Construction M&A » By The Online Investor Staff, updated Mon., Apr. 12, 6:28 PM
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 Construction is a construction company. Co. operates through a variety of subsidiaries within three operating groups focusing on heavy civil, specialty services, and residential projects in the U.S. Heavy civil includes infrastructure and rehabilitation projects for highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems. Specialty services projects include construction site excavation and drainage, drilling and blasting for excavation, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family homes.
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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)
Analysts' Target Price: STRL Stock Forecast Based on Zacks ABR data; powered by Xignite |
