneficial to both existing companies. According to officials at both companies, Walsh will help O’Neill as it continues its expansion into general contracting work, while O’Neill will help Walsh increase its outreach capabilities and access to minority contractors.

Rahming said the decision to move forward with the concept is a direct reflection of the most recent city of Portland disparity study, which showed that the Portland area is losing minority and women-owned contracting firms. The new company will not only foster opportunities for these firms to work, but to grow, he said.

The existing companies will retain their individual, separate businesses and there will be no change to the operations, ownership or management of either company.