Versacon, Inc.

Versacon, Inc., a self-certified small disadvantaged business headquartered in Minneapolis, Minnesota, delivers construction, renovation, and facility repair services to federal agencies as a prime contractor across a $480.1 million combined potential value portfolio spanning 203 awards since 2008. Versacon competes predominantly under total small business set-asides (the majority of recent prime awards carry this designation) and holds two substantial indefinite delivery contracts with the General Services Administration Region 5 ($50 million ceiling, awarded September 2024) and the U.S. Air National Guard ($49 million ceiling, awarded February 2023).

Versacon's capability portfolio centers on interior and exterior building renovations, HVAC replacements, plumbing and electrical work, flooring installations, window replacements, fire suppression systems, and facility modernization at federal buildings, courthouses, and military installations across the Midwest. The company's primary NAICS classification is 236220 (Commercial and Institutional Building Construction), which accounts for 172 of its 203 awards. Representative prime work includes a $3.94 million Department of State passport office renovation at the Minneapolis Federal Building (comprehensive scope encompassing demountable partitions, ceramic tiling, plumbing, fire suppression, HVAC replacement, flooring, historic plaster treatment, lead and asbestos abatement, and finish work, awarded March 2022 under total small business set-aside with ultimate completion December 2025); a $1.40 million Air National Guard window replacement delivery order at Fort Snelling, Minnesota (awarded November 2025, no set-aside used); and a $1.6 million Immigration and Customs Enforcement construction delivery order at the Bishop Henry Whipple Federal Building, Fort Snelling, under the GSA Region 5 Regional Construction IDIQ (awarded August 2025, total small business set-aside).

Customer concentration is pronounced. The top five funding agencies account for 82% of awards by count and 93% by potential value. The Department of Veterans Affairs Veterans Health Administration Veterans Integrated Service Network 23 dominates both measures at 92 awards ($216.4 million combined potential value), followed by the General Services Administration Public Buildings Service Region 5 (29 awards, $133.8 million) and the Department of the Air Force Air National Guard (34 awards, $80 million). The Administrative Office of the U.S. Courts, Department of Veterans Affairs Headquarters, and the Department of State Bureau of Consular Affairs round out the customer set. The two rankings diverge notably: GSA Region 5's dollar share substantially exceeds its award-count share, driven by the anchor of the $50 million IDIQ ceiling, while the VA's dominance is balanced across volume and dollars. Versacon also places work with the Department of Justice, Department of State, U.S. Secret Service, Department of the Army Corps of Engineers, and multiple other civilian agencies.

Versacon's vehicle position centers on three standing IDIQs: the GSA Region 5 Regional Construction IDIQ (multiple-award, $50 million ceiling, total small business set-aside, performance across Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin); the Air National Guard Minnesota Multiple Award Task Order Contract (multiple-award, $49 million ceiling, small business set-aside, performance statewide in Minnesota through February 2028); and the legacy Repair and Alterations MI-MN-WI 2019 IDIQ (cited in multiple award summaries, now superseded by the newer GSA R5 contract). The top parent vehicles by task-order count are the VISN 23 Construction MATOC 2014–2018 (30 task orders, $25.8 million combined potential value), Indefinite Delivery Contract GS05P13SED0023 (22 task orders, $1.3 million), and Indefinite Delivery Contract W912LM16D0004 (15 task orders, $5.6 million).

Activity has contracted sharply in recent years. Awards per year declined from ten in both 2022 and 2023 to four in 2024, seven in 2025, and one in 2026 (as of August 28, 2026). Combined potential value of awards reaching ultimate completion within the next twenty-four months is modest—$3.5 million across four awards—presenting limited near-term recompete exposure.

On federal service contracts captured in the Service Contract Inventory (SCI), Versacon reported $25 million in invoiced labor across fiscal years 2022–2025, with the trajectory declining sharply: FY2022 invoiced $13.7 million, FY2023 dropped to $7.7 million, FY2024 fell to $3.3 million, and FY2025 invoiced $211 thousand. SCI-reported FTE headcount followed: 5.6 FTEs in FY2022, 3.9 in FY2023, 2.0 in FY2024, and 0.5 in FY2025. Government-paid hourly rates on SCI-reportable prime contracts show median pricing around $303.14 per hour, with senior labor reaching $1,430.33 per hour at the 90th percentile and lower-tier labor near $18.92 per hour. Across SCI-reportable prime contracts, an average of 43 percent of contractor hours were performed by subcontractors; Versacon named 86 distinct subcontractors across its prime SCI contracts. The Department of State passport office renovation demonstrates Versacon's sub-engagement pattern: major subcontractors included Timco Manufactured Construction (demountable partitions), Cool Air Mechanical (plumbing), and a multi-vendor team for fire suppression, electrical, flooring, abatement, and finish work. This signals that Versacon operates as a general contractor managing and coordinating specialized trade subs rather than performing the full scope directly.

Versacon operates exclusively as a prime contractor (100% of awards in the source portfolio are prime awards; zero sub awards are present). The company's growth trajectory peaked in the mid-2010s under VA VISN 23 contracts and has contracted substantially since 2023, suggesting either portfolio maturation, recompete losses, or shift toward delivery orders under existing IDIQs that fall below the SCI threshold or are not yet awarded.

Design Build, Earthwork, Utility, Site Grading, River Embankment, Site Development, Demolition, Tenant Improvements, Hospital Construction, Emergency Repair & General Construction