Great Lakes Dredge acquires Terra Contracting for approximately $20M Great Lakes Dredge & Dock announced it has acquired the assets of Terra Contracting for approximately $20M. Terra’s remediation, maintenance/repair, abatement and emergency response services provide corporate and governmental customers with one of the industry’s broadest arrays of project-critical environmental solutions. Seller proceeds will be used to pay down debt and provide a return of equity to ownership. Terra is expected to generate approximately $45M of service revenue with 15% EBITDA margins in 2013, while also generating approximately $20M of pass through transportation and disposal revenue. Terra will add approximately $20M to Great Lakes’ year-end 2012 backlog excluding project option opportunities.
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