Granite acquires Lehman-Roberts and Memphis Stone & Gravel to expand home market strategy into Memphis Metropolitan and Northern Mississippi area
May 23, 2024•about 1 year ago
Acquiring Company
Granite
Acquired Company
Lehman-Roberts and Memphis Stone & Gravel
Description
Granite (NYSE:GVA) expanded its home market strategy into the Memphis Metropolitan and Northern Mississippi area by acquiring Lehman-Roberts Company and Memphis Stone & Gravel Company. These acquisitions further strengthen Granite's position as a diversified construction and materials company, enabling it to capitalize on new contracts and enhance its presence in the construction and materials industry.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed