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Stock impact report

Sterling Construction Completes Acquisition of Plateau Excavation, Inc. and Enters Into New Credit Agreement

Sterling Infrastructure, Inc. (STRL) 
Last sterling infrastructure, inc. earnings: 3/2 04:24 pm Check Earnings Report
US:NASDAQ Investor Relations: strlco.com/investor-relations
Company Research Source: Business Wire
THE WOODLANDS, Texas--(BUSINESS WIRE)--Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that it has completed the previously announced acquisition of Plateau Excavation, Inc. and its related entities (collectively “Plateau”), a leading specialty contractor based in Austell, GA, for $400 million; $375 million in cash and $25 million in Sterling Common Stock and seller notes. The Company also announced that it has replaced their existing $85 million term loan with a new $475 million Credit Agreement led by BMO Capital Markets Corp., as Joint Lead Arranger and Joint Book Runner, and BMO Harris Bank N.A., as Administrative Agent.Plateau serves large, blue-chip customers in the e-commerce, data center, distribution center, warehousing, and energy sectors. They are a leading provider of large-scale site infrastructure improvement contracting services and are the largest excavating contractor in the Southeastern U.S. Plateau has approxima Show less Read more
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