Sterling Infrastructure (STRL) said Tuesday it completed the acquisition of Stone Ridge Contracting, a site development contractor, expanding its E-Infrastructure business into the Pacific Northwest.
The company did not disclose the purchase price but said it is a combination of cash and Sterling stock and is within the company's "typical range for site development assets."
The agreement also includes a contingent payment tied to EBITDA performance through Dec. 31, 2031, according to the company.
Sterling said Stone Ridge will become part of its E-Infrastructure Solutions segment and will serve markets including data centers, mining, and industrial projects across Idaho, Oregon, North Dakota, Washington, and Texas.
The company said Stone Ridge is expected to generate 2026 revenue of $180 million to $200 million with earnings before interest, taxes, depreciation, and amortization margins in the mid-teens.
Sterling said it plans to update its 2026 financial guidance to reflect Stone Ridge's partial-year contribution when it reports Q2 results.
Price: $899.74, Change: $+7.88, Percent Change: +0.88%