Construction M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:23 AM
Recent mergers and acquisitions in the Construction M&A category.
| This Slide: #84 of 100 |
Slide #84. Sterling Construction Company, Inc. — Ralph L. Wadsworth Subsidiary
Acquirer:
Sterling Construction Company, Inc. (NASDAQ:STRL)
Acquiree:
Ralph L. Wadsworth Subsidiary
Details:
Sterling Construction Company, Inc. announced that on December 31, 2012 it made an early exercise of its option under a December 2009 Purchase Agreement ("the 2009 Agreement") and purchased the remaining 20% membership interest in Ralph L. Wadsworth Construction Company, LLC ("RLW") that was previously held by RLW's executive management. Sterling further retained the services of RLW's CEO, President and Vice President of Business Development, Kip, Con and Tod Wadsworth, respectively, under new employment agreements.
Sterling Infrastructure operates construction business focusing on Transportation, E-Infrastructure and Building Solutions segments. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. E-Infrastructure Solutions projects develop large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and others. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 24th percentile
(ranked lower than approx. 76% of all stocks covered)
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