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Sterling Acquires a Soil Stabilization Business in the Southeast.

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Vincent

MANews-(C)2009-2021

Texas-based Sterling Construction Company, Inc. (NASDAQ: STRL) has acquired Kimes and Stone, the company said.

Kimes provides a diversified services offering of soil stabilization for site development on e-commerce projects such as large fulfillment and distribution centers and data centers, as well as soil stabilization for roadways and manufacturing plant construction.

The transaction includes a fleet of soil stabilization equipment and working capital, and provides an experienced and highly effective management team and workforce.

Additionally, Sterling's site development business has been Kimes' major customer for the last several years.

An all-cash purchase price of USD 7.6m which equates to a purchase price multiple of 3 to 4 times EBITDA; provides vertical integration for our specialty infrastructure services adding capacity, assets, and people; includes a range of high-quality private and public customers in rapidly growing end markets; and adds to our geographic footprint throughout the Southeast region.

Sterling Construction...

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