Tutor Perini Acquires 100% Stake in Lunda Construction

July 5, 2011

Tutor Perini Corporation, a civil and building construction company, has acquired 100% of the stock of Lunda Construction Company for $163.5 million, consisting of $141.8 million in cash at closing and $21.7 million in notes payable in five years, plus a structured earn-out based on the achievement of certain profitability targets for the next three years.

Lunda Construction is a civil contractor engaged in the construction, rehabilitation and maintenance of bridges, railroads, dams and other civil structures. The company has over 600 employees and a current backlog of approximately $400 million and revenues were approximately $400 million in fiscal year ended December 31, 2010.

Deal Value (US$ Million)	163.5
Deal Type	Acquisition
Sub-Category	100% Acquisition
Deal Status	Completed: 2011-07-01

Deal Participants

Target (Company)	Lunda Construction Company
Acquirer (Company)	Tutor Perini Corporation (formerly Perini Corporation)

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