Ninteman Construction Co. of San Diego is...

Ninteman Construction Co. of San Diego is to be acquired in a stock swap by general contractor Sundt Corp. of Phoenix, according to a merger agreement signed by both firms. The dollar value of the stock swap was not disclosed.

Ninteman Construction, whose principal shareholder is president Dean Ninteman, was founded in Riverside in 1947 but was moved to San Diego in 1955 after the company received contracts to build the gymnasium, law school, seminary and other buildings at the University of San Diego.

Ninteman said none of the company’s 100 employees will lose a job because of the merger. Ninteman’s current works in progress are valued at $65 million. The company, based on Morena Boulevard, has built more than 2,200 structures in the San Diego area.

Sundt Corp., which has projects under way in seven states and the Philippines, booked construction volume of $340 million last year, making it the nation’s 70th largest contractor. The acquisition was seen by Sundt as a means of entering the San Diego market, Ninteman said.