Sterling Infrastructure, Inc. to Acquire Substantially All Assets of CEC Facilities Group, LLC

Details

(STRL) entered into an Asset Purchase Agreement to acquire substantially all assets of CEC Facilities Group, LLC for an aggregate consideration of $505,000,000. The transaction includes $450,000,000 in cash and 285,275 shares of STRL common stock valued at $55,000,000. The shares will be subject to lock-up agreements for 12 and 18 months. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2025.

Items reported

Exhibits (1)

About Sterling Infrastructure Inc.

Sterling Infrastructure Inc. is a diversified infrastructure services company primarily focused on heavy civil engineering and construction services throughout the United States. This enterprise specializes in the development of transportation and water infrastructure, site development, and remediating hazardous waste sites. With operations encompassing key areas such as highways, bridges, railways, airports, and water containment and treatment facilities, Sterling Infrastructure Inc. plays a crucial role in bolstering the nation's foundational framework. The company's projects often involve collaborations with public sector entities, reflecting its significance in executing large-scale initiatives vital to urban development and environmental sustainability. As a company listed on a major stock exchange, Sterling Infrastructure Inc. is pivotal within the construction and engineering sectors, addressing both commercial and government needs and contributing substantially to economic growth and regional connectivity.