Today’s Transactions:
Granite Picks Up Kenny Construction for $130M
Kenny is a privately-owned construction management and contracting company
Granite Construction Inc. (NYSE: GVA) will buy Kenny Construction Co., a contractor, for $130 million.
Kenny is a privately-owned company, founded in 1927, that also provides construction management services related to underground utilities, power transmission and tunnels.
The company’s revenue is projected to be about $270 million for 2012.
Granite is an infrastructure contractor headquartered in Watsonville, Calif.
Bank of America Merrill Lynch is acting as Granite’s financial adviser, while FMI Corp is Kenny’s financial adviser. Jones Day partners Mark Betzen, Todd Wallace, Michael Blais, Brian Easley and Chuck Wehland acted as legal counsel to Granite.
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