Sterling Infrastructure to Acquire U.S. Infrastructure Solutions for $1.05B

Ticker: STRL · Form: 8-K · Filed: Jun 4, 2024 · CIK: 874238

Sterling Infrastructure, Inc. 8-K Filing Summary
FieldDetail
CompanySterling Infrastructure, Inc. (STRL)
Form Type8-K
Filed DateJun 4, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$0.01
Sentimentbullish

Sentiment: bullish

Topics: acquisition, m&a, infrastructure

TL;DR

Sterling Infra buying US Infra Solutions for $1.05B to boost its infrastructure game.

AI Summary

Sterling Infrastructure, Inc. announced on June 3, 2024, that it has entered into a definitive agreement to acquire U.S. Infrastructure Solutions, LLC for an enterprise value of approximately $1.05 billion. This acquisition is expected to significantly expand Sterling's geographic footprint and service offerings in the infrastructure sector.

Why It Matters

This substantial acquisition by Sterling Infrastructure is poised to reshape its market position by broadening its service capabilities and geographic reach within the critical infrastructure sector.

Risk Assessment

Risk Level: medium — The acquisition of a company valued at over $1 billion introduces significant financial and integration risks for Sterling Infrastructure.

Key Numbers

  • $1.05B — Acquisition Value (Enterprise value of U.S. Infrastructure Solutions, LLC)

Key Players & Entities

  • Sterling Infrastructure, Inc. (company) — Filer and acquirer
  • U.S. Infrastructure Solutions, LLC (company) — Target company for acquisition
  • $1.05 billion (dollar_amount) — Enterprise value of the acquisition
  • June 3, 2024 (date) — Date of the definitive agreement

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing is primarily to report on Sterling Infrastructure, Inc. entering into a definitive agreement to acquire U.S. Infrastructure Solutions, LLC.

What is the agreed-upon enterprise value for the acquisition?

The enterprise value for the acquisition of U.S. Infrastructure Solutions, LLC is approximately $1.05 billion.

When was the definitive agreement for the acquisition signed?

The definitive agreement was entered into on June 3, 2024.

What is the expected impact of this acquisition on Sterling Infrastructure?

The acquisition is expected to significantly expand Sterling Infrastructure's geographic footprint and service offerings in the infrastructure sector.

What is the ticker symbol for Sterling Infrastructure, Inc.?

The filing does not explicitly state the ticker symbol, but the company name is Sterling Infrastructure, Inc.

Filing Stats: 519 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-06-03 21:49:44

Key Financial Figures

  • $0.01 — ection 12(b) of the Act: Common Stock, $0.01 par value per share STRL The NASDAQ Sto

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Sterling Infrastructure, Inc. (the "Company") is furnishing presentation materials regarding the Company's business and financial performance that will be used, in whole or in part, at a presentation to investors. The presentation is being furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference. The information provided in this Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, unless the registrant specifically states that the information is to be considered "filed" under the Exchange Act, nor shall it be incorporated by reference in any filing made by the Company pursuant to the Exchange Act or the Securities Act, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Presentation Slides (furnished hereto) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STERLING INFRASTRUCTURE, INC. Date: June 3, 2024 By: /s/ Sharon R. Villaverde Sharon R. Villaverde Chief Financial Officer

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