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January 3, 2013
08:47 EDTSTRLSterling Construction acquires remaining interest in construction subsidiary
Sterling Construction made an early exercise of its option under a December 2009 Purchase Agreement on December 31, 2012 and purchased the remaining 20% membership interest in Ralph L. Wadsworth Construction Company that was previously held by RLW’s executive management. Sterling further retained the services of RLW’s CEO, President and Vice President of Business Development. Total consideration of $23.1M was funded by drawing down on Sterling’s line of credit. Sterling intends to repay the borrowed funds by liquidating some of its short-term investments.
News For STRL From The Last 14 Days
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April 9, 2015
16:11 EDTSTRLSterling Construction selected as subcontractor for Denver bridge project
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April 8, 2015
16:18 EDTSTRLSterling Construction affiliate is apparent low bidder on $42M Nevada project
Sterling Construction announced that its affiliate, Road & Highway Builders, was apparent low bidder on a $42.2M Nevada Department of Transportation project to extend the Carson City Freeway from Fairview Drive in Southeast Carson City to US 50 West. The project, which will entail concrete paving, asphalt paving, installation of four miles of pipe, 300,000 tons of aggregate base, three miles of cast in place sound walls and over 1M cubic yards of excavation, is expected to begin in June of 2015 and be completed in late 2016.

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