M&A Deal Summary

Granite Construction Acquires Layne Christensen

On June 14, 2018, Granite Construction acquired environmental company Layne Christensen for 536M USD

Acquisition Highlights
  • This is Granite Construction’s 1st transaction in the Environmental sector.
  • This is Granite Construction’s largest (disclosed) transaction.
  • This is Granite Construction’s 3rd transaction in the United States.
  • This is Granite Construction’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-06-14
Target Layne Christensen
Sector Environmental
Buyer(s) Granite Construction
Deal Type Add-on Acquisition
Deal Value 536M USD
Advisor(s) Nomura Greentech (Financial)
Latham & Watkins
Stinson LLP (Legal)

Target

Layne Christensen

Woodlands, Texas, United States
website
Layne Christensen Co. is water management, construction, and drilling company, providing solutions for water, mineral and energy resources. Layne Christensen was founded in 1981 and is based in Woodlands, Texas.

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Buyer(S) 1

Buyer

Granite Construction

Watsonville, California, United States

website

Category Company
Founded 1922
Sector Construction
Employees2,800
Revenue 3.3B USD (2022)
DESCRIPTION
Entrance to Granite Construction's corporate headquarters in Watsonville, California.
Entrance to Granite Construction's corporate headquarters in Watsonville, California.

Granite Construction is a heavy civil contracting and construction materials production company. Granite operates across the US, serving both public and private sector clients. Within the public sector, Granite primarily concentrates on heavy-civil infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, trenchless and underground utilities, power-related facilities, utilities, tunnels, dams and other infrastructure-related projects. Within the private sector, Granite performs site preparation and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities, as well as provide construction management professional services. Granite Construction was founded in 1922 and is based in Watsonville, California.

DEAL STATS #
Overall 4 of 6
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Texas) 1 of 1
Country (United States) 3 of 5
Year (2018) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 LiquiForce

Kingsville, Ontario, Canada

LiquiForce is a provider of an underground contracting services including lateral liner rehabilitation, mainline Cured-in-Place Pipe (CIPP), project management, manhole rehabilitation, and mainline point repairs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-11 Layne Water Midstream Holdings

The Woodlands, Texas, United States

Layne Water Midstream is a full cycle water midstream business providing upstream oil and gas companies with water sourcing, disposal and recycling infrastructure and services in the Delaware and Midland Basins. LWM operates significant source water, water transportation and produced water management infrastructure and is committed to further growth to support its upstream customers in the Delaware and Midland Basins. Layne Water Midstream Holdings is based in The Woodlands, Texas.

Sell -
Mergr

Product

Company

Legal