M&A Deal Summary

Granite Construction Acquires Lehman-Roberts

On December 5, 2023, Granite Construction acquired construction company Lehman-Roberts

Acquisition Highlights
  • This is Granite Construction’s 5th transaction in the Construction sector.
  • This is Granite Construction’s 5th transaction in the United States.
  • This is Granite Construction’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2023-12-05
Target Lehman-Roberts
Sector Construction
Buyer(s) Granite Construction
Deal Type Add-on Acquisition

Target

Lehman-Roberts

Memphis, Tennessee, United States
Lehman-Roberts is an asphalt paving and asphalt and aggregates producer and supplier. Lehman-Roberts was founded in 1939 and is based in Memphis, Tennessee.

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Buyer(S) 1

Buyer

Granite Construction

Watsonville, California, United States
Category Company
Founded 1922
Sector Construction
Employees2,100
Revenue 3.5B USD (2023)
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. 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 6 of 7
Sector (Construction) 5 of 6
Type (Add-on Acquisition) 5 of 6
State (Tennessee) 1 of 1
Country (United States) 5 of 6
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-03 Granite Construction - Inliner

Watsonville, California, United States

Granite Construction's Inliner is a vertically integrated provider of trenchless pipe rehabilitation solutions addressing wastewater and stormwater infrastructure. The Company has established a sterling reputation as a leader in resin- and UV-based cured-in-place-pipe solutions, geopolymer liner, and construction management services, supporting government customers across the United States and Canada. Its services are strengthened and supported by market-leading manufacturing capabilities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-12 Dickerson & Bowen

Brookhaven, Mississippi, United States

Dickerson & Bowen is a regional aggregates, asphalt, and highway construction company. Dickerson & Bowen was formed in 1947 and is headquartered in Brookhaven, Mississippi.

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