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 Status||Completed: 2011-07-01|
|Target (Company)||Lunda Construction Company|
|Acquirer (Company)||Tutor Perini Corporation (formerly Perini Corporation)|