Maple-Leaf Construction Co. in Nashua recorded its most profitable year ever last year but will close next year after more than a half-century in business.
“It’s been a great 53 years; it’s just a different market,” said President Loren Dubois, whose father co-founded the company in 1964.
Its projects included East Side Plaza in Manchester, the state liquor store at the Manchester-Boston Regional Airport as well as the Litchfield Middle School and Toyota of Nashua.
Dubois, who acquired full ownership in 1999, said he studied a possible sale and determined he would need to grow his business to compete in the future. There also wasn’t an heir apparent to take over the construction management firm, which banked about $15 million in yearly revenues.
Work on current projects is predicted to wrap up in late January and the company will wind down during the first few months of 2018. Dubois said he wanted to give his 11 employees time to find new work, and he plans to offer close-out bonuses.
“This is actually a very good thing,” said Dubois, 54. “It’s an informed decision. Each business reaches that point: Either you’re going to the next level or you’re not.”