Thursday, Sterling Construction Co. Inc. (STRL) completed the acquisition of an 80% ownership interest in Ralph L. Wadsworth Construction Co., headquartered near Salt Lake City, Utah. Sterling paid $64.7 million for the 80% ownership interest in RLW that it purchased from four related individuals, who have retained the remaining 20% interest subject to a put/call arrangement.
The company noted that the acquisition is intended to provide a number of benefits for the company. The benefits include ability for Sterling to expand on RLW's significant experience in design-build delivery, ability to utilize RLW's significant structural construction expertise, expansion of Sterling into Utah, an attractive market with good long-term growth dynamics, a strong and innovative management team with a similar corporate culture and strong financial results that will be immediately accretive to our earnings per share.
Sterling Construction Co. Inc., a heavy civil construction company, through its subsidiaries, engages in the building, reconstruction, and repair of transportation and water infrastructure in Texas and Nevada.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.