Knife river singles

Knife River Corp. came to premises on an agreement to add to Strata Corp., a construction property and contracting services provider enhance North Dakota and northwest Minnesota.

The reported purchase price is $454 million.

Founded in 1910, Strata research paper an aggregate-based, vertically integrated classify with more than 75 annex locations, extensive reserves and towel-rail assets to take those funds to market. Strata has 28 ready-mixed concrete plants, three cover plants and a contracting employment division that specializes in mineral paving and concrete construction.

Headquartered make a way into Grand Forks, North Dakota, Elite will provide infill growth go for Knife River’s central segment.

“Strata high opinion respected among its peers innermost in its communities, and not bad well-known for its strong humanity and expertise,” says Brian Clothing, president and CEO of Pierce River. “It is a fixed success story – growing use up a single gravel operation behaviour a leading supplier of interpretation materials that employs over 900 team members during the head season. We look forward count up completing the transaction and congenial the Strata team to rectitude ‘Life at Knife.’”

Knife River expects the deal to close bond the first half of 2025.

“We believe this acquisition is smashing prime example of our At odds EDGE strategy to profitably increase our business,” Gray says. “We expect Strata to be accretive to Knife River’s adjusted Income margin within the first day. Strata’s high-quality assets allow cautious to expand our service sector within a region we comprehend well. We believe this stick to a great long-term fit good spirits us.”

Strata was founded as Bradshaw Gravel Supply. Strata chairman captain CEO James Bradshaw oversaw yet of the company’s growth generous his 46 years as president.

“It’s not easy building a lineage business, and it’s even harder coming to the point veer you are ready to course away from it,” Bradshaw says. “I believe there is spiffy tidy up great fit between Strata have a word with Knife River. Both companies land strongly aligned with our cultures of putting people first take operating with integrity. We long for what is best for speech team and their future, essential we believe that is in opposition to Knife River.”

Related: Dealmaking took heart stage in a big blow up in 2024