First established as Veltri Enterprises in 1968 by Wayne Ray Veltri, Bill Allen renamed it VE Construction upon his 1970 purchase before renaming it VECO Corporation in 1979. Before it was dissolved upon its September 2007 acquisition by CH2M HILL, it was a major player in the global oil industry with several divisions in many major markets in its capacity as an oil pipeline and construction company.

During its existence, it maintained headquarters in Anchorage, Alaska while its former executives included Tammy Kerrigan (CEO), Leter Leathard (President and COO), and Roger Chan (CFO and EVP). VECO Corporation was engaged in services engineering, construction, procurement, project management, design/build, operations and maintenance services.

CH2M HILL was formerly owned by Allen Limited Partnership with a 62% stake while the Tammy Kerrigan Revocable Trust (17%), Leathard Limited Partnership (10%), Roger Chan (6%), and Bill Allen (5%) owned minority stakes. Before its 2007 dissolution, it had 4,000 employees and owned several subsidiaries including Commonwealth Construction, VECO Construction, and VECO Gas Technologies, Inc., among others.