New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 28, 2012
09:02 EDTGVAGranite Construction to acquire Kenny Construction for $130M
Granite Construction has signed a definitive agreement to acquire Kenny Construction Company, a national contractor and construction manager specializing in the power, tunnel, water and civil markets, for $130M. Kenny is a privately-owned, Northbrook, Illinois-based company with approximately 425 employees. Kenny’s revenues are projected to be $270M for 2012. Granite intends to finance the transaction through a combination of cash and available borrowings under its existing revolving credit facility. The transaction has been closed in escrow and will become effective on December 31. One-time costs related to the acquisition of Kenny are estimated to be approximately $5M and will be recorded in Q4. Including integration costs and the impact of intangible amortization, the transaction is expected to be break-even to Granite’s 2013 EPS. Excluding intangible asset amortization, the transaction would be immediately accretive
News For GVA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 10, 2014
17:43 EDTGVAGranite Construction: JV team awarded $109M design/build contract
Granite Construction announced that the joint-venture team comprised of Granite Construction Company and Pulice Construction has been awarded a $109M design/build contract by the Arizona Department of Transportation to reconstruct 19 miles of State Route 202 in Phoenix. Granite expects to book its 35% share, or approximately $38M, into backlog during the fourth quarter. Scope of the work includes capacity improvements across the 19-mile project by adding both general purpose lanes and high occupancy vehicle lanes in both directions. The work also includes the reconstruction of eight bridges, installation of concrete barrier, noise and retaining walls, improvements to the Freeway Management System as well as all drainage, signing and lighting modifications. Work is currently underway and is anticipated to be complete by December 2015

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use