Sterling Infrastructure, Inc. (STRL) announced it has closed on the acquisition of Stone Ridge Contracting, LLC, a site development contractor based in Pocatello, Idaho. This acquisition expands Sterling's E-Infrastructure Solutions segment and strengthens its geographic footprint in the Pacific Northwest and Texas, targeting high-growth sectors like data centers and mining.
Key Details
- Acquired Company: Stone Ridge Contracting, LLC, a contractor providing heavy civil, concrete, and construction management services.
- Financial Outlook: Stone Ridge is projected to generate $180 million to $200 million in revenue for the full year 2026, with expected EBITDA margins in the mid-teens.
- Transaction Terms: The purchase price consisted of a combination of cash and Sterling common stock. The deal includes a potential earn-out opportunity for Stone Ridge, contingent on meeting certain EBITDA targets by December 31, 2031.
- Integration: Stone Ridge will be integrated into Sterling's E-Infrastructure Solutions segment, and its current leadership team will remain in place.