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Granite acquires Lehman-Roberts and Memphis Stone & Gravel to expand home market strategy into Memphis Metropolitan and Northern Mississippi area

May 23, 2024about 1 year ago

Acquiring Company

Granite

Acquired Company

Lehman-Roberts and Memphis Stone & Gravel

WatsonvilleConstructionBuilding MaterialBuilding MaintenanceConstruction

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.

Company Information

Company

Granite

Location

Watsonville, California, United States

About

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

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M&A Insights

Based on deal data
Integration 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