Add-on Acquisition • Environmental

Granite Construction Acquires Layne Christensen Co.

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

Acquisition Context
  • 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.

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M&A Deal Summary

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

Target Company

Layne Christensen Co.

Woodlands, Texas, United States
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 Overview 1

Buyer

Granite Construction

Watsonville, California, United States

Category Company
Founded 1922
Sector Construction
Employees2,300
Revenue 4.0B USD (2024)
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 Construction was founded in 1922 and is based in Watsonville, California.


Deal Context for Buyer #
Overall 4 of 10
Sector: Environmental 1 of 1
Type: Add-on Acquisition 3 of 9
State: Texas 1 of 1
Country: United States 3 of 9
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

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 is based in The Woodlands, Texas.

Sell -