TURNER – One of the area’s longtime construction companies has a new co-owner, but everything will be “business as usual.”

“Not even the name changes,” said Clay McLafferty, who has been with K&K Excavation for 18 years.

McLafferty’s former partner, Kurt Youland, sold his interests in the 25-year-old business to developer George Schott. The deal, which had been in the works for months, was closed July 31.

“It just made good business sense,” said Schott of his decision to buy into K&K. The company has done all the site prep work on Schott’s retail projects and he has several more parcels he hopes to develop.

Neither partner disclosed the purchase price. A $7.7 million finance agreement between Schott and Youland is recorded with the Androscoggin Registry of Deeds

The deal included property held by K&K in Lewiston, Auburn, Turner and Leeds, including its gravel pits and Route 4 headquarters. It also included Technical Construction Inc., a subsidiary that specializes in bridge work and employs 45 people.

Youland will continue with KRY Inc., the real estate and land development division of the excavation business. That company oversees Granite Mill Estates on Hotel Road in Auburn and Bear Pond Village condominiums on Route 219 in Turner.

McLafferty said he expects there will be no immediate changes at K&K, which specializes in commercial and residential site work. He said much of the company’s success can be attributed to its staff of 98, which won’t change.

“A large part of that is due to quality employees,” he said. “A big part of that success.”

A portion of the K&K property sits on Gracelawn Road, near where Schott is developing several retail parcels. He said that land wasn’t a factor in his decision.

“Because of its proximity to the Lake Auburn watershed, nothing can be done with it,” he said.

He was pleased the sale finally concluded, a process that took him through three incorporations. The deal involved more than seven separate parcels of land, dozens of pieces of construction equipment and legal agreements attesting to business operations such as waste disposal and employee benefits. The name of the final corporate entity – Get Er Done LLC – reflected his relief.

“It took a long time to get this one closed,” he said.