THE WOODLANDS, TEXAS: Sterling Infrastructure Inc. has acquired Concrete Construction Services of Arizona LLC and its affiliated firm at a buy order price of $22 million, consisting of a mixture of money and Sterling Infrastructure common stock.
Concrete Construction Services of Arizona (CCS) provides residential single-family home concrete foundations, together with the preparation, pouring and ending of post-tension concrete foundations in new housing subdivisions inside the Greater Phoenix area. The transaction provides an skilled and extremely efficient administration team and workforce.
“The addition of CCS to our Building Solutions segment permits us to expand our breadth of residential service choices to our key blue-chip customers in Arizona,” said Joe Cutillo, Sterling’s Chief Executive Officer.
“The inhabitants shifts inside the space have considerably elevated the demand for our residential services, and this tuck-in acquisition broadens our capacity. We welcome CCS to our team and believe they’re a tradition match with their strong entrepreneurial administration and solid competencies in concrete foundations.”
Sterling Infrastructure operates through a number of subsidiaries inside three segments specializing in E-Infrastructure, Transportation and Building Solutions inside the United States, primarily throughout the Southern, Northeastern, Mid-Atlantic and the Rocky Mountain States, and Hawaii, in addition to different areas with strategic construction opportunities.
E-Infrastructure Solutions projects develop advanced, large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and more.
Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems.
Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and different concrete work.